Virtual Accelerator Launch with Japan
Most businesses, small and large, started 2020 with great excitement and the prospect of making another record-breaking year with economic growth. Little did we know that a global pandemic was lurking around the corner, ready to shatter our plans and traditional ways of working. The pandemic has, in an instant, changed our society in many ways including creating new norms in how we socialize and conduct business. We were forced to stop, take a pause, rethink our business strategies and offerings, and come to the realization that the status quo would no longer be possible now or even in the foreseeable future.
We, along with the rest of the world, had to find new ways to create value for our clients, partners, and audiences. Fortunately, 10X Innovation Lab had previous experience running digital programs, so we were able to quickly pivot our operating model to support a new way of working and a new way of delivering quality content that was engaging and relevant to our clients.
With that, it is with great enthusiasm that 10X announces great news—the launch of a new virtual accelerator program held in partnership with the Tokyo Metropolitan Government (TMG) and the Japan External Trade Organization (JETRO). Over the years, 10X Innovation Lab has supported more than 175 Japanese entrepreneurs and through those efforts, have accumulated deep knowledge and expertise in supporting founders interested in expanding their business to Silicon Valley.
This virtual accelerator program will support 8 high-potential Tokyo-based startups in becoming growth catalysts for their country. 10X will support founders in their expansion efforts to Silicon Valley through a series of workshops, 1:1 mentorship sessions, and keynote presentations delivered over the next 3 months. The 10X team will train and prepare these Japanese founders to develop a business model that will grow in a new and challenging market. The accelerator will serve to build, operationalize, and grow successful startups through training and preparation. The important topics 10X will include in the virtual accelerator program are the following:
Pitching to investors
Improving and modifying the value proposition for new target markets
Legal preparation
Sharpening executive summaries and slide decks
Refining email communications to the American market
Feedback and guidance on all communication channels and formats
Guidance on marketing strategies for specific industries (channel, spend, prioritization)
Mentorship and guidance throughout the accelerator program.
Participants will also get exclusive access to best practices, insights, and common pitfalls of entering a market like the US. They will learn how to build a team, network, and develop an ecosystem that will support their business’ goals and mission. Finally, they will be given time to create their own business plan in collaboration with our advisors based on key learnings from the program.
Here is JETRO’s Chief Executive Director Takanari Yamashita’s statement about the launch of the accelerator:
I am thrilled to launch the virtual accelerator program this year. We have built a robust, long-term program that equips Japanese founders and CEOs with the practical skills necessary to succeed in the Silicon Valley Ecosystem, and I am looking forward to seeing this come to fruition. This program is created in partnership with the 10X Innovation Lab team, which has extensive experience working with Asian startups in Taiwan and Japan, among others. I believe 10X Innovation Lab will absolutely give participants insights and confidence to compete in the global market. The virtual accelerator will provide more flexibility and scalability to support our teams during these unstable times. I am looking forward to announcing the chosen startups and meeting them online! -Takanari Yamashita, Chief Executive Director, JETRO USA
At 10X, we believe that innovation comes from all corners of the world. Japan has incredible technology and continues to be one of the most advanced countries in the world when it comes to technological innovation and thus is a natural partner for this virtual accelerator. 10X’s CEO, Klaus Wehage says:
I am proud of the 10X team and that we’ve been selected to lead this important initiative. As an organization, we have deep experience in working with Japan-based founders and have, over the years, supported hundreds of startups from Japan. We recognize the challenges that are presented when a founder wants to expand from a market that is very different from that of the US. Hence, we emphasize the importance of customer validation and localization. We uplevel the founders’ understanding of the particularities and differences of the US market and culture. Without addressing these issues head-on, it will be difficult for any founder to be successful. We are excited to get started! - Klaus Wehage, CEO, 10X Innovation Lab
Program Announcement Links:
Tokyo Metropolitan Government: X-HUB TOKYOキックオフイベントを開催
If you are interested in learning more about 10X Innovation Lab and the work that we do with startups and governments, contact us at klaus@10Xinnovationlab.com.