Japan’s New Energy and Industrial Technology Development Organization (NEDO) has added seven more companies to their technology-based Startup Support Program. One of the companies to receive the “Certification of Venture Capital Firms to Partner in NEDO technology-based Startup Support Program” is 500 Startups Japan.
500 Startups Japan, the Japanese branch of the Silicon Valley-based venture capital firm 500 Startups, aims to bring Silicon Valley’s best practices and venture capital seed fund to the local ecosystem. The company also acts as a startup accelerator, mentoring startups and sharing information gained through their global network. 500 startups is currently present in over 20 countries and investing in companies from more than 50 different countries.
According to 500 Startups Japan’s Head, James Riney, the fund could collectively invest around US$1 million per startup, including future follow-on rounds. NEDO requires venture capital firms to have the capability to make investments in STSs (Technology-based startups and venture businesses in the seed stage) with the intention to maintain hands-on involvement with STSs after investment, and to set up an operating base/branch in Japan if they want to be certified. As 500 Startups Japan meets all these requirements, it officially joined the ranks of certified companies as of April 2016, along with six other companies. Congratulations!