Hyundai Motor Group announced on the 4th that four in-house startups have spun off. All were nurtured through the in-house startup program, ‘Zero One Company Builder.’
The newly independent startups include ‘Solastic,’ which produces lightweight and freely designed solar modules using plastic packaging; ‘ROAI,’ which supports manufacturing process automation through robot autonomous control technology; ‘HVS,’ which develops materials and solutions to prevent moisture and corrosion; and ‘Flexon,’ which manufactures eco-friendly automotive parts materials.
Solastic manufactures solar modules for vehicles and building roofs. It reduces the cost and weight of solar modules using plastic and creates modules in desired designs through plastic molding techniques. ROAI provides a robot planning solution that can program hundreds of industrial robot arms simultaneously on manufacturing sites using AI-based robot control technology.
HVS makes moisture-absorbing components that prevent humidity during the transportation of lamps and batteries, using a self-developed new material renowned for its moisture-removing capabilities. Flexon has the technology to replace traditional wheel balance weights, made from lead and fluorocompounds, with eco-friendly composite materials. They also manufacture battery explosion-proof and heat-dissipating pads that are effective in preventing electric vehicle battery explosions and heat spread by utilizing functional materials.
Hyundai Motor Group initiated the in-house startup nurturing system ‘Venture Plaza’ in 2000 and has been promoting the discovery and nurturing of in-house startups under the name ‘Zero One Company Builder’ since 2021. They select and nurture business items that possess marketability and innovation, not only in group-related fields such as mobility, automotive parts, and software but across all areas.
In-house startups whose ideas are selected receive development support of up to 300 million won. Each startup undergoes a one-year period for product and service development and commercialization, after which they are evaluated for possible spin-off or internal commercialization. Upon spin-off, Hyundai Motor Group participates in the startup’s equity with an investment of 100 million won and considers additional investments based on the expansion of cooperation with the group. To alleviate the burden on employees, they are also provided an opportunity to rejoin the company within three years after the spin-off.