#Japan #Nagoya #Toyota Connected #Entrepreneurial Spirit #iii Program

Expanding the Spirit of Entrepreneurship at Toyota Connected

Toyota Connected Inc., headquartered in Nagoya, Aichi Prefecture and led by CEO Keiji Yamamoto, has announced the successful conclusion of Phase 1 of their new business creation program known as "iii" (pronounced: Eyes). This unique initiative is modeled after the Entrepreneur in Residence (EIR) system, which invites external talents with promising business ideas to participate in the co-creation of business plans from the selection phase onward. Unlike conventional hiring practices, "iii" seeks to innovate the way Toyota Connected evolves into a future-ready company, amplifying its core attributes of vitality and resilience as it looks ahead to the next 25 years and beyond.

During Phase 1 of the program, more than 60 applications were received, culminating in three finalists who pitched their ideas to the panel, ultimately selecting one individual to advance further in the program.

Adapting the EIR Model for Toyota Connected

The EIR concept, employed by leading global tech firms and investment firms like Andreessen Horowitz and Sequoia Capital, allows for the incubation of entrepreneurs in-house to foster innovative startups. Toyota Connected's "iii" program takes this global standard and tailors it specifically to fit the company's unique environment with three distinct adaptations:

1. Incorporating a welcoming stance toward external entrepreneurs as part of the EIR model.
2. Merging the recruitment process with business creation initiatives.
3. Upholding a commitment to market readiness within a two-year timeframe.

This hybrid approach not only opens doors to new talent but also encourages joint development of business strategies right from the recruitment phase, significantly accelerating the timeline from concept to execution. The program aims to establish a sustainable foundation for dynamic business innovation using an adaptable model that aligns with Toyota Connected's needs.

Background: Revolutionizing the Business Creation Framework

In 2019, Toyota Connected established its Forward Planning Department, using an experimental research system to drive technology validation and business development. Building upon insights garnered from previous initiatives, the "iii" program was devised to enhance the speed of commercialization. It seeks to tackle two critical themes: overcoming the challenges that large corporations face in cultivating new business ventures and securing skilled business personnel who can deliver immediate value. By combining these two efforts, Toyota Connected launched the pilot of this program.

Distinctive Features of the 'iii' Program

The name "iii" stands for "innovative impact initiative," and its foundational philosophy centers around the notion that "fun is the right path." The premise is that a work environment conducive to taking challenges leads to genuine business innovation. The application window runs from September 14 to November 2, 2025, with the final pitches scheduled for February 25, 2026.

A significant aspect of the program is the transformation of the selection process into a collaborative space for new business development. During Phase 1, applicants worked alongside company employees to refine their business ideas, examining market viability, potential for synergy, and feasibility. This approach focuses on co-creating business strategies rather than merely evaluating proposals. In contrast to traditional hiring methods centered around resumes and interviews, this program emphasizes practical evaluation of business conceptualization and execution capabilities in conjunction with cultural fit within Toyota Connected.

Insights from the Project Leaders

Project Head, Haru Inao, General Manager of New Business Promotion at Forward Planning Department

"We believe that resilience in challenging situations and curiosity to explore the unknown are quintessential traits of Toyota Connected. The 'iii' initiative embodies the merging of this corporate culture with the entrepreneurial spirit of external talents. Our goal is to democratize the opportunity for business creation, fostering an ecosystem where challenges generate continuous innovation. This trial phase is just the first step toward building a sustainable culture of value creation."

Project Promoter, Aizuki Oka, Business Incubation Unit at Forward Planning Department

"We started our selection process with the applicants' desires as a foundation, combining this with our expertise and resources to make the selection process a collaborative space for growth. We have translated discussions into actionable next steps, which marks a significant achievement. Our aim is to deepen internal engagement and expedite business realization within a two-year timeframe."

For more details about the 'iii' project and the forward planning department at Toyota Connected, visit their website: Toyota Connected and Note.