Japan-based cosmetics contract manufacturer Tokiwa Corporation launched the second iteration of its Tokiwa Lab accelerator on Monday with ¥30m ($275,000).
Founded in 1948, Tokiwa initially focused on its pencil and paper manufacturing business before adding a cosmetics division some 20 years later. The company produces cosmetics and personal care products including eyeliners, eye shadows, mascaras, lipsticks and powder on behalf of global brands.
Following an initial cohort in July last year, the latest batch will similarly target beauty care-focused startups. Tokiwa will provide industry know-how in areas including research and development, manufacturing and market development areas to the selected entrepreneurs.
Tokiwa Lab began as a result of a strategic business and capital partnership agreed with private equity group Carlyle Japan in early 2019 that involved the latter offering marketing, business operations and market expertise in a bid to help Tokiwa expand internationally and boost innovation efforts.
