#Japan #Tokyo #Startup #SusHi Tech

Introduction

In a remarkable move aimed at transforming the landscape for startups in Tokyo, the 'SusHi Tech Global' growth acceleration program has been launched. This initiative is part of the renewed startup strategy 'Global Innovation Strategy 2.0 STARTUP & SCALEUP', implemented in November of the 7th year of Reiwa. The objective? To support startups that are poised for exponential growth on a global scale.

Understanding the Program

Through the 'SusHi Tech Global' initiative, Tokyo aims to concentrate support on promising startups, working alongside diverse stakeholders. The program has established a target group of 100 to 150 startups known as 'SusHi Tech Global Startups'. This selection process involves assessing each startup’s current state and challenges, allowing for a tailored approach to their growth journey. To date, assistance has already commenced for 67 of these startups.

The 'Growth Acceleration Program', a key component of this initiative, was initiated in January, with the first round of applications completed recently. Out of this, 10 startups have been selected that are expected to achieve rapid scaling through global expansion.

Financial and Tailored Support

Each selected startup will receive up to 200 million yen in financial assistance along with bespoke support aimed at enhancing their global growth prospects. This maximum period for the growth initiatives is up to 18 months, during which the program aims to help up to 10 initiatives.

Types of Support Offered

1. Financial Support: Each initiative is eligible for up to 200 million yen in funding.
2. Customized Support: Tailored support designed to meet the specific needs of each startup.
- This may include strategic guidance in key areas such as information and networks, fundraising, business strategy, and organizational development.
- Pilot programs for overseas travel will be organized and provided to aid in expansion efforts.
- A broad spectrum of resources will be accessible in collaboration with various stakeholders.
3. Additional Focus Areas: The program will also offer support bolstered by insights and a global network in the domains of AI-related technologies including mobility, healthcare, energy, and next-generation computing.

Selected Startups

The details of the ten selected startups have been published separately and highlight the range of innovative efforts coming out of Tokyo in this global endeavor.

Conclusion

The 'SusHi Tech Global' program not only represents a significant push for Tokyo in nurturing startups but also aligns with the broader '2050 Tokyo Strategy', aimed at fostering globally competitive startups. By providing the necessary funding and tailored support, Tokyo is setting the stage for its emerging businesses to thrive on a global scale.

For further details regarding this initiative, visit the SusHi Tech Global dedicated website.