KYOTO, Japan, June 13, 2019 /PRNewswire/ -- Plug and Play Japan KK (Head office: Shibuya-ku, Tokyo; President: Philip Vincent, hereinafter "Plug and Play Japan") is pleased to announce the opening of its second base in Kyoto City, Kyoto, Japan on July 22, 2019.
Plug and Play is a world-class global venture capital/accelerator that partners with leading companies to support startups with innovative technologies and ideas. It carries out over 50 acceleration programs* annually, providing more than 300 companies with solutions to drive innovations. In addition, we have accelerated 2,000+ startups since inception in 2006.
* Acceleration program is a program conducted as part of open innovation for a limited period of time, aiming to promote leading companies to collaborate with and invest on startups.
Plug and Play's Japanese subsidiary established in July 2017 has implemented three programs so far, and has selected and accelerated a total of 133 domestic and international startups in the programs, partnering with corporate partners who are major domestic companies. There are 30 corporate partners as of June 7, 2019.
On this occasion, Plug and Play Japan is pleased to announce the opening of its second base in Kyoto with the following founding partners: SHIMADZU CORPORATION, KYOCERA Corp., Mitsubishi UFJ Financial Group and DENTSU INC.
Kyoto has a long history of accumulating industrial, cultural and academic assets, and developing many traditional industries, while the city is full of enterprising spirit in which global manufacturers based on advanced processing technologies as well as industries offering high value-added electronic components have developed.
Continuing to innovate while responding to changes of the times has helped to create companies with their history unparalleled in the world, making the city an attractive place for manufacturing with the highest concentration of traditional industries in Japan. In addition, Kyoto City has many leading universities in the country, and both of Kyoto Prefecture and Kyoto City have steadily worked on supporting startups, so it is a great attraction that Kyoto meets the conditions to bring out the full potential of talented entrepreneurs and good startups.
Plug and Play Kyoto will carry out its first acceleration program featuring hard tech/healthcare based on manufacturing and life sciences, which is the strength of Kyoto, at Open Innovation Café "KOIN" in Kyoto Economic Center (established in March 2019) where supporting organizations including Kyoto Prefecture, Kyoto City, and four business associations have their offices, engawa KYOTO scheduled to be established at Shijo Karasuma, and Kyoto Research Park, which has a track record of supporting businesses. The office of Plug and Play Kyoto will be located at engawa KYOTO.
This program will be provided with support from Kyoto Prefecture, Kyoto City, Kyoto Chiesangyo Sozonomori, and Kyoto Research Park, as the City has long been the capital of startups where industries, governments and academia collaborate to support industries.
Plug and Play's mission is to make Kyoto one of the world's leading startup ecosystems. About half of startups selected for the Plug and Play program come from overseas. Leveraging our network spanning 30 locations in 14 countries around the world (as of June 7, 2019), we will hold our acceleration program in Kyoto where companies with their history unparalleled in the world started their businesses. Promoting co-creation between various domestic/international startups and large corporations through the program, we aim to create a globally open startup ecosystem in order to create businesses that will lead the next era.
Application for the first acceleration program will start from July 24, 2019 through September 24, 2019. In addition, we are seeking corporate partners following SHIMADZU CORPORATION, KYOCERA Corp., Mitsubishi UFJ Financial Group and DENTSU INC.
■ Comments of Founding Partners
Mr. Mitsuo Kitaoka, Managing Executive Officer and Director of Technology Research Laboratory, SHIMADZU CORPORATION
Under the corporate philosophy of "contributing to society through science and technology," we have offered products and technologies to a variety of customers. In recent years, we have focused on the "advanced healthcare" business to apply analytical technologies we have developed to the medical field, early detection of disease in particular, and we believe technologies and services that are responsive to people will play a key role in this field. We have great expectations for open innovations at Plug and Play Kyoto, which will be launched to drive and accelerate new businesses.
Mr. Masahiro Inagaki, Senior Executive Officer and General Manager of Corporate R & D Group, KYOCERA Corporation
Congratulations on opening the Plug and Play base in Kyoto. Kyoto has many long-established stores that run businesses for a long time, as people in Kyoto say "stores become full-fledged after celebrating their 100th anniversary in business." On the other hand, the spirit of fostering young entrepreneurs has also been handed down traditionally. KYOCERA was funded by other companies and rent its office in their premises to start the business. Some of its supporters mortgaged their houses to raise funds for the 27-year-old Inamori, which could be described in modern terms as "angel." Omi merchants had a philosophy of "sampo yoshi," meaning three-way satisfaction, and I hope we can contribute to the support of passionate entrepreneurs, the creation of innovative new industries, and the prosperity of the entire ecosystem, not only in our own growth, but also in the spirit of altruism.
Mr. Naoki Hori, Senior Managing Corporate Executive, Mitsubishi UFJ Financial Group, Inc.
I would like to extend my sincere congratulations on the opening of Plug and Play Kyoto site. We expect the Plug and Play Kyoto to act as a gateway where many promising startups come and go between Kyoto and the world. MUFG launched a new organization called the Growth Industry Support Office last May to support people doing their business in areas with high growth potential. We aim to grow together with startups and companies involved in open innovation, and will contribute as a comprehensive financial group to development of the startup ecosystem to be nurtured in Kyoto.
Mr. Takashi Yagi, Executive Officer and General Manager of Kansai Branch, DENTSU INC.
We are honored to participate in launching Plug and Play's second base in Japan as a founding partner. I believe originality is indeed the source of competitive edge, considering various waves of globalization and application of AI surging across the country. Kansai is home to many companies representing Japan, filled with ideas and inspirations originated from Japan. Taking advantage of the potential of the Kansai area with its underlying entrepreneurial spirit, we will collaborate with Plug and Play, participating startups and member companies so that young businesses can spread their wings and explore the world.
■ Supporters' comments
Mr. Takatoshi Nishiwaki, Governor of Kyoto Prefecture
I sincerely congratulate you on the launch of Plug and Play Kyoto. Kyoto Prefecture works with our Economic Center which plays a core role in this project and other related organizations to provide you with comprehensive All-Kyoto support. Let's aim to make Kyoto the capital of startups where talented people and companies gather from all over the world.
Mr. Daisaku Kadokawa, Mayor of Kyoto City
It is our great pleasure to welcome the new Plug and Play base here in Kyoto in the anniversary of the completion of Kyoto Economic Center that represents Kyoto's far-sighted economic policy. Let's do our best to help many startups fly to the world through the open innovation platform you have driven with local companies and universities in Kyoto.
Mr. Yoshio Tateishi, President of Kyoto Chiesangyo Sozonomori
Our Open Innovation Café called "KOIN" offers a place to create new value through interactions and fusion. Kyoto Chiesangyo Sozonomori, an operator of the Café, agrees with and provide support to Plug and Play's ecosystem.
Mr. Nobuya Ogawa, President of Kyoto Research Park Corp.
I am very happy to know that Plug and Play Kyoto will hold its first acceleration program in Kyoto, as we have discussed it together. The KRP district, which will mark the 30th anniversary this year, contributes to the creation of new businesses in Kyoto by providing excellent networking opportunities for people seeking innovation from all over the world.
■ Plug and Play Kyoto Overview
Date of establishment: July 22nd, 2019
Address: 2nd floor on engawa KYOTO, 647 Nijohanjiki-cho, Shimogyo-ku, Kyoto City, Kyoto 600-8412, Japan
■ About engawa KYOTO
Name: engawa KYOTO
Date of establishment: July 22nd, 2019
Address: 647 Nijohanjiki-cho, Shimogyo-ku, Kyoto City, Kyoto 600-8412, Japan
Business description: provides co-creation platforms including co-working spaces, shared offices and various programs for business support
■ About Kyoto Research Park
Date of Foundation: October 1st, 1989
Address: 134 Chudoji Minamimachi, Shimogyo-ku, Kyoto City, Kyoto 600-8813, Japan
About Plug and Play Japan Acceleration Program
The acceleration program "Batch 2" carried out from November 2018 to March 2019 in Tokyo supported 59 domestic/international startups together with 22 major domestic companies serving as official partners in four verticals of the program, namely IoT, Fintech, Insurtech and Mobility. 53 startups shared their achievements made in three months with 1,533 people participated in the 2-day EXPO (generally called Demo Day). Currently, Summer/Fall 2019 Batch program focused on five verticals, i.e. IoT, Fintech, Insurtech, Mobility and Brand & Retail is underway for about three months, starting from June 3, 2019 through September, 2019 in Tokyo.
About Plug and Play
Plug and Play supported more than 560 startups in its US Headquarters and 1,100+ startups around the world with 222 investments made through its acceleration programs in 2018. It currently has 750 active portfolio companies including Guardant Health, Honey, Soundhound, Zoosk and more.
Successful portfolio exits include Dropbox ($11 billion valuation at IPO), PayPal (acquired by Ebay), Vudu (acquired by Walmart), Danger and Powerset (acquired by Microsoft), Lending Club ($9 billion valuation at IPO), and the most recently Guardant Health ($1.6 billion valuation at IPO).
Name: Plug and Play Japan KK
Address: Shibuya Dogenzaka Tokyu building 1F, 1-8-10 Dogenzaka, Shibuya-ku, Tokyo 150-0043, Japan
President: Phillip Vincent
Date of Establishment: July 14th, 2017
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TEL : 080-1326-9802 / Mail : email@example.com
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