NEDO (New Energy and Industrial Technology Development) of Japan has selected the newly formed SARR-Tech Ranch® joint venture as one of twelve certified “VC’s” to help commercialize and globalize Japanese technology startups. The highly competitive program assessed over 40 global applicants and the joint venture (with a physical location in Kyoto) was selected to receive support, which will in turn focus on the development of entrepreneurs and the building of bridges between the two countries. NEDO will commit $50M over the next 2 years to the VC’s chosen for the initiative.
An initial batch of 15 companies will be selected by September 2015. The company funding submissions will come from all chosen “VC’s” and will be narrowed down by NEDO and its advisors. The goal is to fund a new batch of investor-ready startups every six months.
The SARR Tech Ranch® Accelerator is being funded by tier 1 Japanese corporations and financial institutions which will allow for the joint venture to make significant match-eligible investments. Acting as General Partners are Ikkei Matsuda from SARR and Sandeep Kumar from Tech Ranch®, who have worked closely together, both in Japan and Austin, TX, to make the partnership work. According to Sandeep, “Involvement in this initiative gives us a chance to help showcase the technology and innovation platforms in Japan. NEDO has created a program that not only brings awareness to the high skill level of Japanese entrepreneurs, but gives them a global stage on which to shine.”
Both organizations are honored to be selected and are excited to help Japanese startups become globally successful.