Nissay Capital, the corporate venture capital arm of Japan-based insurer Nippon Life, has chosen the second cohort of 10 startups for its 50M accelerator.
Activated Trigger, Ascria, Appodori, Antway, TrustHub, Drips, Nendo, Hype, Better and a yet-to-be-named company featured on the roster, following the selection of a first batch of 14 companies in May 2018, 11 of which have raised a total of ¥1.74bn ($16m) in further funding.
The startups will join the six-month scheme this week, with each receiving ¥50m ($460,000) in funding. They will take part in 50M alumni meetings as the initiative looks to build an ecosystem.
Participating companies will have access to 50M’s shared office space and Amazon Web Services, Google Cloud Platform and HubSpot software programs, in addition to monthly pitching events and weekly mentoring sessions on entrepreneurship, business development and funding strategy.
The initiative will culminate in a demo day set to take place in early December when participants will showcase the technologies they have developed, with the possibility of them each receiving an additional ¥45m of seed capital to a maximum ¥3bn in a post-series A round.
