Opportunity to Shape Innovation Arrives! Japan MIT Venture Forum Opens Call for Applications for the 26th Business Plan Contest

The Japan MIT Venture Forum, a specified non-profit organization, has been holding business plan contests annually since 2001 with the mission of "supporting the creation of ventures and innovation," and has been providing mentoring services to entrepreneurs.

Especially since 2021, rather than simply selecting the best, the forum has strongly focused on the business success of applicants, emphasizing their growth and changes in business plans through mentoring.

MIT-VFJ mentors, who possess specialized knowledge and business achievements in various industrial fields, are responsible for approximately three months of mentoring. Through thorough advice, they support applicants from analyzing business models against the market to, at times, reviewing the business concept itself. Applicants will proceed to the final presentation after thoroughly refining their business plans.

In addition to refining business plans, a training camp and interim presentation meeting are also prepared for the purpose of networking among applicants, mentors, and related parties. Ventures with the will to realize their business, including individual entrepreneurs, startups, in-house ventures, university-launched ventures, or those in the preparation stage for starting a business, are widely accepted. Applications in English are also possible.

We sincerely look forward to applications from ventures with innovative technologies or business models, and entrepreneurs who will lead the future of Japan and the world.

Ryutaro Aida, Chairman, Japan MIT Venture Forum

[Target Applicants and Application Conditions]

■ Target Applicants
Individuals who have already started a business or are preparing to start one, and who can make final decisions about that business.

*Applications from successors of small and medium-sized enterprises and new business projects within companies are also accepted, but the final decision-maker regarding the applied business must apply and participate in all scheduled events themselves, and those without representative rights in a company must have their affiliated company approve their application and participation.

*Applications from outside Japan and applications in English in addition to Japanese are also accepted.

*Applicants with a history of applying to this program in the past, or applicants/awardees of other contests, are also accepted.

■ Application Conditions
Applications must meet the following conditions:

The core technology or business model underlying the business must be innovative and highly feasible.

*Mainly targeting seed-stage and early-stage individuals.

*Must have a core technology or prototype, allowing for feasibility assessment.

*Applications based solely on ideas or concepts will not be subject to screening.

The applicant must have the will to execute the applied business as an entrepreneur and commercialize it.

*Business plans without the will to implement or those judged by the secretariat to be "business plan contest spam" will not be accepted.

The applicant must actively participate in the second screening, mentoring, interim presentation meeting, and final presentation.

*Active participation in mentoring is particularly essential.

*Mentoring meetings will be held approximately once every two weeks during the period. (Refer to the schedule section as well)

Consent to record and publish (on the internet, etc.) the final presentation.

*Presentation language is limited to Japanese or English.

Consent to the "Schedule" and "Applicant's Consent Items" described in the application guidelines.

■ Features of VMP (Venture Mentoring Program)

Finalist candidates (those who pass the second screening) will receive mentoring from experienced mentors for approximately three months until the final presentation.

Through mentoring, you will refine your business plan and presentation skills.

At the final presentation, you will receive feedback on your business plan and the results of the three months from experienced commentators. After the final presentation, you will be certified as a finalist.

Finalists will gain access to a venture ecosystem that includes MIT alumni and past finalists.

[Screening Criteria for Document Screening and Presentation Screening]

■ Finalist candidates (those who pass the second screening) will be determined based on the following screening criteria:

Innovation: Is the service or product based on innovative technology or a business model? Does it have the potential to create a positive impact on society?

Feasibility: Is it realizable as a sustainable business, or is it feasible?

Globality: Does it have the potential to contribute not only domestically but also to Asia and the world?

Leadership: Does the business representative have sufficient communication and presentation skills?

[Application Guidelines, Schedule]

■ June 22nd (Monday) Application Deadline
For further details, please visit https://www.mit-vf.jp.
Or download the application guidelines.
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