Unfortunately , many of West Virginia ’ s rural populations do not have comprehensive medical facilities nearby . LG hopes to help improve health care access and outcomes through some of its digital offerings such as telehealth .
“ Given the size of the state and the fact that West Virginia ’ s Peak Health covers much of the state and is an inclusive , provider-led health plan , there are unique opportunities to deliver more innovative care that may not be possible in other markets ,” says Darren Sabo , head of commercialization and digital health ventures for LG NOVA and LG Electronics . “ West Virginia is truly poised to be on the cutting edge of health care delivery , and we hope we can contribute to that mission .”
One of the major components of the partnership between LG NOVA and the state of West Virginia is a $ 700 million investment fund .
“ We ’ ve set up an impact investment vehicle , the NOVA West Virginia Fund , to attract , mobilize and deploy $ 700 million in investments into startups , small businesses and infrastructure , including capital investments to support new business creation in the state ,” says Ali Diallo , managing partner for NOVA West Virginia Development Fund . “ The $ 700 million will be a mix of investments from LG and its public and private partners . The fund will focus on investments in technology businesses , but not all of the investments will be directly for technology .”
According to William Barkis , head of ecosystem and grand challenges for LG NOVA and LG Electronics , LG plans to extend this initiative beyond the Mountain State . The goal is to create a broad network of innovation across multiple states in Appalachia that will introduce new technologies , advancements in infrastructure and economic development . West Virginia will serve as the model for partnerships with other states .
“ The Appalachian region is incredibly important to this country for many reasons , including the centrality within the East Coast , the opportunity to make a change by launching advanced digital technology in the market in a region ready for it , the robust industry that exists , the historical importance of the region and the natural beauty that attracts outdoor enthusiasts globally ,” Barkis says .
This collaborative project between West Virginia and LG NOVA will not only transform the state ’ s economy but also pave the way for a healthier , more sustainable future for its people .
“ We ’ re excited about the positive impact we can have on the local economy and in the long run our ability to create transformation in digital health , cleantech and other market areas ,” says Di Frances . • � The Focus Forward event in Morgantown , WV .
WWW . WVEXECUTIVE . COM SPRING 2024 55