#Japan #Tokyo #SusHi Tech #Tokyo Startups #GROWTH Program

Overview of SusHi Tech Global Growth Acceleration Program (Phase 3)

Tokyo has embarked on a journey to enhance its startup ecosystem with the updated strategy known as "Global Innovation Strategy 2.0 STARTUP& SCALEUP." This initiative positions global expansion and scaling up as the key pillars for supporting companies aiming for remarkable growth on an international scale. In this spirit, the program called "SusHi Tech Global" has already recognized 114 startups under the "SusHi Tech Global Startups" umbrella and has provided tailored support based on an in-depth assessment of each company's unique challenges and growth stages. Moving forward, the intention is to continue identifying promising startups, ultimately forming a cohort of around 100 to 150 companies.

The Growth Acceleration Program

This program aims to expedite the growth of select startups from the SusHi Tech Global Startups initiative by offering funding and customized support. It is important to note that this phase focuses on startups that are at a critical juncture for global expansion, with the potential for rapid scaling.

The Growth Acceleration Program will support approximately ten initiatives chosen for their ability to contribute significantly to global growth. Each initiative can receive funding of up to 200 million yen and will benefit from bespoke support based on their specific requirements. The overarching goal is to facilitate the startups' transition to global markets effectively.

Requirements for Eligible Projects

To qualify for this program, projects need to meet the following criteria:
1. Global Growth Relevance: The initiative must have the potential to contribute significantly to growth on an international scale.
2. Economic and Social Impact: Projects should bring considerable economic or social value.
3. Bold Challenges: Initiatives must represent bold challenges that make effective use of the funding support provided by the Tokyo Metropolitan Government.

Support Offered

The following support will be provided to the selected startups:
1. Financial Support: Each project can receive up to 200 million yen in funding.
2. Customized Support Programs: The program will provide tailor-made support packages based on the specific needs of the startups, in cooperation with global partners. This includes:
- Expert guidance in developing and validating overseas expansion strategies, assisting with business negotiations, and facilitating connections with potential investors and venture capitalists through local events and exhibitions.
- Access to a network of innovation campuses and overseas partners managed by CIC Japan Innovation Services, helping startups secure immediate local presence, navigate business development, and establish local entities.

Application Schedule

The details regarding the application for this program will be made available in early December of the following year. Interested parties should keep an eye on the SusHi Tech Global website for the specifics.
SusHi Tech Global Website

About SusHi Tech Global

SusHi Tech Global is committed to identifying and nurturing promising startups with outstanding technologies through the SusHi Tech Global Startups initiative. This program is designed to address different challenges concerning talent, business, and funding strategies, partnering with various supporters from around the globe.

Additionally, to promote a society less reliant on fossil fuels, a new program called the "Resilience Enhancement Program for Resources and Energy" has been established, also offering funding and support of up to 200 million yen per project.

Furthermore, from the cohort of startups that successfully complete the growth acceleration and resilience enhancement programs, the most promising businesses will be selected for an exclusive "Global x Scale-up Program," which offers support of up to 1 billion yen.

The initiatives outlined are part of the efforts for the "2050 Tokyo Strategy," specifically promoting the nurturing of startups capable of thriving on the global stage.