Hyundai Motor Group Launches ZER01NE 3 Fund to Invest in Innovation Across Various Sectors
Key Ideas
- Hyundai Motor Group establishes ZER01NE 3 Fund to invest in promising startups focusing on AI, robots, and hydrogen, aiming to overcome R&D limitations and foster new business ideas through collaboration.
- The fund, totaling 125 billion won, involves investments from various Hyundai subsidiaries and is geared towards discovering and investing in early-stage startups in areas like AI, robotics, hydrogen, and cybersecurity across Asia.
- The initiative aims to drive synergies among Hyundai affiliates, facilitate future business growth, and promote partnerships between startups and group companies, emphasizing open innovation and creative idea-sharing.
- Hyundai Motor Group envisions accelerating its presence in innovative technologies by supporting startups, fostering collaborations, and tapping into emerging markets in Korea, Japan, and Southeast Asia through this fund.
Hyundai Motor Group has introduced the ZER01NE 3 Fund to directly invest in upcoming startups with a focus on diverse fields such as artificial intelligence (AI), robotics, and hydrogen. The initiative, launched in Seoul, South Korea, aims to address the limitations in the group's own research and development efforts by collaborating with innovative startups to explore fresh business opportunities. With a total funding of 125 billion won, contributed by Hyundai Motor Company, Kia, Hyundai Motor Securities, and other group entities, the fund will target early-stage companies in Asia, including Korea, Japan, and Southeast Asia. By fostering partnerships through this initiative, Hyundai aims to drive synergies among its subsidiaries, bolster future business prospects, and catalyze growth in areas like AI, robotics, and cybersecurity. The investment strategy underscores the importance of open innovation, where large corporations support early-stage startups in need of funding, while startups bring in novel ideas and perspectives. This move by Hyundai Motor Group signifies a strategic approach to leverage the expertise of startups and pave the way for advancements in technology and business expansion in the dynamic markets of Asia.