Director of New Ventures, AI

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

Director of New Ventures/Entrepreneur-In-Residence (AI)

LG is seeking a Director of New Ventures/Entrepreneur-In-Residence 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 $60-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. In this role you can expect to interact with new technology startups (all stages) and help identify and develop new business opportunities in future growth areas of AI Technologies. Our focus is creating sustainable solutions based 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 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
  

Key qualifications:
* 12+ 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
* 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
* Masters or MBA, BS in CS, Engineering, AI, or related technical experience

What We Can Offer You:

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