Battery Challenge 2022
LG Energy Solution is on a mission to find the most innovative and cutting-edge battery startups on the planet
Challenge Overview
The LGES Battery Challenge 2022 is designed to accelerate the adoption of new battery technologies and business models around the world.
Transformative battery solutions in transportation, electricity grids, home storage, and new applications will be the key to unlocking the next stage of the clean energy transition. Having access to safe, clean, and independent energy is becoming universal.
Battery industry leader LG Energy Solution partners with New Energy Nexus to launch this challenge.
Challenge Overview
The LGES Battery Challenge 2022 is designed to accelerate the adoption of new battery technologies and business models around the world.
Transformative battery solutions in transportation, electricity grids, home storage, and new applications will be the key to unlocking the next stage of the clean energy transition. Having access to safe, clean, and independent energy is becoming universal.
Battery industry leader LG Energy Solution partners with New Energy Nexus to launch this challenge.
What’s In It for My Startup?
What’s In It
for My Startup?
USD $1,000,000
cash prizes
Up to USD $1,000,000 cash prize will be awarded among all winners of the challenge.
Pitch day in Seoul
Up to 10 selected finalists will be sponsored to participate in a workshop and pitch day with LG Energy Solution researchers, investors, and innovation teams.
Collaborate
with LG Energy Solution
Selected finalists will have potential opportunities to collaborate with LG Energy Solution on a proof-of-concept pilot project and further investment opportunities.
Who Should Apply?
- Applicants anywhere in the world with strong expertise and innovative technology in the battery sector.
- Pre-commercial companies that have a validated concept and a working prototype are preferred
- Companies with a Technology Readiness Level between 3-6 is most ideal
- Strong desire to work with LG Energy Solution
- Battery technology in the following categories are encouraged:
Battery Management System
(BMS)
Battery
Maintenance
Battery Recycling/Reuse
Technology for Net Zero
Battery Manufacturing and
Quality Control
Battery Materials
Next Generation Batteries
Smart Factory
Solutions
Who Should
Apply?
- Applicants anywhere in the world with strong expertise and innovative technology in the battery sector.
- Pre-commercial companies that have a validated concept and a working prototype are preferred
- Companies with a Technology Readiness Level(TRL) between 3-6 is most ideal
- Strong desire to work with LG Energy Solution
Battery Recycling/Reuse Technology for Net Zero
Smart Factory Solutions
Battery Materials (Next Generation Batteries)
Battery Management System (BMS)
Battery Manufacturing and Quality Control
Battery Maintenance
Selection Criteria
Applicants should clearly lay out your product description, value proposition and business model and technology expertise.
Market Potential
Clearly differentiate from existing solutions with plans to scale globally.
Concept & Prototype
Ideal candidates should have a validated concept and working prototype.
Credible & Economic
Business model is based on credible and economic assumptions.
Great Team
The team should present strong expertise in the battery sector and demonstrate valuable soft skills.
Selection Criteria
Applicants should clearly lay out your product description, value proposition and business model and technology expertise.
Market Potential
Clearly differentiate from existing solutions with plans to scale globally.
Concept & Prototype
Ideal candidates should have a validated concept and working prototype.
Credible & Economic
Business model is based on credible and economic assumptions.
Great Team
The team should present strong expertise in the battery sector and demonstrate valuable soft skills.
Timeline
Timeline
Who We Are
Who We Are
FAQ
How many startups will be selected as finalists for the LGES Battery Challenge 2022?
We expect there will be a maximum of 10 applicants selected as finalists to participate in the Workshop and Pitch Day in Seoul. In the unlikely event that there are less than 10 applicants that meet the minimum scoring criteria, the LGES Battery Challenge 2022 reserves the right to select fewer finalists.
Who will judge the applicants and select finalists?
LG Energy Solution researchers and open innovation team will be reviewing the applications and selecting the finalists. New Energy Nexus will facilitate the process and conduct an initial due diligence check before the interview.
Will finalists have the opportunity to engage with LG Energy Solution for further investments or proof-of-concept projects?
Yes, finalists will have the opportunity to get possible further investments and proof-of-concept projects from LG Energy Solution. However, it’s not a guarantee. Further investment and proof-of-concept from LG Energy Solution will require an internal approval process and due diligence that is not part of the scope of the program.
What is the role of New Energy Nexus?
New Energy Nexus is the operating name of the California Clean Energy Fund and is the implementation partner for the LG Energy Solution Battery Challenge. More information can be found here.
What if my question is still not answered in the FAQ?
If your question cannot be found in the FAQ, please contact Jenny Kao jenny.kao@newenergynexus.com via email. We will reply as soon as possible.
When is the application deadline?
The application window opens on August 1, 2022 and closes on 11:59 PM September 16, 2022 (Pacific Time). We’ve extended the application deadline to 11:59 PM September 30, 2022.
When should I be expected to find out if I am a finalist?
We will notify you by email around the mid of October if you have made it to the interview round. The selection of the finalists will be conducted around November.
Can I still apply if I don’t have a working prototype?
Yes, your application will still be accepted, however, it is preferred that you have a validated concept and a working prototype. Please be sure to describe where you are in the process towards developing a working prototype and what associated challenges you are facing.
I am a later stage company. Can I still apply?
Yes. We encourage all companies or teams who see value in partnering with LG Energy Solution to apply. Please highlight why you are applying even though you may not be one of the targeted groups of startups.
I am a research team working in a university lab. Will I be able to apply?
It depends. If you are applying on behalf of a university lab, then that would be no. But LG Energy Solution does have other programs geared towards university/research lab– Battery Innovation Lab. More information can be found here. On the other hand, if you’re a researcher at a lab and has your own company working on an seperate project, then yes.
Do we have to be registered company when we apply?
It is preferred. In order to receive prize money, you will need to have a registered company.
What are the terms and conditions?
The terms and conditions can be found here.
Will we be signing NDA?
Yes. If you are selected as a one of the finalist candidates, we will be signing an NDA before the interview.
Is a video interview necessary during the selection process?
Yes. Once the application window closes, we will shortlist and contact the applicants to arrange a video interview. Interviews for this program will be conducted virtually.
For questions please email, So Hyun Kim at sohyunkim@lgensol.com.
We will do our best to reply within 24 hours.
FAQ
How many startups will be selected as finalists for the LGES Battery Challenge 2022?
We expect there will be a maximum of 10 applicants selected as finalists to participate in the Workshop and Pitch Day in Seoul. In the unlikely event that there are less than 10 applicants that meet the minimum scoring criteria, the LGES Battery Challenge 2022 reserves the right to select fewer finalists.
Who will judge the applicants and select finalists?
LG Energy Solution researchers and open innovation team will be reviewing the applications and selecting the finalists. New Energy Nexus will facilitate the process and conduct an initial due diligence check before the interview.
Will finalists have the opportunity to engage with LG Energy Solution for further investments or proof-of-concept projects?
Yes, finalists will have the opportunity to get possible further investments and proof-of-concept projects from LG Energy Solution. However, it’s not a guarantee. Further investment and proof-of-concept from LG Energy Solution will require an internal approval process and due diligence that is not part of the scope of the program.
What is the role of New Energy Nexus?
New Energy Nexus is the operating name of the California Clean Energy Fund and is the implementation partner for the LG Energy Solution Battery Challenge. More information can be found here.
What if my question is still not answered in the FAQ?
If your question cannot be found in the FAQ, please contact Jenny Kao jenny.kao@newenergynexus.com via email. We will reply as soon as possible.
When is the application deadline?
The application window opens on August 1, 2022 and closes on 11:59 PM September 16, 2022 (Pacific Time).
When should I be expected to find out if I am a finalist?
We will notify you by email around the second week of October if you have made it to the interview round. The selection of the finalists will be conducted around the end of October.
Can I still apply if I don’t have a working prototype?
Yes, your application will still be accepted, however, it is preferred that you have a validated concept and a working prototype. Please be sure to describe where you are in the process towards developing a working prototype and what associated challenges you are facing.
I am a later stage company. Can I still apply?
Yes. We encourage all companies or teams who see value in partnering with LG Energy Solution to apply. Please highlight why you are applying even though you may not be one of the targeted groups of startups.
I am a research team working in a university lab. Will I be able to apply?
Unfortunately, no. For this program, we are focused on looking for startups that have a legal business entity. LG Energy Solution does have other programs geared towards university/research lab– Battery Innovation Lab. More information can be found here.
What are the terms and conditions?
The terms and conditions can be found here.
Will we be signing NDA?
Yes. If you are selected as a one of the finalist candidates, we will be signing an NDA before the interview.
Is a video interview necessary during the selection process?
Yes. Once the application window closes, we will shortlist and contact the applicants to arrange a video interview. Interviews for this program will be conducted virtually.
For questions please email,
So Hyun Kim at sohyunkim@lgensol.com.
We will do our best to reply within 24 hours.
© 2022 NEW ENERGY NEXUS AND LG ENERGY SOLUTION
Contact
Email So Hyun Kim at
sohyunkim@lgensol.com
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