June 15, 2017
Tokyo Metropolitan Government
Tokyo Metropolitan Government to invite Foreign Companies which participate in the new program
Tokyo Metropolitan Government (TMG) is preparing a new plan which can be termed as the "Financial System Reform in Tokyo – Tokyo's Big Bang" in order to regain the status of Asian No.1 international financial city, and this new plan will be announced this autumn. Prior to the announcement of the new plan, TMG made public its summary titled "Interim Report on Policy for 'Global Financial City Tokyo' " (hereinafter referred to as 'the Report') on 9th June.
In this Report, TMG announced the launch of a new initiative to develop FinTech business, and the initiatives to support the establishment or development of innovative businesses.
In the document called "Investments for the Future Strategy 2017" which describes the new growth strategy of Japanese Government announced on the same day, FinTech business is regarded as one of the five fields where the policy resources of Japan should be concentrated on, and the necessity to accelerate challenges for innovation utilizing FinTech such as cashless payment, installation of API regarding bank business and utilizing credit card data, etc. is recognized by Japanese Government.
In order to transfer cutting-edge technology and know-how from overseas to Japanese companies, TMG has taken initiatives to attract foreign companies.
In this context, as mentioned in the Report, TMG now launches a new initiative named the 'Accelerator Program – FinTech Business Camp Tokyo' (hereinafter referred to as 'the Program').
TMG aims to generate ground-breaking innovation to improve convenience for Tokyo's residents, and re-energize Tokyo's economy by intensively running the following substantial three-month Program;
- To invite and select around five foreign companies with advanced FinTech technologies and business models such as blockchain, AI, etc. (hereinafter referred to as 'Foreign Companies').
- To support the Foreign Companies in their creation of business plan, including setting business match ups between the Foreign Companies and Japanese financial institutions, IT vendors, etc.
- To host pitch event where Foreign Companies will present their business plans in front of Tokyo-based companies, investors, etc.
1 Program outline
Foreign Companies with advanced FinTech technologies and business models (payments, financing, fund management, asset management, insurance, security, etc.) which have not yet been established in Japan.
(For more information, kindly refer to the 'Application Guideline' in TMG's HP)
Kindly check the 'Application Guidelines' and download the required documents in the following HP:
11:59 p.m., Friday, 14th July, 2017 (Japan Standard Time)
2 Tentative schedule
- June: Acceptance of application
- August: Selection and announcement of around five Foreign Companies
- September: Introductory seminar
- October to November: Implementation of mentoring / Compilation of a business plan / Networking events / Business matchings
- Early December: Pitch events (open-door / closed-door)
External Relations Section, Coordination Division,
Office of the Governor for Policy Planning,
Tokyo Metropolitan Government
Office hours: 9:00 a.m.- 6:00 p.m.
(Japan Standard Time / Closed Sat., Sun., and national holidays)