TOKYO: SPARX Group Co., Ltd. announced that its Mirai Creation Fund-II has invested in VISITS Technologies, a supporter of innovation generation primarily through its patented technology, which it calls “Consensus Intelligence technology” (CI technology), an algorithm for achieving consensus.
With this round of fundraising, the company plans to accelerate its business development and bolster the development structure for its CI technology-based innovation generation product.
VISITS Technologies created its patented consensus formation algorithm (CI technology) based on its vision of “allowing anyone to innovate through a scientific approach.” “Innovation” is becoming a keyword in all aspects of corporate operations, including recruitment, training, organization building, and business generation.
The CI technology the firm developed enables the scientific analysis of several ideas developed during the innovation generation process based on network theory, leading to discovery of indicators that maximize empathy and understanding of specific ideas.
These functions make this technology a useful tool for objectively choosing innovative ideas to pursue or for raising the innovative capacity of human resources and organizations. In April 2019, VISITS Technologies launched its Innovation Tech Consortium, which has roughly 60 members, largely government agencies and major corporations. This consortium is a stalwart supporter of innovation generation using CI technology.
The Mirai Creation Fund I began operations in November 2015 with financing of JPY13.5 billion from three companies: Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and SPARX, the Fund’s general partner. Ultimately, the Fund received contributions from 20 companies, including the above three. Casting intelligent technologies, robotics, and hydrogen-economy technologies as core technologies of the future, Fund I has invested in approximately 50 companies and projects—from the US, the UK, Israel, Singapore, and Japan—that possess innovative technologies in these fields.
In H2 2018, SPARX began managing the Mirai Creation Fund II, which targets the three existing Mirai Creation fields, along with the two additional areas of electrification and new materials. As of June 30, 2019, the combined AUM for Fund I and Fund II were ¥109.3 billion.