"Solarstic," "ROAI," "HVS," "FlexOn."
Four in-house startups of Hyundai Motor Group have separated. Recognized for their growth potential, they are now branching out as independent corporations.
The four startups include "Solarstic," which produces lightweight and creatively designed solar modules utilizing plastic packaging; "ROAI," which supports automation in the manufacturing process through robotic autonomous control technology; "HVS," which develops materials and solutions to prevent moisture and corrosion; and "FlexOn," which manufactures eco-friendly wheel balance weights and battery explosion-proof pads.
"Solarstic" manufactures solar modules for vehicles and building rooftops. It utilizes plastic to reduce the cost and weight of solar modules and has competitiveness in producing solar modules with desired designs using plastic molding technology.
"ROAI" provides a robotic planning solution that can program hundreds of industrial robotic arms simultaneously using artificial intelligence (AI)-based robotic control technology. It excels in large-scale data processing technology that automatically performs task decisions for robots and motion planning technology that automatically generates continuous robotic motion without collisions in complex environments.
"HVS" produces and supplies moisture-absorbing components that prevent moisture during the transportation of lamps and batteries. It boasts competitiveness in producing various forms of moisture-absorbing components with an excellent self-developed new material that enhances lifespan.
"FlexOn" possesses technology to replace the traditional materials (such as lead and fluorinated compounds) used for the wheel balance weight, which is a component that balances automotive tires, with eco-friendly composite materials. It also has strengths in manufacturing battery explosion-proof and heat-dissipation pads that effectively prevent battery explosions and heat diffusion using functional materials.
Meanwhile, Hyundai Motor Group has been promoting the identification and nurturing of in-house startups for its employees under the name "ZER01NE COMPANY BUILDER" since 2021, following the initiation of its in-house startup incubation system "Venture Plaza" in 2000.
The system operates to select and nurture in-house startups not only in relevant fields such as mobility, automotive parts, and software but also for any business items equipped with marketability and innovation. In-house startups whose business ideas are adopted receive development expense support of up to 300 million won. Each startup undergoes a one-year period for product, service development, and commercialization, during which the evaluation for separation or internal commercialization takes place.
Upon separation, Hyundai Motor Group engages in equity participation in the startup through an investment of 100 million won and subsequently decides on additional investments based on the extent of collaboration with the group. As a measure to alleviate the burden on employees participating in startups, opportunities for reemployment are also provided for up to three years after separation.
A representative of Hyundai Motor Group noted, "Since the first separation case in 2003, a total of 40 promising startups have gained independence from Hyundai Motor Group and embarked on new challenges over the past 20 years." He added, "Hyundai Motor Group will continue to conduct active open innovation activities to discover innovative and creative ideas from employees and support commercialization while creating synergies together."
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