Japan-based theme park and tourism site operator Oriental Land Company (OLC) has formed a ¥3bn ($27.4m) corporate venturing vehicle dubbed Oriental Land Innovations.
Founded in 1960 by railway operator Keisei Group, OLC runs the Tokyo Disneyland and Tokyo DisneySea theme parks in Japan on behalf of media and entertainment conglomerate Walt Disney Company.
Oriental Land Innovations will combine entrepreneurs’ innovative ideas with the corporate’s resources in a bid to create business opportunities and promote collaborations within the startup ecosystem.
The fund will invest in and partner developers of technologies and products related to OLC’s core entertainment and resort management businesses, covering areas such as human resources, children’s lifestyle and education, smart city development and sustainable energy.
The unit will be overseen by Rikiya Toyofuku, who had previously managed OLC’s food business development group.
In addition to Oriental Land Innovations, the corporate will continue to explore strategic options with a long-term perspective in order to contribute to its growth.
