[Asia Economy Reporter Kim Hyewon] Three in-house startups in Hyundai Motor Group's future new business sector have newly launched as independent companies.
On the 4th, Hyundai Motor Group announced that it has spun off three promising in-house ventures: 'Difon', 'AutoL', and 'DATAMOND'.
The three startups spun off in the first half of this year are ▲ Difon, which developed a smart window film that allows users to control the amount of sunlight ▲ AutoL, which develops high-resolution LiDAR for autonomous driving with high performance, small size, and cost-effectiveness ▲ DATAMOND, which provides easy and convenient customer-driven point services. These companies plan to enter new business areas with marketability and innovation beyond automotive-related businesses and will carry out various collaborations with Hyundai Motor Group.
Difon developed a 'variable transmittance window film' that allows users to adjust the amount of sunlight passing through windows as they desire.
The variable transmittance window film, made with Hyundai's proprietary technology, can be applied not only to vehicles but also to buildings. It features an optimized design that is easy to install, price competitiveness, blocking of harmful ultraviolet rays, and reduction of heating and cooling energy, solving problems of existing shading methods.
AutoL is developing a high-resolution LiDAR sensor for autonomous driving that secures performance, size, and price competitiveness. Currently available products are expensive and must be mounted protruding outside the vehicle. In contrast, AutoL's LiDAR overcomes the limitations of existing LiDARs by being compact while recognizing the surrounding environment more precisely, offering excellent price competitiveness and easy vehicle installation. AutoL plans to provide products to automakers and partners after completing harsh condition verification for vehicle application and prepare for mass production.
DATAMOND offers easy and convenient point usage and accumulation services through its customer participation point platform called 'Point Monster.' It features a 'use first, register later' method that allows merchants to be registered through customers' point usage, drastically shortening the merchant registration process. Even if not registered as a merchant, partnerships can be established within one minute through customer proposals, providing a point lifestyle centered on customers' lifestyles rather than supplier companies.
Hyundai Motor Group has nurtured in-house startups since 2000... Renamed 'Zero1 Company Builder' from this year
Hyundai Motor Group has operated an in-house startup nurturing program called 'Venture Plaza' since 2000 to support employees with creative ideas and create momentum for future new business promotion.
From this year, the program name was changed to 'Zero1 Company Builder' and integrated with the existing open innovation platform brand 'Zero1,' expanding the scope of business selection from mainly automotive to various fields.
To support Zero1 Company Builder, Hyundai Motor Group conducts screening of employees who submitted ideas through document review, interviews, workshops, and presentations, and selected companies receive up to 300 million KRW in development costs along with opportunities for product/service development and commercialization for one year.
After one year, business feasibility, financial plans, and entrepreneurial will are reviewed to decide whether to spin off or commercialize the business in-house. Additionally, to reduce the burden on employees entering new fields, re-employment opportunities are provided for up to three years after spin-off.
Even after spinning off in-house startups, Hyundai Motor Group supports business development and expansion, securing operating funds, and overseas expansion through its open innovation platform Zero1 to enhance corporate competitiveness.
Through this system, Hyundai Motor Group has selected and nurtured 58 teams so far and spun off a total of 25 companies by this year. Last year, a total of 10 in-house startups launched as independent companies, and the group plans to nurture and spin off about 10 in-house venture companies annually going forward.
A Hyundai Motor Group official stated, "To transform into a 'smart mobility solution company' that provides customers with seamless freedom of movement and differentiated customized service experiences, we will continue active open innovation activities along with efforts by employees to discover and commercialize innovative and creative ideas."
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