Our readers may recall that Japanese robotics company Schaft was recently acquired by Google and won the DARPA robotics challenge trials. Bloomberg reported yesterday that the company’s co-founder Takashi Kato will form a new 2 billion yen fund (approximately $19 million) for Japanese startups focused on biotechnology and energy efficiency segments. It will be called 246 Capital.
In the process of negotiating with Google during the acquisition process, he tried to get funds from 10 investment firms and the state-run fund Innovation Network Corporation of Japan (INCJ). But his efforts didn’t work out. In response to this disappointing experience, he plans to launch a scheme to help Japanese engineers and scientists get funding to complementary to their research and development expenses. ...continue reading ...
The Bridge 1/10/2014 [en]
- Investments in startups of Internet and mobile applications may be increasing in Japan recently, but it seems still difficult for more capital intensive or long term R&D required startups like robotics. It will be a great step that an entrepreneur who succeeded exit in the field becomes an investor to support these startups.