Building Solutions-Based Business Models
Message from the General Manager of the New Business Incubation Center
We will accelerate our initiatives to create solutions businesses that leverage the strengths of the Mitsui Chemicals Group by enhancing our business design capabilities and promoting the creation of new businesses by pursuing cross-organizational ties and deepening cross-company partnerships.
The New Business Incubation Center has been creating new businesses through collaboration with external partners such as startups and academia that have a high affinity with the Mitsui Chemicals Group, and building and developing solutions-based business models, one of the Basic Strategies of VISION 2030. Launched as a new organizational structure in April 2022, it actively seeks to strengthen internal collaboration by participating in Group-wide strategy meetings in order to further accelerate the creation of new business.
In July 2022, we established a corporate venture capital (CVC) as a new initiative. This CVC, which is called 321FORCE™, will promote not only collaboration with internal and domestic partners, but also strengthen ties with external partners with an eye to the global market. In addition, by utilizing this CVC, we will model an intelligence platform across the entire Group to strengthen our business design capabilities, and through the sharing of entrepreneurial spirit among all employees, the New Business Incubation Center will become the driving force for business portfolio transformation in the VISION 2030 strategy. In this way, we will aim to contribute to the realization of a sustainable society through chemistry.
General Manager, New Business Incubation Center
Role of the New Business Incubation Center
- Collaborate with the R&D divisions, or build and strengthen collaborations with external partners such as domestic and overseas startups by leveraging corporate venture capital (CVC), in order to create and utilize technologies that will become the core of new businesses.
- Collaborate with the Group’s manufacturing divisions or with suitable external partners, in order to build an optimal supply system for the provision of goods and services.
- Collaborate with the four business sectors to promote market development and the construction and expansion of sales networks globally.
- Collaborate with functional divisions such as digital transformation, corporate sustainability, and finance & accounting, to improve efficiency and conduct organizational management that meets the needs of the times and society.
New Business Incubation Center Organization
Innovations in cell culture technology
TopicsInvestment in Shoulder Innovations, a Shoulder Replacement Implant System Company
Mitsui Chemicals, Inc. has invested in shoulder replacement implant system company Shoulder Innovations Inc., headquartered in Michigan, U.S., via 321FORCE Global Innovation Fund L.P. (321FORCE™; managed by Global Brain Corporation).
Shoulder Innovations is a medical device development company that designs and commercializes innovative products which demonstrate the potential for improved patient care and reduced overall cost to the healthcare system.
Mitsui Chemicals has positioned the orthopedic surgery sector as a future growth field within its Life & Healthcare Solutions business strategy, which was outlined in the company’s VISION 2030 Long-Term Business Plan. And with shoulder implant regarded as a particular growth field within the orthopedic surgery sector, Mitsui Chemicals has decided to explore business opportunities in this realm by investing in Shoulder Innovations via 321FORCE™.