Tokyo FinTech
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Tokyo FinTech

PayPay launches accelerator for mini apps

PayPay, the leading Japanese payments platform with more than 33m registered users, have announced a three-month Accelerator Program specifically focused on developers for their mini app platform, in collaboration with YJ Capital & East Ventures.

Applications are open until December 4, and while the application form at this point appears to be available in Japanese only, the program is open to teams from abroad, as it will be held virtually. The only condition is that by the time the Demo Day is held in April, a corporate entity has been incorporated in Japan (the same applies to individual participants). Selected companies will be informed on December 25, and the program runs during the first quarter of 2021. The program benefits and support structure are outlined in the graphic below.

The program targets early stage start-ups that ideally already have a product, even if it is a prototype or beta version. Funding to date should not exceed JPY 200m (~USD 2m), and the startup needs to demonstrate working capital for six months or more. In principle, any type of service is a candidate for the accelerator as long as it is somewhat related to payments.

Participation in the program is free and not tied into any equity give-up. Conversely, YJ Capital and East Ventures might individually invest in any of the companies at the end of the program, however, such an investment is not guaranteed.

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Norbert Gehrke

Passionate about strategy & innovation across Asia. At home in Japan. Connector of people & ideas.