#Japan #Tokyo #Small Business #Mitsubishi UFJ #technology grant

Mitsubishi UFJ Technology Development Foundation Supports Small Enterprises

The Mitsubishi UFJ Technology Development Foundation, based in Minato, Tokyo, has recently announced the awarding of grants for the second round of its research and development funding program for the fiscal year 2025. Five projects have been selected from a pool of 64 applicants, with a maximum grant amount of 3 million yen for each approved project. This initiative aims to encourage the growth of small and medium-sized enterprises (SMEs) by facilitating the research and development of new technologies and products.

Details of the Grant Program

The foundation’s grant program is specifically designed to support new and innovative projects that demonstrate potential for business commercialization within a two-year timeline. Applicants eligible for this program generally include small businesses or individual entrepreneurs operating for less than five years. Notably, subsidiaries of larger corporations or publicly traded companies are excluded from this funding.

Eligibility Criteria

To qualify for this grant, applicants must have concrete plans for developing and commercializing their innovative technologies or products. This includes being able to demonstrate the uniqueness of their proposed project in current technological contexts. Research projects with potential for market entry within two years are prioritized for funding.

Grant Amount and Application Process

Each selected project can receive funding up to 3 million yen, covering a maximum of 50% of the total research and development costs. Applicants are encouraged to submit their project proposals during the publicly announced application periods:

• - First Round: April 20 to May 20
• - Second Round: September 20 to October 20

The selection process involves a thorough evaluation by a committee of experts, ensuring a fair and transparent allocation of grants. Past recipients highlight the potential impact of this funding on advancing technology-driven initiatives, showcasing the vital role these grants play in bolstering innovation in Japan's SME sector.

History of the Mitsubishi UFJ Technology Development Foundation

Established in December 1983 as part of the 50th anniversary celebrations of the former Sanwa Bank, the foundation serves as a significant arm of Mitsubishi UFJ Bank. Since its inception, it has been integral in providing research and development grants, having surpassed a staggering cumulative funding amount of 1 billion yen by 2018. The foundation continues to support startups and their innovative pursuits towards creating new technologies and products.

Additional Support and Services

Aside from grant allocations, the foundation also offers various forms of support including:
1. Debt Guarantees for loans aimed at the research and development of new technologies and products
2. Equity Investments to further aid in the development of new products and technologies
3. Workshops and Seminars focused on industry knowledge sharing
4. Business Consulting Services to assist SMEs in navigating challenges within the technology landscape

For more information on application details and past funding recipients, visit their official website: Mitsubishi UFJ Technology Development Foundation.

Conclusion

As Japan seeks to enhance its technological capabilities through innovation, the Mitsubishi UFJ Technology Development Foundation remains a cornerstone in facilitating the growth of small businesses determined to make a significant impact in their respective fields. By supporting research and development through this grant initiative, the foundation fosters an environment conducive to creativity and progress among aspiring entrepreneurs and established small enterprises alike.