Kicking off “0→1 Challenge 2019”

The 0→1 Challenge program was launched in 2018 to provide an opportunity for individual employees to propose new businesses irrespective of position, department, or length of career. Sumitomo Corporation promotes it as an initiative for “creating the next-generation businesses,” one of the three pillars of growth strategy under the Medium-Term Management Plan 2020, aiming to encourage individuals to materialize new business ideas. Appropriate support systems have been built, specifically to allow applicants to obtain advice from external experts for individual ideas. The recent two-day kick-off event was attended by many fresh aspiring intrapreneurs.

The event consisted of a briefing session on the program and invited lectures from an experienced intrapreneur from outside of the company as well as Norifumi Suzuki, representative director of 01Booster Inc., a partner advisor to the program. Mr. Suzuki talked about the mindset essential to business creation, saying: “Those starting up a new business face a wave of seemingly irrational challenges. You have to work through a constantly changing chaotic situation. The key to success lies with the entrepreneur’s passion.”

Applications for the 2019 program must be received by July 21, to qualify for the screening process including the pitch contest*. Selected proposals will be developed for commercialization by the applicants in the company. Sumitomo Corporation respects each employee’s entrepreneurial aspiration and supports its fulfillment, looking to explore new business models to effectively respond to the changes of the times.

*In the pitch contest, each applicant makes a brief presentation to pitch their ideas.