One might think that the Toyota Research Institute (TRI), founded with a billion-dollar investment and a mission to develop artificial intelligence and advanced robotics, wouldn?t need to look elsewhere for fresh ideas. But even with the resources of one of the world?s biggest automakers behind it, executives with company?s research arm acknowledge that they can only do so much.
?The [number] of startups is incredible,? said Gill Pratt, chief executive officer at TRI, speaking specifically of the transportation technology sector. ?No matter how successful I or other OEMs or even tech companies are at hiring, we?re still missing out on innovation at these startups.?
To harness some of that talent, TRI announced at the Automated Vehicles Symposium in San Francisco that it?s starting a venture-capital fund that will provide early-stage funding for startup technology companies. The company has set aside an initial $100 million and has already made investments in three companies.
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?The auto industry is changing from data being an exhaust of the product to, now, data forging the product.?

? Jim Adler, Toyota AI Ventures

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The initial class includes: Nauto, a Silicon Valley startup creating computer-vision software that monitors driving habits and distills data-based insights for fleets; SlamCore, a British company developing mapping for autonomous cars with a focus on power efficiency; and Intuition Robotics, an Israeli startup focused on robotic companions for lonely a...