#Japan #Tokyo #Plug and Play #SusHi Tech #Unicorn Startup

Tokyo's New Initiative for Global Startups

In a groundbreaking move, Tokyo has launched the 'SusHi Tech Global Growth Acceleration Program' to enhance its presence in the global startup ecosystem. The initiative is part of the larger vision, "Sustainable High City Tech Tokyo (SusHi Tech Tokyo)", which aims to multiply the number of unicorn startups in the city tenfold over the next five years. With a clear objective of producing highly innovative companies, the program seeks to help startups scale globally while significantly contributing to the sustainable urban environment.

Program Overview

The SusHi Tech Global program is designed for promising startups in their growth phases. Here are the key components:

1. Financial Support of Up to 200 Million Yen: The program will support up to 10 selected startups with individual assistance tailored to their specific needs. Each startup can receive a maximum funding of 200 million yen, earmarked for projects aimed at global scalability.

2. 18-Month Personalized Assistance: The program will not only offer financial backing but also personalized support for 18 months, focusing on international expansion. Led by Plug and Play, startups will receive custom-tailored assistance, including collaboration with overseas companies and funding opportunities from international venture capitalists.

3. Leveraging Expertise: Plug and Play will utilize its specialized knowledge in four key areas: mobility, healthcare, energy, and next-generation computing. While these areas are highlighted, the program is open to a broader range of sectors, enhancing opportunities for diverse startups.

Plug and Play’s Role

As the operational partner for this initiative, Plug and Play brings robust experience in supporting thousands of startups globally. In 2024, it plans to accelerate over 2,200 startups, enhancing Tokyo's reputation as a nurturing ground for innovation.

The organization has a strong track record of collaborations, aiding startups in their overseas ventures through various government-backed programs like JETRO's 'J-StarX Local to Global Success Program 2024'. This history showcases successful instances of securing funding and establishing international branches.

Global Network and Collaborations

With an extensive network across 60 locations and over 550 corporate partners worldwide, the program will harness these connections to bolster selected startups. This includes access to information, networking, and investor partnerships that can open doors to new markets.

By collaborating with industry leaders, the program will ensure startups receive comprehensive support for their global growth. Planned partnerships include:

• - SBI Holdings USA, Inc.: They will facilitate connections with global VCs and local companies, particularly through their accelerator program in Seattle.
• - Benhamou Global Ventures (BGV): They will participate in startup evaluations and consider investments from a global VC perspective.
• - Force Startups Inc.: This organization will focus on human resource support, optimizing the recruitment of executive-level talent for startups.

Future Prospects

Plug and Play Japan is committed to fostering a sustainable society by guiding Tokyo startups to the pinnacle of global innovation. The pressing need for sustainability is matched by Tokyo's ambition to raise the bar in the startup landscape, propelling local talents to international recognition.

For more information about the program, you can visit their website at SusHi Tech Global.

Conclusion

The SusHi Tech Global Growth Acceleration Program represents a significant step towards Tokyo's vision of becoming a leader in the startup world. With combined efforts from various stakeholders and a focus on innovative solutions, the program aims not only to enhance the startup scene in Tokyo but also contribute to a sustainable future.