Scrum Studio, Leading Japanese Corporations Launch Well-BeingX to Shape the Future of Wellness
Mar 08, 2022, 06:00 ET
SAN FRANCISCO, March 8, 2022 /PRNewswire/ -- Scrum Studio Inc. today announced the launch of Well-BeingX, a new open innovation program dedicated to helping scale and grow startups developing products and solutions that enhance wellness.
Officially open to applicants today, Well-BeingX seeks startups across industries with a shared mission to improve well-being – an area rapidly growing as consumers seek more personalized tools and technologies to improve their health while broadening their needs to include fitness and nutrition, as well as mental, environmental, and social wellness. According to McKinsey & Company, the overall wellness market is estimated at $1.5 trillion, with an expected growth rate of five to 10 percent each year.
"Consumer behavior and spending habits are rapidly changing how society views wellness, opening doors to diverse solutions that can have a profound impact on an individual's overall happiness and quality of life both at home and at work," said Michael Proman, Managing Director Scrum Ventures. "Leveraging Scrum Ventures' experience in vetting startups alongside leading experts in the wellness industry and influential corporations across Japan, the Well-BeingX program will provide entrepreneurs an unparalleled foundation and network to strengthen their businesses."
Applicants to the program will be selected based on criteria set by Scrum Studio and four Japanese partner corporations including Sumitomo Life Insurance Company, Tokyo Tatemono Co., Japan Tobacco Inc., and Hakuhodo Inc. (supporting partner). Categories considered include Personal Care & Wellness Nutrition & Health Care, Aging & Care, Insurance & Health Management, and Mind & Body.
Kobe City and Tokyo Shibuya-ward, two cities in Japan known for innovations in tech and growing start-up culture, and Osaka Chamber of Commerce, an economic organization based in Osaka, will also participate in the program, leveraging their deep networks with local stakeholders to provide insights and locations for product demonstrations.
The program will also offer support from Tokyo's Cambridge Innovation Center (CIC), a global leader in building and operating innovation campuses that support the growth of entrepreneurs and startups.
After undergoing a competitive selection process, chosen startups will have the opportunity to co-develop their business with Japanese companies while working closely with mentors in the field. Scrum Ventures may also provide seed funding to companies that best align with the wellness mission. At the end of the program year, companies may also present their solutions to investors and corporations during a formal demo day.
The WellBeingX application period opens today and ends May 31, 2022. Startups will be chosen by early July 2022 at which time the official program kicks off, including access to industry executives and business development opportunities. The program runs from July 2022 through the end of the calendar year.
To apply, please visit: Scrum Studio Well-BeingX Applications
About Scrum Studio, Inc.
Scrum Studio, Inc. is an open innovation platform established by Scrum Ventures, 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 SPORTS TECH TOKYO, SmartCityX, and Food Tech Studio - Bites!
SOURCE Scrum Ventures
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