What are the responsibilities and job description for the Healthcare Entrepreneur-in-Residence (LG's Innovation Center) position at LG Electronics?
Step into the innovative world of LG Electronics. As a global leader in technology, LG Electronics is dedicated to creating innovative solutions for a better life. Our brand promise, 'Life's Good', embodies our commitment to ensuring a happier life for all. We have a rich history spanning over six decades and a global presence in over 290 locations. Our diverse portfolio includes Home Appliance Solutions, Media Entertainment Solutions, Vehicle Solutions, and Eco Solutions. Our management philosophy, "Jeong-do Management," embodies our commitment to high ethical standards and transparent operations. Grounded in the principles of 'Customer-Value Creation' and 'People-Oriented Management', these values shape our corporate culture, fostering creativity, diversity, and integrity. At LG, we believe in the power of collective wisdom through an inclusive work environment. Join us and become a part of a company that is shaping the future of technology. At LG, we strive to make Life Good for Everyone.
LG Electronics North America Innovation Center ("LG NOVA")
LG Electronics recently established North America Innovation Center ("LG NOVA") in Santa Clara, California, USA., in the heart of Silicon Valley, with an ambitious vision to become the nerve center of global innovation. Aiming to create the future of LG with the focus on disruptive and exponential growth, LG NOVA works with global corporations, startups, governments, and technology stakeholders to create new businesses, establish strategic partnerships, and develop a broad ecosystem using the process of "outside-in" innovation.
Position Summary
Entrepreneur-In-Residence
We are currently seeking a Healthcare Entrepreneur-in-Residence / Director of New Ventures (Healthcare) to join LG NOVA's newest office in Morgantown, West Virginia. This position will collaborate extensively with the LG NOVA headquarters based in Silicon Valley. This can be a hybrid position.
The Healthcare Entrepreneur-in-Residence will play a critical role in unlocking the next chapter of transformational growth for this over $70 billion-dollar global tech company. The goal of the innovation division is to identify and grow new healthcare businesses for the next chapter of LG in collaboration with other startups and partners.
The EIR will be an integral part of our innovation team, focusing on identifying, developing, and launching new software-driven healthcare tech ventures in collaboration with startup partners. This role is ideal for a seasoned or aspiring entrepreneur with a strong background in software development (engineering, product management, business development or other similar experience) and a passion for Healthtech.
The EIR will work closely with our startup partners, engineers, and leadership team as well as universities/businesses in West Virginia to conceptualize and bring to market innovative software-centric Healthtech solutions.
Roles and Responsibilities:
Responsibilities for this position include but are not limited to:
- Identify compelling digital health market opportunities and develop product and business concepts into new company spin outs
- Collaborate with other start-ups and partners to create more robust solutions, designed to better meet the customers need and accelerate time to market and time to scale
- Partner with LG NOVA's Ecosystem team to source and evaluate potential start-up partners
- Conduct customer discovery and market validation to confirm job to be done and potential demand
- Develop robust business plans including product strategy, business model and commercial plans.
- Pitch to internal review committee and external investor partners to secure new company creation approval and funding
- Develop financial projections that demonstrate the potential for the business to grow rapidly and achieve LG NOVA's ambitious goals
- Develop networks of advisors and external experts that can assist in the development, validation and execution of a new business concept
Key Qualifications:
- Must have relevant experience in digital health, healthtech, and wellness markets
- 5 years of experience in digital health product development, commercialization, and strategy
- Experience in taking a product/company from 0-1 in digital health is strongly preferred. Either as a founder or member of a founding team.
- Experience working in a healthcare company in a product, strategy, or incubation/innovation role
- BS in CS, Engineering, Science, or Business
- Broad understanding of technology around AI, SaaS, cloud, platforms, and various business models such as recurring revenue models
- Familiarity with venture financing mechanism and valuation models including new blended capital structures involving public/private funding and other impact related financial actors.
- Experience with business and technical requirements analysis
- Experience incubating new businesses at a startup and/or at a global tech company
- Entrepreneurial mindset with bias for action in highly ambiguous environments – enjoys making sense of white space and exploring nascent opportunities with large potential
- Critical thinking, intellectual curiosity, analytical/problem-solving skills, and the ability to combine and balance qualitative analysis, strategy and operations
- Excellent written and verbal communication skills and organizational skills
- Fluency in English is a must
Why Join Us
- Opportunity to shape and lead new ventures from the ground up, supported by LG NOVA resources (business, technical and financial) from idea throughout the venture lifecycle with the dedicated funds we are in the process of creating.
- Be at the forefront of healthcare tech innovation, working on solutions that have a real impact with a potential to reach $1B valuation.
- Collaborate with a talented and passionate team and LG NOVA Ecosystem Partners dedicated to driving change.
- Competitive compensation
What We Can Offer You
Culture for Growth | Every Voice Matters | Global ReachPlease Note: this is a contract position working with LG through an agency.
#LI-JH1
#LI-Hybrid
Benefits Offered Full-Time Employees:
- No-cost employee premiums for you and your eligible dependents for competitive medical, dental, vision and prescription benefits.
- Auto enrollment with immediate vesting of competitive company matching contributions in a 401(k) Retirement Savings Plan with several investment options.
- Generous Paid Time Off program that includes company holidays and a combined bank of paid sick and vacation time.
- Performance based Short-Term Incentives (varies by role).
- Access to confidential mental health resources to help you and your loved ones improve your quality of life. Personal fitness goal incentives.
- Family orientated benefits such as paid parental leave and support for families raising children with learning, social, behavioral challenges, or developmental disabilities.
- Group Rate Life and Disability Insurance.
Benefits Offered Temporary/Contractors:
- Eligible for the relevant benefit programs offered through our partner agencies.
Privacy Notice to California Applicants
At LG, we aspire to empower people and celebrate differences because we believe diversity will create the unexpected. We provide equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Consistent with our commitment to providing equal opportunity and embracing diversity, LG has implemented affirmative action to ensure applicants are employed and employees are treated without regard to these characteristics.
In addition to the above, LG believes that pay transparency is a key part of diversity, equity, and inclusion. Our salary ranges take into account many factors in making compensation decisions including but not limited to skillset, experience, licensure, certifications, internal equity, and other business needs. While we consider geographic pay differentials in final offers, because we operate in many geographies where applicable, the salary range listed may not reflect all geographic differentials applied.
