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Presolicitation Notice -Qualification of Venture Capital Firms to Partner in NEDO Technology-based Startup Support Program

April 8, 2015


Program Title: NEDO Technology-based Startup Support Program

Scheduled Solicitation Issuance Date: Late April 2015

Contact: Innovation Promotion Department
Tsukagoshi, Matsunaga, Tanaka
E-mail: vc-vb@nedo.go.jp

1. Program Description

(1) Synopsis

The New Energy and Industrial Technology Development Organization (NEDO) is planning to issue a solicitation to award qualifications (qualification period: 5 years) to venture capital firms, seed accelerators and other venture investment companies (VCs*) that will participate in NEDO’s assistance program for technology-based startups and venture businesses in the seed stage (VBs**) as investment partners.

All applicants will be required 1) to be capable of making investments in VBs as well as maintaining hands-on involvement after investment; 2) to be incorporated entities that do not receive funding from the Japanese government, a foreign government, a national university or a local government; and, 3) to set up an operating base (or a branch) in Japan to support VBs.

Teams comprised of multiple companies are also eligible to apply.

This is a presolicitation notice to publicize the planned solicitation release. Interested parties are encouraged to obtain the solicitation documents for the final details once the solicitation is posted.

*VCs = Venture capital firms, seed accelerators and other venture investment companies
**VBs = Technology-based startups and venture businesses in the seed stage

(2) Program Duration

FY2014 - FY2018

(3) Proposal Deadline

The proposal deadline is scheduled to be about one month after the solicitation issuance date.

【Reference: Synopsis of Planned Grant Program in which Qualified VCs will Participate】

  • Funding Amount: Up to 70 million yen for 2 years. NEDO will cover 85% of the total allowable cost.
  • Allowable Costs: Expenses necessary for commercialization of the technology seeds (e.g., development of practical applications, business feasibility study, etc.).
  • Eligible entities: Research and development VBs in the seed stage that are working on commercialization of concrete technology seeds and plan to receive funding from Qualified VCs. Funding amount from Qualified VCs should be equal to 15% or more of the requested project funding amount specified in the proposal.
  • Eligible technologies: All industrial technologies under the jurisdiction of the Ministry of Economy, Trade, and Industry, e.g. Robotics, AI, electronics, IoT, clean-tech, materials, medical equipment, biotech, and aerospace. (excluding nuclear technology)
  • Solicitation Issuance Date: To be determined (1 to 2 months after the announcement of Qualified VCs).

2. Proposal Preparation and Submission Procedures

The solicitation documents with the final details will be posted on NEDO website on the solicitation issuance date.

This project will be implemented based on the government's supplementary budget for FY2014. Therefore, the particulars of the open call may be changed, or the open call may be suspended, depending on the progress of deliberations of budget-related bills or due to a change of government policy.