Tokyo Metropolitan Government to Invite Foreign Companies to Participate in FinTech Business Camp Tokyo

TOKYO, June 23, 2017 /PRNewswire/ -- The Tokyo Metropolitan Government (TMG) is preparing a new plan which can be termed the "Financial System Reform in Tokyo -- Tokyo's Big Bang" in order to regain the status of Asia's 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 June 9. 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.

Reference: http://www.seisakukikaku.metro.tokyo.jp/GFCT/english/index.html

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 substantial three-month Program.

1. Program outline

- Target companies
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 Guidelines" on TMG's website)

- Application
Kindly check the "Application Guidelines" and download the required documents in the following website:
http://www.seisakukikaku.metro.tokyo.jp/invest_tokyo/english/fintechaccelerator/index.html

- Submission deadline
11:59 p.m., Friday, July 14, 2017 (Japan Standard Time)

2. Tentative schedule

June: Acceptance of applications
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)