HAX Partners with Sumitomo Corporation & SCSK to Open Hardware Pre-Accelerator in Tokyo
New Program Will Target Digitization of Traditional Industries
SOSV’s hardware accelerator HAX, along with the global trading company Sumitomo Corporation and global IT services company SCSK, are launching a new hardware pre-accelerator program for startups in Tokyo, Japan.
The three-month program, headquartered at Mirai Lab Palette, will begin in November 2019, with 3–4 participating startups.
The purpose of HAX Tokyo is to build an ecosystem for startups in Japan. “Japan demonstrates great industrial technology and rapid digitization, in addition to being the world’s third largest economy,” said Miki Watanabe, the HAX General Manager of the program. “Although the country is a world leader in technology, there’s a lack of hardware startups, especially given the high level of technical talents in Japan.”
Japan’s new startup environment includes a growing VC industry with more focus on early-stage startups. While VC funds and investor interests have risen, there has been difficulty due to the lack of startups.
The HAX Tokyo program will focus on mentorship, concept design, basic prototyping, team building, and business development. It sees potential in industrial, automotive, healthcare, aging, agricultural, and service robotics startups. HAX, Sumitomo Corporation, and SCSK are looking for innovative founders who will address the shift from industrial to digital in the global economy.
After participating in the program, startups will gain the opportunity to be selected for Phase 1 of HAX in Shenzhen, which consists of a $250K investment and a focus on technology, engineering, and design, in addition to potentially gaining follow-on funding from SOSV. Those who move on to Phase 2 of HAX in San Francisco will focus on sales, traction, and fundraising. SOSV’s global community currently includes over 800 startups from over 90 countries.
Startups can fill out an application to HAX Tokyo here.