A Collaboration between “E.A.S.T” initiative by ProtoStar and 31VENTURES
Promotion and Support of Startups that have the possibility to work with Major Corporations in the Eastern Tokyo Area
September 19, 2018
Mitsui Fudosan Co., Ltd.
ProtoStar Co., Ltd.
Tokyo,September 19th, 2018 - Mitsui Fudosan Co., Ltd. is now collaborating with the "E.A.S.T." initiative by Protostar Co., Ltd., operator of "StarBurst,” the largest venture community in Japan.
The “E.A.S.T” initiative, which was started by ProtoStar, aims to enlarge startups ecosystem in Nihonbashi and encourage open-innovation of corporates in “East side” of Tokyo, by attracting and supporting ambitious startups.
“E.A.S.T,” stands for “Empowering Ambitious Startups in Tokyo,”. This concept is to encourage startups in Eastern Tokyo.
31VENTURES, Mitsui Fudosan’s cvc arm, has decided to support this initiative, and started collaboration with ProtoStar.
31VENTURES Clip Nihonbashi, co-working space operated by 31VENTURES, had been a base of corporate development and startup experimentation. From now, corporate development function moves to “BaseQ”, which recently opened in Tokyo’s Midtown Hibiya, and Clip Nihonbashi will focus on the integration and support of startups in various verticals.
Clip Nihonbashi is now become a core base of startups ecosystem of Protpstar. Furthermore, by making full use of the network and know-how of both Mitsui Fudosan and Protostar, an aim has been taken to make this area a major global base for startups ecosystem.
ProtoStar CCO Yusuke Kurishima, Right: Mitsui Fudosan Co., Ltd. Venture Joint Development Business Division Chief Akira Sugawara.
Nihonbashi as a mecca for Startups
Since 2010, in Chuo-ku, 70+ startups has raised more than JPY50million, and Venture Capitals have their offices here. Also, Chuo-ku has been headquarter of Japanese corporate establishment, now collaboration between startup ecosystem and corporates is fermented gradually. The “E.A.S.T” initiative will drive this trend further, and generate new ecosystem against Shibuya, Roppongi and Gotanda where have IT startup ecosystem in Western Tokyo. The “E.A.S.T” will encourage talented people who experienced major corporates within the area, to start his or her startups to reshape the structure of industry once they belong to.
The Endeavors of 31VENTURES and ProtoStar
Prior to this announcement, ProtoStar relocated their base of operations to Clip Nihonbashi in February, 2018 and has been supporting startups together with 31VENTURES. Up until now, more than 2,800 people have attended our events since relocation. Many startups belonging to “StartBurst” such as SPACER Co., Ltd., Glafit, and Eduzukan. SPACER Co., Ltd. develops sharing services for new parcels that manage lockers by smartphone. Glafit, a hybrid bike company and manufacturer, has achieved the first procurement amount of 1.718 million yen (as of 2017/7/20) within the history of cloud funding in Japan. Eduzukan manages a site aimed at parents and children to help customers find an “education that really fits.” over 30 companies have moved their base to Clip Nihonbashi.
Statement from Akira Sugawara, General Manager Venture Co-creation Department Mitsui Fudosan.
“ProStar is showing great achievement in the startup ecosystem and is playing an important role in reshaping the Nihonbashi area where major corporates are located. Combining knowledge and network of 31VENTURES, we will drive creation of environment for startups to grow, including workplace living environments into.”
Statement from , Yusuke Kurishima, CCO ProtpStar
” Unlike other industry, startups we support need 5 to 10 years to achieve their goal. To create real startups ecosystem, development of city function such as workspace and nearby residential property is essential, Mitsui Fudosan is the company with long term vision of city development and applied this mindset to support startup ecosystem. We are exiting to work with them in Nihonbashi.”
Mitsui Fudosan’s Venture Joint Development Buisiness Division
In order to create new industries to strengthen and expand the business domain, Mitsui Fudosan established the Venture Co-creation Department ”31VENTUREES” in 2015. 31VENTURES provide fully integrated venture capital service “Finance”, “Support” and “Community”. 31VENTURES is managing JPY 5 Billion cvc fund (“31Ventures Global Innovation Fund”) and JPY 30 billion growth investment project.
“31Ventures Clip Nihonbashi” had an expansion in 2017. AxelSpace, a company which develops microminiature artificial satellites, is now moving their offices to the second and third floor of the building. In addition, “LINK-J” an industrial organization for life science has established, to strengthen the creation of new business in Nihonbashi, where many pharmaceutical companies have their headquarter.. Also there has been a collaboration with various startups, including IoT PoC with Sense Way Co., Ltd., which provides IoT platform using LoRaWAN.