Hyundai Motor Group has spun off three in-house startups in various fields, not just in the automotive sector, in the first half of this year. With this move, the number of startups spun off by the Hyundai Motor Group has increased to a total of 25 from 2003 to this year.
On the 4th, Hyundai Motor Group announced that it has spun off promising in-house venture companies such as ‘Defon,’ ‘Auto,’ and ‘DataMonde.’ These companies are expected to collaborate with Hyundai Motor Group in various business areas in the future.
Defon has developed a ‘light transmittance variable window film’ that allows users to adjust the amount of sunlight penetrating the window as desired. The light transmittance variable window film, produced using Hyundai’s proprietary technology, can be applied not only to vehicles but also to buildings. It is characterized by easy installation according to optimized designs, competitive pricing, blocking harmful ultraviolet rays, and saving heating and cooling energy, addressing the shortcomings of conventional sunshade methods.
AutoL is developing a high-resolution LiDAR sensor for autonomous driving with secured performance, size, and competitive pricing. LiDAR is a technology that can perceive objects more precisely than radar. While LiDAR products currently on the market are expensive and can only be mounted externally on vehicles, AutoL’s LiDAR is receiving positive evaluations for its small size, precise perception of the surrounding environment, and competitive pricing.
DataMonde provides a service that offers easy and convenient use and accumulation of purchase points through its customer participation point platform ‘Point Monster.’ It features a ‘pre-use and post-registration’ method, allowing businesses to be registered as franchise stores through customer point usage, significantly shortening the franchise store registration process.
Hyundai Motor Group has been supporting employees with creative ideas and creating momentum for future new business development through its in-house startup nurturing program, ‘Venture Plaza,’ since 2000. Starting this year, the program name has been changed to ‘Zero One Company Builder,’ integrating it with the existing open collaboration platform ‘Zero One,’ expanding the business selection scope from automotive-centric to various fields.
The group evaluates employees who submit ideas through documents, interviews, workshops, and presentations, then provides selected companies with opportunities for product/service development and commercialization for one year. It also supports development costs of up to 300 million won. After one year, the group reviews business performance, financial plans, entrepreneurial intentions, etc., and decides whether to spin off or internalize the business. Opportunities for reemployment are provided for up to three years after spin-off. Hyundai Motor Group has selected and nurtured 58 teams through this system so far, spinning off a total of 25 companies until this year.
[Reporter Seo Jin-woo] [ⓒ Maeil Business Newspaper & mk.co.kr, unauthorized copying and redistribution prohibited]
