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Innovative Grant for SMEs in Tokyo

The Tokyo Metropolitan Small and Medium Enterprise Support Center has recently launched a grant program aimed at fostering innovation among local small businesses. This initiative, titled the "New Product and New Technology Development Grant," provides funding to bolster research and development efforts, with the goal of revitalizing tokyos industrial landscape.

What is the Grant Program?

The primary aim of this grant program is to assist small businesses and those planning to start new ventures in Tokyo by subsidizing a portion of the expenses related to research and development of new products and technologies. The initiative encourages enterprises to enhance their technical expertise and explore new market opportunities.

Key Highlights of the Program

1. Maximum Grant of 25 Million Yen: The program covers a wide array of expenses directly related to research and development, including personnel costs, materials for prototypes, and machinery or tools necessary for the development process.

2. Enhanced Funding Rates: Small businesses with an approved wage increase plan can benefit from an increased funding rate. Typically, the funding covers up to half of the expenses, but this can expand to cover three-quarters for small enterprises and four-fifths for micro enterprises.

3. Online Application Process: The application process is streamlined through the national digital agency's electronic system, known as "J-Grants." However, potential applicants will need to register for a "G-Biz ID Prime Account" prior to applying.

Eligible Research and Development Areas

The grant supports various areas of research and development, particularly focusing on:

• - Development of Products and Services: This includes designing, producing, and testing prototypes of hardware or software aimed at commercialization.
• - Creation of Innovative Services: Applicants can also pursue projects that involve the design and production of tangible means to deliver new services.

Program Overview

Who Can Apply?

• - Small and medium-sized businesses conducting substantial business activities at their headquarters or branches in Tokyo.
• - Individuals with concrete plans to start a business within Tokyo.

Eligible Funding Period

From September 1, 2023, to May 31, 2024, allowing up to one year and nine months for fund usage.

Funding Categories

Expenses that qualify for funding include:

• - Raw materials and auxiliary materials costs
• - Machinery, tooling, and equipment costs
• - Outsourcing and consulting fees
• - Industrial property application and overhead costs
• - Direct personnel expenses

Funding Limits

The maximum grant limit is set at 25 million yen, with a standard reimbursement rate of 50%. This rate can increase for companies with active wage increase plans.

Application Schedule

Please note that the application and selection timeline is subject to change, and certain documentation will only be necessary for applicants who pass the initial review stage.

How to Apply?

Starting March 27, applicants can submit their electronic applications through the J-Grants platform. For further information, interested parties should check the support center's official website and the detailed application guidelines.

Useful Links

• - Public Corporation Tokyo SME Promotion Corporation
• - Application Guidelines

Note that a G-Biz ID is required for J-Grants application and it is advised to apply well in advance due to the review process's expected time.

Contact Information

For questions or further clarification, please contact the designated department:
Tokyo Metropolitan SME Promotion Corporation
Assistance Division - New Products Grant Office
Phone: 03-3251-7894
Email: [email protected]

Explore this opportunity to unlock potential growth and innovation for your business in Tokyo!