LG Electronics (LG) announced the final winner of its LIFE’S GOOD AWARD, supporting global innovators taking on challenges to help create a Better Life for All. The Grand Prix was awarded to Dot Inc. from South Korea. The jury ranked the final four teams after each of the teams pitched their innovative solutions in the award’s final round, held during the LIFE’S GOOD AWARD Conference at LG Sciencepark in Seoul, Korea, on January 16 2023.
LG Electronics executives leading the company’s ESG management, CSO Lee Sam-soo and CTO Dr. Kim Byoung-hoon, were present as well. The award embodies the company’s ESG vision of a Better Life for All, aiming to foster a brighter future for the planet and people.
The company aimed to solicit ideas for environmental sustainability and accessibility, two key focuses of its ESG initiative, the Better Life Plan 2030. The solutions presented by the four winners illustrate the power and potential of tech-for-good to spread positive global impact.
What were the highlights of the conference?
The LIFE’S GOOD AWARD Conference was attended by award’s jury, the LG Life’s Good Committee, consisting of the company’s execs and scholars in responsible business management; Alex Edmans, a professor at London Business School, Christopher Marquis, a professor at Cambridge Judge Business School and Hyun S. Shin, a professor at Hanyang Business School and a director of the Collective Impact Center at Hanyang University.
The LIFE’S GOOD AWARD conference saw various attendees – including members of the public, local university students and LG employees and partners – and was livestreamed so that audiences from all around the globe could tune into the proceedings. During the morning, the four teams gave a final presentation and participated in a Q&A session, while the jury provided feedback based on the impact, innovation and sustainability of each solution.
The afternoon featured an award ceremony, honouring the four teams and announcing their final placings, as well as lectures delivered by Prof. Edmans, Prof. Marquis and Prof. Shin.
What were LIFE’S GOOD AWARD winning solutions?
The winning teams of the awards are: Dot Inc. of South Korea (Grand Prix/USD 700,000 in prize money); SOLUTUM of Israel (Gold/USD 200,000); Day1Lab of South Korea (Silver/USD 100,000); and NONA Technologies of the United States (Bronze/USD 50,000).
- Dot Inc.: developed an assistive information display device for the visually impaired composed of 2,400 braille pins – or ‘dots’ – which move up and down. The novel device converts images, maps and other diverse digital information from connected devices such as computers and mobile phones into a display for visually impaired users to comprehend.
- SOLUTUM: developed a novel plastic material that dissolves in water at ambient temperature and then biodegrades leaving no microplastic or toxin residue.
- Day1Lab: created an organic polymer plastic which completely biodegrades in freshwater after about two weeks, and in the earth after about two months.
- NONA Technologies: developed a desalination solution leveraging Ion Concentration Polarisation (ICP) to remove viruses, bacteria, salt and debris from water.
What do the awards mean for stakeholders?
“We will continue to pursue solutions assisting the visually impaired, and thanks to LG’s support, we will be able to achieve this at a greater scale and in less time than we otherwise would have,” said Ahrum Choi of Dot Inc., Grand Prix winner of the LIFE’S GOOD AWARD.
“We are so grateful for this experience and are looking forward to collaborating with LG in the future, a company that really shares our desire to make the world a better place.”
Commenting on the awards, Lee Sam-soo, Chief Strategy Officer at LG Electronics, said, “We will continue to collaborate with like-minded innovators as we forge ahead on a shared journey to create a sustainable future for all, embracing the company’s Life’s Good vision.”
Meanwhile, LG will carry out Environmental, Social, and Governance efforts spearheaded by the Better Life Plan 2030 and continue to share the initiative with internal employees and external stakeholders, in order to bolster the company’s sustainable business practices.