Riken Innovation Capital, the investment unit of Japan scientific research organisation Riken, has already made a first close of $25m on a total fundraising target of $50 by the year’s end.
The investment unit has already formed a partnership with Scotland, notably Scottish Enterprise, the country’s economic development agency, which will give the corporate venturing unit access to deal opportunities in the life sciences and green technology sectors.
The agreement will formalise RIC as one of Scottish Enterprise’s key global investment partners where together the partners will seek to co-invest in some of Scotland’s most promising life sciences and green technologies to help bring new innovations to market and grow Scottish companies into globally competitive international businesses.
Signing the agreement on behalf of Scottish Enterprise, managing director Paul Lewis said, “RIKEN is a major player in Japan’s research and funding community and this new partnership represents an opportunity for Scottish companies not only to access significant international investment, but to collaborate with a world leading research institution to help develop and commercialise technologies for the future.”
Back in its domestic market of Japan, Riken has built up its technology transfer efforts through its Riken Innovation Center (RInC), which is an office in the Riken Research Cluster for Innovation. RInC manages the Baton Zone programme, which supports the transfer of Riken’s scientific achievements into commercial products through partnerships with private companies. The scope of the programme provides opportunities for corporate researchers and technicians to work in Riken laboratories as well as support the creation of research teams working on projects proposed by private companies.