Japan-based rail operator JR East’s corporate venturing arm, JR East Start Up, launched a seed and early-stage business co-creation and incubation centre on Wednesday.
The unit, dubbed Startup Station, is located near JR East-run Takanawa Gateway Station in Tokyo. The 11-month initiative is accepting applications until August 14 and will announce the participants on August 21 before launching the scheme a week later.
Entrepreneurs will have access to the scheme’s office space and get mentoring from JR East’s industry experts. They may also receive up to ¥5m ($47,000) in convertible bond financing to support proof-of-concept projects.
In addition, JR East will hold regular pitch events to seek out innovative ideas and technologies that can improve its services. Further mechanisms will be in place to create synergies with participating startups.
Investment firm BlackCrow Capital’s CEO and founder, Yasushi Sugawara, who had previously helped digital marketing agency Opt form corporate venturing unit Opt Ventures in 2013, will serve as an external partner, advising on finance and fundraising operations.
