Toyoda Gosei has revealed plans to set up a Corporate Venture Capital Department in January 2019. The Department will serve as the hub for easy and flexible in startups which specialize in advanced automotive parts and materials and will promote open innovations which can lead to the development and commercialization of new technologies and products.
Toyoda Gosei is headquartered in Kiyosu, Aichi Prefecture, Japan and its Corporate Venture capital Department will have an operating budget of 3 billion yen. The investment period will be for two years from January 2019-December 2020. The company plans to invest in startups having expertise and technical abilities in four areas: robotics, semi-conductors, next-generation automotive parts, and materials. The company will also collect information on the startups.
Toyoda Gosei is a leading specialty manufacturer of rubber and plastic automotive parts and in May 2018 developed a plan called ‘the 2025 Business Plan’ to achieve medium and long-term business growth. Based on the plan, the company will develop greater flexibility to quickly respond to the fast-changing business environment in the automotive sector.
As part of its plan, “Venture into Innovation and New Mobility,” the company plans to develop e-Rubber, a next-generation artificial muscle for robots and other applications, modular automotive products with human-machine interface functionality. These materials and technologies will serve as a bridge between humans and automobiles in autonomous driving.
The Toyoda Gosei Group has a network of approximately 100 plants and offices in 18 countries and regions.
