KIYOSU, Japan--(BUSINESS WIRE)--Toyoda Gosei Co., Ltd. will establish a Corporate Venture Capital Department in January 2019. This new department will serve as the company’s center for flexible and swift investment in startups and venture capital to accelerate open innovations for practical application and commercialization of new technologies and products.
Toyoda Gosei formulated its medium and long-term business plan, the 2025 Business Plan, in May 2018 as a guide to acting flexibly and rapidly in a dramatically changing business environment. In a key area of activities in the Plan, “Venture into Innovation and New Mobility,” the company is developing e-Rubber, a next-generation artificial muscle for robots and other applications, modular automotive products with human-machine interface functionality that will serve as a bridge between humans and automobiles in autonomous driving, and other new technologies and products.
In order to commercialize them, the Corporate Venture Capital Department will invest quickly in startups that are promising for synergy with Toyoda Gosei’s core technologies. The department will have an operating budget of 3 billion yen, and will invest it for a period of two years starting in January 2019.
Outline of new department
|Name||Corporate Venture Capital Department|
|Operating budget||3 billion yen|
|Period of investment||January 2019 to December 2020 (2 years)|
|1. Startups with resources and technical abilities in the following four fields:|
|(1) Robotics, (2) Semiconductors, (3) Next-generation automotive parts, and (4) Materials|
|2. Venture capital to gather information on the above startups|
About Toyoda Gosei
Established in 1949 and headquartered in Kiyosu, Aichi Prefecture, Japan, Toyoda Gosei is a leading specialty manufacturer of rubber and plastic automotive parts. Today, the Toyoda Gosei Group provides a variety of high-quality products internationally, with a network of approximately 100 plants and offices in 18 countries and regions. Through its flexible, integrated global supply system and leading-edge technologies, Toyoda Gosei aims to grow as a global company that acts flexibly and swiftly in today’s dramatically changing business environment, delivering the highest levels of satisfaction to customers worldwide through safety, comfort, well-being and the environment.