Having established and operated a successful accelerator in Taiwan for five years, CDIB Capital Group’s (中華開發資本) Capital Innovation Accelerator is planning to set up a presence in Japan by the end of this year to assist Taiwanese start-ups, it said in a news release on Tuesday.
As a first step in building a regional venture ecosystem for the group, the CDIB Innovation Tokyo Hub aims to help young Taiwanese enterprises access the Japanese market, in line with the policies of the National Development Council (NDC), it said.
The NDC is later this month to lead a consortium of Taiwanese enterprises to attend the “Together, Go Big” conference in Tokyo and introduce some of Taiwan’s most promising start-ups to the Japanese market.
Photo courtesy of China Development Financial Holding Corp
The CDIB Capital Innovation Accelerator has been invited to attend the event, the news release said.
Capital Innovation Accelerator president Ryan Kuo (郭大經) said that many start-ups in Taiwan have laid solid foundations and honed their ability to respond to rapidly changing market demands.
This was especially true after meeting the challenges posed by the COVID-19 pandemic over the past two years, he said.
The accelerator has been successfully operating in Taipei’s Nangang Software Park (南港軟體園區) for five years, organizing many in-person and online events, and providing a wide range of services to start-ups, such as mentorship and professional courses, the news release said.
This paves the way for the accelerator to become the premier platform for value-added investments in new ventures, it said.
In terms of scaling up operations and expand overseas, the Capital Innovation Accelerator’s portfolio companies are looking to tap into Japan because of its large potential, it said.
Taiwan’s proximity to Japan and the diversity of new ventures are also among the reasons that local start-ups are positive about the Japanese market, it added.
The accelerator’s new office project in Japan has received significant interest from its portfolio companies, which are planning to use CDIB’s infrastructure as a launch pad into Japan.
The portfolio companies can get off the ground in Japan smoothly and overcome the challenges associated with expanding into new markets, ranging from finance and legal challenges to recruitment, business development, setting up an office and attending Taiwan-Japan industry gatherings with initial focus on digital transformation, the news release said.
To create an ecosystem, the accelerator fund also considers investing in Japanese start-ups that are strategically aligned with Taiwan’s start-up scene, it said.
This leads to more alliances between Taiwanese and Japanese start-ups, as well as upstream and downstream industries, it said.
With the assistance of Line Corp in Japan as a strategic local partner, the accelerator is prepared to collaborate with companies in sectors such as tourism, artificial intelligence and financial technology, it said.
New ventures would have access to the accelerator’s resources to help build their businesses, and engage in creative dialogue that develops a comprehensive and leading international start-up ecosystem, it added.
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