LG holds annual event to nurture innovative startups

LG Group said Thursday it held an annual startup event to nurture and support promising startup companies.

Forty companies from various fields, including artificial intelligence, bio technology and clean tech sectors, three of the sectors LG designated as future growth engines, participated in the event to demonstrate their technologies and services and seek future cooperation, LG said.

The participants included Zkrypto Inc., a developer of a blockchain application powered by a zero-knowledge proof (ZKP), a method of proving the validity of a statement without revealing the statement itself. The startup's zKvoting, the first public blockchain voting app to utilize ZKP technology that ensures absolute secrecy, was among CES 2023 Innovation Award honorees.

Basgenbio Inc., a clinico-genomic cohort data-based research and development company, was also one of the 40 participants.

At the Superstart Day 2023, which is set to run until Friday, LG shared the achievements of nine companies from its startup incubation program. The event also offered overseas expansion strategies and investment attraction sessions.

The Superstart Day, which began in 2018 and takes place in LG Science Park in western Seoul, has attracted some 260 startups from 26 countries so far.

LG offers promising startups office spaces and consulting services on relevant laws, marketing and finance.

"We will accelerate our move to prepare for the future by continuing seeking and nurturing startups with new ideas and innovative technologies," Park Il-pyong, president of LG Science Park, said.

Source: Yonhap News Agency