Company Background

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 Healthcare Lead 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 Lead (Director Level)

LG is seeking a Healthcare Lead 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. The Healthcare Lead will manage a team of entrepreneurs-in-residence / Directors of New Ventures and product specialists to work to identify and develop new business opportunities within digital health based on open innovation/outside-in innovation, and building sustainable business models leveraging both internal and external partnerships.

This role will focus on leading a specialized healthcare venture development and product team through the management of a portfolio of activities across the spectrum of our innovation and venture development process, including fostering relationships with select startup partners, developing collaboration opportunities in partnership with the startups, executing PoCs or pilots with partners, developing new venture proposals, overseeing the product development of demos and MVPs in collaboration with engineering colleagues, and working to operationalize new ventures that are approved for funding. This individual will both manage the portfolio of projects within LG NOVA's healthcare venture development process, and have an opportunity to individually lead new venture proposals.

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

* Lead a team of entrepreneurs-in-residence / EIRs and product specialists to build out high growth new healthcare ventures for LG NOVA.

* Develop a strategy and thesis for LG NOVA within digital health, including identifying the most near-term areas of opportunity for venture development as well as the unique assets and capabilities that can be leveraged at LG.

* Oversee a portfolio activities across the spectrum of our innovation and venture development process (startup relationships, collaboration opportunities, POCs/Pilots, new venture proposals, demos/MVPs)

* Manage multiple projects/ a partnership pipeline led by intra-preneurs or corporate entrepreneur-in-residences (EIR)

* Identify and evaluate high-potential startups and new technology growth areas within the digital health space, in collaboration with LG NOVA's Grand Challenges/Ecosystem department

* Work with the digital health incubation team to 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.

* Conceptualize innovative solutions, services, and/or business models in collaboration with startup partners

* Validate the solution/service/business model through conducting POC testing and customer interaction

* 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

* 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

Key qualifications:

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

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

* 5+ years of experience managing teams of cross-functional specialists including product and strategy

* Deep industry experience in digital health and across multiple segments of the healthcare ecosystem

* Background or experience in a strategy role at a corporate or technology company or in management consulting

* Experience successfully managing portfolios of projects and various stages

* 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:

* 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.