LG an­nounces Startup ini­tia­tive

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

ISLAMABAD—LG Electronics (LG) is tak­ing its “open innovation” strat­egy to the next level by spin­ning off of two ini­tia­tives orig­i­nally in­cu­bated in-house: Acan­vas and In­fit& Com­pany Inc. While LG will pro­vide use of the patented tech­nol­ogy, both com­pa­nies will be man­aged com­pletely by for­mer LG em­ploy­ees and will be re­spon­si­ble for their own fundrais­ing and strat­egy.

Acan­vas will focus on de­vel­op­ing its art stream­ing plat­form into a vi­able busi­ness. The art stream­ing plat­form con­tains mil­lions of li­censed works of art dis­played in cord-free cus­tom­iz­a­ble dig­i­tal frames. Acan­vas just started a Kick­starter cam­paign last week to fund its com­ple­tion of de­vel­op­ment.

Acan­vas will ini­tially tar­get North Amer­ica with plans to ex­pand to other mar­kets next year. In­fit & Com­pany Inc. is the com­pany behind the Imag­ing Mo­du­lar Di­ag­no­sis Ma­chine, a med­i­cal prod­uct which em­ploys the lat­est tech­nolo­gies to di­ag­nose con­di­tions such as rheuma­toid arthri­tis. By us­ing an af­ford­able and safer op­ti­cal imag­ing sys­tem in­stead of ra­di­a­tion to peer in­side pa­tients, In­fit& Com­pany Inc. hopes to rev­o­lu­tion­ize med­i­cal care.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.