Pushing New Frontiers Beyond Boundaries
Applicable ideas and collective intelligence are ingredients that make future mobility fuller and richer. Today, when innovation is commonplace, Hyundai Motor Group is trying to pioneer a new horizon of innovation through collaboration with startups, academic experts, and young creators, knowing that ideas that change the world lie not only inside the company but outside.
A Guide to The Future Mobility
To transcend the previous role as an automaker and to become a smart mobility solution provider, Hyundai Motor Group is creating a culture where innovative ideas and creative collaborations can freely be exchanged. And Hyundai CRADLE is a representative of that ongoing effort. Smart mobility is an umbrella term that includes both new mobility services and vehicles that can capably perform those services. The concept was born because our existing technologies and their narrow definitions of mobility could not respond well to the industry that is not just becoming more complex but also constantly expanding.
TECHNOLOGYOpen Innovation of Hyundai Motor Group
‘Open innovation’ refers to a strategy that embraces new technologies from outside the company and drives innovation. It is to share knowledge and openly develop innovative technologies in the rapidly changing trend of the information age. Therefore, Hyundai Motor Group is implementing open innovation that can provide and contribute to future businesses by discovering and applying core technologies that will lead to innovation. Starting with Silicon Valley, the company is actively seeking to find, invest and nurture promising start-ups and secure future competitiveness through ‘Hyundai CRADLE’, which serves as a key hub for global technology development, ‘ZER01NE’, where companies and partners seek solutions together based on creative issues of artists, and ‘H-Startup’, an in-house startup.
KEY POINT1. Global Innovation Hub
Hyundai CRADLE is Hyundai Motor Group’s corporate venturing and open innovation business, which partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies, such as AI, mobility, autonomous driving, smart city, or robot-related ones. CRADLE identifies newly established and promising startups that focus on innovations.
Hyundai CRADLE has five offices around the world―starting from Silicon Valley, Tel Aviv, Beijing, Berlin, and Seoul. (CRADLE Singapore to be established in 2021)
Each regional CRADLE leads the ‘Global Disruptive Innovation’ in cooperation with the domestic ZER01NE platform. To achieve this goal, Hyundai Motor Group is discovering promising startups with technological competitiveness located in each region, conducting technology verification, and proactively securing strategic partnerships and investment opportunities. CRADLE aims to create a sustainable mobility ecosystem by going through a wide variety of open innovation collaboration opportunities around the world.
2. One From Zero
ZER01NE is a new type of open innovation platform that enables bright minds to spread their imagination to the fullest, and it represents an ‘open playground’ where they can pursue their dreams. ZER01NE seeks answers from fundamental questions about people and society and contribute to real-life changes. Art, technology, and industry join to spread a culture of creative innovation to companies and society.
ZER01NE creative talents, called creators, are composed of diverse backgrounds, such as artists, architects, developers, and engineers, and freely collaborate at ZER01NE to try new and creative projects. ZER01NE conducts projects to find new solutions that will change society through Hyundai Motor Group’s investment/incubation program.
‘ZER01NE Day’ served as a venue to introduce creative projects and ZER01NE startups to the public. At each booth, creators, startups and visitors freely exchange ideas about project outcomes, and other events such as stage performance and conferences also welcome the visitors.
3. Synergy in Energy: Hyundai Motor Group
Any employees who have an idea for a business item based on their technology and know-how accumulated through work can knock on the H-Startup door. Up to 300 million KRW can be supported for developing the idea after it has been reviewed and evaluated. Then, you get 1 year for the product/service development for commercialization.
H-Startup has thus far cultivated 58 company startups, and about half of them, 22, have launched separately outside the company. Business areas are of various fields in relation to Hyundai Motor Group businesses such as mobility, automobile parts, and SW service. Even unknown yet innovative business ideas can be accepted.
Since beginning as an H-Startup in 2016, Poled has been developing and selling baby car seats. Poled’s CEO Lee Hyung-moo got the idea for the business and knocked on the H-Startup door when he had his first child and needed a car seat; he thought he could make his own safe baby car seat.
Coconut Silo is operating a platform service business that matches freight automobiles for Southeast Asian countries including Vietnam. Businesses can cut transportation costs through their services which provide truck information, optimum route algorithm, trace algorithm, etc.