The Product Folks
Director of New Ventures, AI (Innovation Center)
The Product Folks, California, Missouri, United States, 65018
Director of New Ventures, AI (Innovation Center)
LG's Mission is to be #1 by creating a better life for our customers. At LG we make products and services that make lives better, easier and happier through increased functionality and fun. Put simply, we offer the latest innovations to make “Life Good”! As a global leader, we strive for greatness not only in the products we make but in our people. That is why we are currently seeking the newest innovator to join our team as a Sr. Manager or Director of New AI Ventures in Santa Clara, CA. This is a hybrid position.LG Electronics North America Innovation Center (“LG NOVA”)LG Electronics recently established North America Innovation Center (“LG NOVA”) in Santa Clara, California, USA., 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.Your Responsibilities
Identify and evaluate high-potential startups and new technology growth areas within AI and Technologies to collaborate with LG NOVA’s Grand Challenges/Ecosystem department.Develop collaboration models, product/service concepts and build business models, value proposition, customer segments, market channels, key partners, key resources, revenue streams and cost structure.Work with startups and outside innovators to create new businesses using collaboration models such as JV, commercial agreement, M&A, investment, etc.Develop new business plans and financial projections for the new joint businesses with startups and outside innovators and pitch ventures to internal and external investors for potential investment.Manage multiple projects and a partnership pipeline and support and incubate new businesses with start-ups.Build coalition of partners and stakeholders to collaborate toward developing new business opportunities.Conceptualize innovative solutions, services, and/or business models that combine offerings from multiple partners including startups selected by the grand challenge program, and validate them through conducting POC testing and customer interaction.Define initial negotiation deal points (e.g., term sheets, gives/gets, walk-in/out position, etc.) and close deals with relevant stakeholders involved in creating new businesses (startups, internal stakeholders, partners, etc.).Support strategic partnerships with legal, purchasing, business and technical requirements.Required Skills and Experience
Key Qualifications12+ years of experience in corporate innovation, corporate development, accelerators/incubators or startups, working across cross-functional teams and influencing decision-making.Experience in open innovation, collaborative venture studio model and new business development based on collaboration with startups.Knowledge and experience in the areas of
AI Technologies .Broad understanding of technology around SW, HW, cloud, platforms, system engineering, and various business models such as recurring revenue models.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.
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LG's Mission is to be #1 by creating a better life for our customers. At LG we make products and services that make lives better, easier and happier through increased functionality and fun. Put simply, we offer the latest innovations to make “Life Good”! As a global leader, we strive for greatness not only in the products we make but in our people. That is why we are currently seeking the newest innovator to join our team as a Sr. Manager or Director of New AI Ventures in Santa Clara, CA. This is a hybrid position.LG Electronics North America Innovation Center (“LG NOVA”)LG Electronics recently established North America Innovation Center (“LG NOVA”) in Santa Clara, California, USA., 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.Your Responsibilities
Identify and evaluate high-potential startups and new technology growth areas within AI and Technologies to collaborate with LG NOVA’s Grand Challenges/Ecosystem department.Develop collaboration models, product/service concepts and build business models, value proposition, customer segments, market channels, key partners, key resources, revenue streams and cost structure.Work with startups and outside innovators to create new businesses using collaboration models such as JV, commercial agreement, M&A, investment, etc.Develop new business plans and financial projections for the new joint businesses with startups and outside innovators and pitch ventures to internal and external investors for potential investment.Manage multiple projects and a partnership pipeline and support and incubate new businesses with start-ups.Build coalition of partners and stakeholders to collaborate toward developing new business opportunities.Conceptualize innovative solutions, services, and/or business models that combine offerings from multiple partners including startups selected by the grand challenge program, and validate them through conducting POC testing and customer interaction.Define initial negotiation deal points (e.g., term sheets, gives/gets, walk-in/out position, etc.) and close deals with relevant stakeholders involved in creating new businesses (startups, internal stakeholders, partners, etc.).Support strategic partnerships with legal, purchasing, business and technical requirements.Required Skills and Experience
Key Qualifications12+ years of experience in corporate innovation, corporate development, accelerators/incubators or startups, working across cross-functional teams and influencing decision-making.Experience in open innovation, collaborative venture studio model and new business development based on collaboration with startups.Knowledge and experience in the areas of
AI Technologies .Broad understanding of technology around SW, HW, cloud, platforms, system engineering, and various business models such as recurring revenue models.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.
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