NEDO Startup Program: US Market Validation
SUPPORTING JAPANESE FOUNDERS IN THEIR EXPANSION TO SILICON VALLEY
As 2018 draws to a close, we’re slowly wrapping up our first year in business and can safely conclude that it has a successful and productive one. One of the main reasons behind this years success, is the close partnership that 10X has developed with our Japanese partner, NEDO Silicon Valley. In partnership the Silicon Valley-based team and the Chief Representative, Shinnosuke Kameyama-san, we have developed a rigorous startup program that supports Japanese founders in their efforts to explore the US market. As Japanese founders are looking to commercialize their technologies into the US market, they are immediately presented with three major challenges; 1) little or no existing network in Silicon Valley; 2) lack of understanding of local business culture and; 3) language barriers and ability to communicate their business effectively in English. Our program tries to tackle these important challenges through extensive and consistent training that help them to properly address the US market and to validate the potential of it.
THE NEDO STARTUP PROGRAM
During the course of the NEDO Startup Program, we are working side-by-side with the Japanese founders for more than two months, helping them to develop their messaging, presentation material, and to build an extensive lead list of potential customers, partners and investors (depending on the stage and imminent need of the startups). This will serve as important preparation for their conversations with potential companies that 10X connects them to during the Silicon Valley immersion program, which include central players from the investor community. Here’s a quick overview of the components of the program:
Virtual Training Program (1,5 months)
Japan Startup Bootcamp (1-week)
Silicon Valley Immersion Program (1-week)
We helped introduce the founders to +40 connections through various activities, including themed presentations addressing important topics like Building Cross-border Teams, Enterprise Sales Process and Building Strong Partnerships, How to Raise Capital in the US, and more. In addition, we also arranged targeted meetings with potential customers and investors interested in the solutions developed by the startups attending this program. Thanks to partners and representatives from Band of Angels, Silicon Valley Robotics, Hustle Fund, Data Collective, 500 Startups, ONEVC and more.