ITOCHU Announces Launch of KAKUSEI, an Acceleration Program by ITV
October 12, 2020
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that ITOCHU Technology Ventures, Inc (headquartered in Minato-ku, Tokyo; Shinzo Nakano, President & CEO; hereinafter “ITV”), ITOCHU’s subsidiary engaged in the venture capital business, is planning the launch of KAKUSEI, an acceleration program that aims to create globally competitive startups. Today it starts accepting applications mainly from entrepreneurs, who have business experience.
Many Japanese companies were at the top of the world’s market capitalization ranking in the past. However, startups FAMGA of the U.S. and BAT of China, are emerging, and aim to quickly dominate the global market with a huge amount of fundraising. Although the funding of domestic startups increases yearly, the number of companies that set their target at the world remains low. In addition, human resources with extensive business experience work for large companies and the flow of talent into startups is insufficient.
ITV is launching KAKUSEI, an acceleration program that aims to create globally competitive startups that shift the startup environment in Japan. KAKUSEI is for people who want to take on challenges that entail the transformation of the industrial structure, even someone who presently works for a company can apply. In addition, the Program features four to five months of mentoring from ITV’s capitalists, the sharing of expertise and business development knowhow in relation to face-to-face industry through contacts in the ITOCHU Group, support for those who lack experience in starting a business/fundraising and engineering. Moreover, we will provide entrepreneurs with an opportunity to present to multiple venture capitalists that understand the initiatives of the Program, and aid entrepreneurs who aim to raise funds globally.
ITV established its unique position in the industry through its continued independent venture capital business operation, not bound within the ITOCHU Group’s framework, while boasting strengths that support the business expansion of startups, which use the ITOCHU Group’s business areas and global network since its founding in 2000. Through the Program, we are determined to expand these initiatives and provide new values domestically and globally.
Implementation schedule of the Program
|October 12||Start taking applications|
|November 4||Deadline for applications|
|Early November||Launch of the Program|
|Early April||Implementation of presentation for investors|
Details of the Program
Please refer to the link below for the details and application method of the program.