LG Display is seeking to expand the use of organic light-emitting diode display panels at smart homes by teaming up with startups.

On Thursday, LG Display announced eight candidates out of some 80 startups who have taken part in a contest the company has hosted since July to select open innovation partners.

The eight are Roha, TheFamilyLab, AllBlanc, Verses, Yeastudio, VTouch, BeJewel and Volla. From here, the candidates will proceed to the next round where three finalists will be narrowed down, to be each awarded prize money of 100 million won ($90,000) from the Ministry of SMEs and Startups.

LG Display will mentor all eight startups so that their ideas can be turned into products, as well as support their product launches and distribution plans.

This contest is a part of the governmental efforts to foster a sustainable relationship between corporations and startups, LG Display explained.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)