Scrum Studio Launches Second Year of its Open Innovation Program 'Well-BeingX' to Support Well-Being Startups from Around the World
07 Apr, 2023, 08:00 ET
Program Now Open to Applications for Startups in this Year's Focus Areas: Women's Health; Nutrition and Food; Senior Care and Inclusive Tech
SAN FRANCISCO, April 7, 2023 /PRNewswire/ -- Scrum Studio Inc., together with Japanese corporations across several industries, has launched the second year of Well-BeingX, a global open innovation program that aims to help create and grow new business opportunities with startups developing products and solutions that enhance well-being.
Today, the program will start accepting applications from startups to participate in the second year of the program. Well-BeingX will be recruiting startups in categories related to health and wellness with a particular focus on Women's Health, Nutrition and FoodTech, and Senior Care and Inclusive Tech.
Building on the program's success last year when 37 wellness startups were selected from over 10 countries, Well-BeingX is welcoming two new local governments, Fukui Prefecture and Kashima City, to its second-year program.
Well-BeingX 2023 Participants Include:
- Partner Companies: Sumitomo Life Insurance Company, Tokyo Tatemono, Japan Tobacco, Hakuhodo, Lion Corporation
- Municipalities: Kobe City, Shibuya Ward, Osaka Chamber of Commerce and Industry, Chuo Ward, Fukui Prefecture, Kashima City
- Resource Partners: CIC Japan LLC
"According to McKinsey & Co, the market for wellness products and services is $1.5 trillion with expected annual growth of 5 to 10 percent, as today's global consumers are continuing to realize the importance of health and well-being" said Michael Proman, managing director and partner, Scrum Ventures. "This is why we are more excited than ever to kick off year two of Well-BeingX. Last year's program was a success as we hosted hundreds of introductions of well-being startup founders to mentors and major Japanese corporations, resulting in co-development initiatives that address the most critical challenges in well-being, including fertility, stress reduction, lifesaving services for office workers and childcare."
The application period opens today and ends June 14, 2023. Startups will be chosen by June when the official program kicks off, including access to industry executives and business development opportunities. The program runs from June to December. Interested startups are invited to apply here: https://airtable.com/shrsJQkza2RqEYJa8
The selected startups will have opportunities to co-create businesses with participating corporations and government organizations. Participants in the program will also be considered for investment by Scrum Ventures, the San Francisco-based VC firm that is associated with Scrum Studio.
About Scrum Studio, Inc.
Scrum Studio, Inc. is an open innovation platform formed to bridge the gap between iconic Japanese corporations with startups from around the world. The platform focuses on three pillars to create new business opportunities: acceleration, incubation, and connection. Its vertical studio programs include SmartCityX, Food Tech Studio - Bites!, and Well-BeingX.
About Scrum Ventures
Scrum Ventures is an early-stage venture firm based in San Francisco with a growing Tokyo office. With entrepreneurial expertise and a strong network in Japan, the firm actively supports portfolio companies' global growth and success.
SOURCE Scrum Ventures
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