GENERAL

Does The Battery Challenge only accept applications for lithium-ion technologies?

No, The Battery Challenge accepts applications for all electrochemical storage technologies.

How many startups will be selected as finalists for The Battery Challenge?

We expect that eight winners will be selected as finalist to participate in the Demo Day in Silicon Valley. In the unlikely event that there are less than eight applicants that meet the minimum scoring criteria The Battery Challenge reserves the right to select fewer winners. After the eight pitch presentations, LG Chem will select up to eight finalists to move onto the ‘Week in Korea’ based off the discussions and pitches during Demo Day. Up to eight finalists will be selected for investment opportunities.

Who will judge the applicants and select finalists?

The LG Chem researchers and innovation team will be reviewing the applications and selecting the finalists. CalCharge will facilitate the process.

What is the role of CalCharge, California Clean Energy Fund and New Energy Nexus?

CalCharge and New Energy Nexus are both programs of the California Clean Energy Fund and are the implementation partners for the LG Chem Battery Challenge. More information can be found here.

APPLICATION

When is the application deadline?

The application window opens on August 17, 2018 and closes on November 9, 2018 (11:59 Pacific Time). The application deadline has been extended from November 2 to November 9.

My startup is not registered, can I still apply?

You do not need to be incorporated at the time of application submission, however, if you are to be selected to receive a cash prize, by law you’ll need to be a registered entity to receive your cash award.

If I don’t have a working prototype, can I still apply?

Yes, your application will still be accepted, however, it is preferred that you have a validated concept and a working prototype. Please be sure to describe where you are in the process towards developing a working prototype and what associated challenges you are facing.

What are the terms and conditions?

The terms and conditions can be found here.

Should I still apply if my company doesn’t fit in the four categories?

The four competition categories includes battery technologies across the entire battery value chain. If you have a solution or innovation that falls outside these categories, please explain why and how you would benefit from a partnership with LG Chem.

Will you sign an NDA?

We will not sign an NDA during the initial round of applications, but all information submitted during the application process will ONLY be used to select the winners. LG Chem is willing to sign an NDA during the interview process if that eases the concern about Intellectual Property protection. Please refer to the Terms and Conditions on the dos and don’ts of how applicants are expected to be responsible for the protection of their own Intellectual Property.

Is a video interview necessary during the selection process?

Yes, once the application window closes, we will shortlist and contact the applicants to arrange a video interview.

Do we have to submit all of the files requested?

Yes, all of the files requested on the application will be reviewed and required for a complete submission.

PRIZES

Does acceptance of the cash prize require exchange for equity?

No, the cash prize has no strings attached. However, we expect finalists who receive a cash prize to demonstrate a good faith interest in pursuing a partnership with LG Chem.

What if I don’t want to accept investment from LG Chem?

Participants in The Battery Challenge are generally expected to be interested in future investment from LG Chem as well as collaboration and partnership on the finalists’ commercialization pathway should LG Chem be interested. While the cash prize is not legally contingent on future investment with LG Chem we encourage you to explain in your application why you are interested in participation in The Battery Challenge but face challenges or obstacles in accepting investment from LG Chem. Such up-front transparency will ensure that there is no perception of bad faith on part of the participant later in the process.

Are finalists guaranteed investment with LG Chem?

No, the eight finalists are not guaranteed investments from LG Chem.

What type of investment will be deployed?

The type of investment vehicle will vary with each finalist and their current and future capitalization plans. As advertised, up to $1.9m is available for investment for the program with the potential for follow-on funding from LG Chem and LG Technology Ventures.

When should I expect to find out of I am a finalist?

We will notify you by email if you have made it to the shortlist around in between November and December.

LOGISTICS

What costs are the startups responsible for?

Reasonable travel and accommodations costs for Demo Day and Week in Korea will be paid for by The Battery Challenge. LG Chem will help make the arrangements once you have been selected.

Where will Demo Day be held?

Demo Day will be held in Silicon Valley, CA. Exact venue is still to be determined.

For any additional questions, please contact us at hello@batterychallenge.co.
We will do our best to reply within 24 hours.