The famous “Toyota Way” has propelled the brand to be the world’s largest automobile company. But it may also have been a burden in adapting to the rapidly changing automotive landscape.
Establishing a recurring way of working with external — and often nimbler — startups would provide new avenues of innovation.
Starting with a public announcement of the program, it solicited over 500 companies to apply. Over the course of eight months, we selected five companies as winners of Toyota Next.
One of the winners, ShareNori, a C2C car sharing startup was acquired by Toyota.
I&CO worked with Toyota on the new positioning, renaming and branding of the new service, RideNow.
Startups and companies that applied to Toyota Next
An 1.5% increase in Toyota’s stock price after Toyota Next’s announcement, equalling $3.8B in value