Director of New Ventures, Healthcare (Innovation Center)

Santa Clara, CA, United States

Director of New Ventures, Healthcare (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 in the products we make and our people. That is why we are currently seeking the newest innovator to join our dynamic team. We are currently seeking a Director of New Ventures (EIR), Healthcare to join LG NOVA, the LGE innovation unit based in Santa Clara, CA. This can be 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.

Position Summary

Healthcare Director of New Ventures/Entrepreneur-In-Residence (open to Manager through Director level based on experience)

LG is seeking an Healthcare Director of New Ventures/Entrepreneur-In-Residence or Manager or Sr. Manager (level is dependent on experience) to join the Incubation division at its North America Innovation Center (“LG NOVA”) based in the Bay Area. This position 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 division is to identify and grow new businesses for the next chapter of LG in collaboration with startups and outside innovators. This Director of New Ventures will advise startups, thrives in ambiguous environments, and is driven to explore untapped new frontiers in innovation. This Director of New Ventures will help identify and develop new business opportunities within digital healthcare based on open innovation/outside-in innovation, and building sustainable business models leveraging both internal and external partnerships.

Roles and Responsibilities: Responsibilities for this position include but are not limited to:

• Identify and evaluate high-potential startups and new technology growth areas within the clean technology space, in collaboration 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

· BS in CS, Engineering, Science, Business, or related technical experience.

· 8+ years of experience in corporate innovation, corporate development, accelerators/incubators or startups, working across cross-functional teams and influencing decision-making

· Industry experience in digital health, telehealth and wellness

· Experience in open innovation, collaborative venture studio model and new business development based on collaboration with startups

· 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

· Fluency in English is a must

Preferences:

· Experience founding a health technology company and successfully exciting

· Applies agile approach to ambiguity by testing hypotheses, rapid experimentation, validating and refining, and constant iterations on business model, proofs of concept, go-to-market, etc.

· Experience advising early-stage businesses either at a startup or within a large corporation

· Experience in venture studio 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 in M&A, venture capital, product management, product marketing, corporate strategy, corporate development, or management consulting is a plus

· Master or MBA

· Experience with research tools, managing research vendors

What We Can Offer You:

Culture for Growth | Top Notch Employee Health & Well Being Benefits | Every Voice Matters | Global Reach

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 in 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.

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