The IGNITION program was initiated in 2017 by
In the meantime, there also were proposals that could deliver value to society more quickly if they were pursued through a startup business venture, taking advantage of the unique characteristics of startup companies; therefore, in 2020, IGNITION added an option to strive for commercialization of new business ideas through business ventures, in addition to commercialization inside Honda.
Moreover, in
IGNITION is collaborating with a venture capital firm which participates in the final round of the evaluation as one of the jurors examining each proposal from the exacting perspective of an investor. Moreover, the proposers have access to advice and support from the venture capital firm during the evaluation process.
About IGNITION:
All full-time Honda associates in
Ideas that pass the final evaluation process will be commercialized within Honda or by establishing a business startup company.
In principle, the decision on commercialization will be made within a 6-month period, during which a taskforce team consists of internal specialists to be formed to support each proposer.
The venture capital firm will provide advice and support to each proposer throughout the evaluation process.
In order to ensure independence of the startup, the ratio of capital contribution by Honda will be limited to no more than 20%.
Comment by
"At Honda, there are many associates who have a passionate desire to help people and contribute to society using their original technologies and ideas. IGNITION is a program which fosters and gives shapes to such technologies and ideas of Honda associates and enables them to create new value that contribute to solving social issues. We are now expanding the program to include all associates in
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