#Japan #Tokyo #pharmaceuticals #Startup Creation

Tokyo's New Initiative: Blockbuster Creation

Tokyo is taking significant steps in nurturing innovative startups under its strategic framework, "Global Innovation with STARTUPS." This initiative emphasizes the concept of being "Born Global," focusing on the development of startups that can thrive on a global scale. One of the key projects launched is the "Blockbuster Creation," which aims to establish a model for startup development specifically in the pharmaceutical sector.

Overview of Blockbuster Creation

This initiative will focus on building a Japan-based model for company creation in the pharmaceutical industry. The project invites venture capitalists (VCs) and industry experts to identify promising research seeds that can be commercialized. The aim is to generate a model that not only assists in startup formation but also enhances the ecosystem surrounding pharmaceutical innovation.

Once proposals are submitted, external experts will evaluate them, and selected projects will proceed to create organizational structures that include specialized management personnel. This structured approach is essential to transforming ideas into viable pharmaceutical startups.

To ensure the effectiveness of this initiative, an advisory board consisting of experts with extensive knowledge in the pharmaceutical sector will be established. This board will play a crucial role in supporting selected projects in terms of commercialization and securing specialized human resources necessary for driving innovation.

Advisory Board Members

The advisory board will comprise the following individuals (order by phonetic alphabet):

• - Hiroshi Atsumi, Director at iCONM in collaboration with BioLabs.
• - Yumiko Kusakabe, CEO of IMPACT ACCESS and Chief Strategy Officer at Platinum Bio Co., Ltd., also a Special Professor at Tohoku University.
• - Tetsuya Kurihara, representative of LS Ventures LLC.
• - Tomoyuki Koyanagi, Director of Business Development at Kyoto University Hospital's Advanced Medical Research Institute (iACT).
• - Nobuaki Shindo, Head of Innovation Promotion at Keio University.
• - Chika Hashimoto, Managing Partner at Garasas LLC.
• - Haruka Hashimoto, CEO of Convallaria Co., Ltd.

This expert board will continuously provide hands-on support, leveraging their networks and expertise in the pharmaceutical ecosystem to help nurture selected startups.

Project Formation Schedule

The timeline for forming the projects is outlined as follows:
1. Project Application: Expected in early November 2023.
2. Project Evaluation and Selection: From mid-December 2023 through late February 2024.
3. Announcement of Selected Projects: Expected between late February and early March 2024.

The project is set to run until the end of the fiscal year 2025. Evaluation and selection will be carried out by an external committee of experts.

Further details regarding the application process and necessary forms will be made available on a dedicated site in early November 2023. More information can be found here: Tokyo Life Science Special Site.

Kickoff Event

To officially launch the Blockbuster Creation initiative, a kickoff event will be held featuring keynote speeches and panel discussions focused on company creation in the pharmaceutical field.

• - Event Name: Blockbuster Creation Kickoff Event
• - Date: November 14, 2023, from 14:00 to 15:30
• - Location: Tokyo Innovation Base (TIB), 2nd Floor Room, 3-8-3 Marunouchi, Chiyoda, Tokyo.

Agenda

1. Keynote Speech: Insights from experts on pharmaceuticals and company creation.
2. Panel Discussion: Featuring startups and specialists discussing key challenges and strategies.
3. Project Overview: Presenting the details of the initiative and what it aims to achieve.

For complete event details and to register, please refer to the dedicated website: Tokyo Life Science Special Site.

This initiative is part of the broader "2050 Tokyo Strategy," aiming to cultivate startups that can excel on a global stage, ultimately fostering a thriving innovation ecosystem in Tokyo.