Oct 23, 2023 19:41 JST

Source: Honda Motor Co, Ltd

Honda to Expand Eligibility for Participation in IGNITION, Honda's New Business Creation Program, Starting November 2023
- Honda will support individuals with original technologies and ideas to realize their dreams to solve societal issues and create new value -

TOKYO, Oct 23, 2023 - (JCN Newswire) - Honda Motor Co., Ltd. (Honda) will expand the eligibility for participation in its new business creation program, IGNITION, from the current “Honda associates in Japan” to “any individuals and businesses in Japan,” and begin accepting applications in November 2023.

IGNITION is a new business creation program Honda has been conducting for the purpose of giving shape to the original technologies, ideas and designs of individuals with high aspiration and strong passion that contribute to solving societal issues and creating new value for customers.

IGNITION started in 2017 as a new business creation program targeting associates of Honda R&D Co., Ltd., a R&D subsidiary of Honda in Japan, then, in 2021, the eligibility for participation was expanded to include all Honda associates in Japan.  

Now, the eligibility will be expanded to any individuals and businesses in Japan. By combining the ideas of people outside the company with Honda’s technology and knowledge, Honda will further strive to contribute to solving various society issues and creating new value for people. Moreover, through this program Honda will explore opportunities for future collaboration and alliances by supporting individuals and businesses outside Honda.

Any individuals who aim to start a business and any startups within three years from the start of their business and still in the “seed stage”(1), in Japan, are now eligible to participate in the IGNITION program. Honda is in search of participants who are willing to further refine their ideas and realize their dreams through co-creation with Honda. The IGNITION program is planning to set four themes for applications: 1) carbon neutrality, 2) robotics, 3) mobility and 4) production/manufacturing technology.

The participants who pass the first round of evaluation will work to create/start up new business while receiving support from a team consisting of Honda experts in various areas, including technology development, design and business development, during the six-month to a year period leading up to the second round of evaluation.

The participants who pass the second round and the corporate venturing (CV) consultation(2) will be offered multiple options in how to pursue their business, such as receiving a capital contribution from Honda(3), in addition to collaboration and cooperation with Honda.

Overview of IGNITION program participation

  • Eligibility: Any individuals who aim to start a business and any startups within three years from the start of their business and still in the “seed stage”, in Japan
  • Available support: Support from a taskforce team consisting of Honda experts
  • Support period: A period of approximately six months to one year after passing the first round and before the second round of evaluation
  • Start-up options: Multiple options will be offered on a case-by-case basis, including starting up the business in collaboration/cooperation with Honda or receiving a capital contribution by Honda.

IGNITION program schedule (plan)(3)

Briefing session for participants
November 2023

Call for applications
Mid - November, 2023 – January 31, 2024

Screening
February – March 2024

First round evaluation
April 2024

Second round evaluation
September 2024

CV consultation
October 2024 – March 2025

How to participateAccess IGNITION program official website and fill an online entry form here:https://global.honda/jp/ignition/ (Japanese only)

(1) Among the growth stages of venture companies, the “seed stage” is a preparation period before or shortly after the establishment of a company.
(2) Honda's internal consultation that makes decisions on capital contribution to startups.
(3) This schedule is subject to change without prior notice. For the latest information, please check the official website of the IGNITION program.

Source: Honda Motor Co, Ltd
Sectors: Automotive

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Honda and IBM sign Memorandum of Understanding to Explore Long-term Joint Research and Development of Semiconductor Chip and Software Technologies for Future Software-Defined Vehicles
May 15 2024 13:30 JST
 
Honda Opens New R&D Facility in Bengaluru to Accelerate Electrification in India
May 09 2024 13:13 JST
 
POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
April 29 2024 13:25 JST
 
Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
April 29 2024 13:16 JST
 
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
April 25 2024 15:50 JST
 
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
April 25 2024 10:10 JST
 
Honda Unveils Next-generation EV Series for China
April 17 2024 11:15 JST
 
Nissan and Honda to start feasibility study of strategic partnership
March 18 2024 11:14 JST
 
Honda Presents World Premiere of Production Model of "CR-V e:FCEV" at H2 & FC EXPO Tokyo
March 01 2024 20:30 JST
 
HRC Enters CR ELECTRIC PROTO in International Electric Moto Racing Series
February 02 2024 18:13 JST
 
More Press release >>

Latest Press Release


More Latest Release >>