Ericsson-LG, a joint venture between Ericsson and LG Electronics, said on June 2 that it held the ETNS (Enabling The Networked Society) Pitching Day event to let venture businesses present their new business proposals though collaboration.
Ten venture businesses were selected after reviewing their business proposals and the 10 businesses were invited to the ETNS (Enabling The Networked Society) Pitching Day event, held at the Ericsson-LG Headquarters on June 1.
They were given a limited time to make a presentation on their new business model in four strategic business areas – transportation & shipping, energy, public safety and smart city. After the presentations, three finalists were selected.
The business proposals presented were evaluated by Ericsson-LG officials including Patrick Johansson, CEO of Ericsson-LG, in three categories: directionality, innovation and feasibility.
CEO Patrick Johansson said: “Discovering new business opportunities through collaboration with Korean startups is a powerful way of realizing The Networked Society’s vision. As Ericsson has continued to lead innovation in the communications industry over the past 140 years, I hope Ericsson-LG’s 1,100 executives and staff members will bring new innovations to the market in collaboration with Korean startups.”
