Entrepreneur-in-Residence, Digital Health (LG NOVA)

LG Electronics North America Innovation Center (“LG NOVA”)
LG Electronics 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 to join LG NOVA’s office in Santa Clara, CA. This is a contract 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 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

Engagement & Venture Path
This Entrepreneur-in-Residence role is structured as a contract engagement, typically for an initial period of approximately 12 months. During this time, the EIR will work closely with LG NOVA to validate, build, and advance a new venture with the goal of developing it toward spinout.

Location: this can be a hybrid position working out of our office in Santa Clara, CA.

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