Inno Vietnam - Japan Fast Track Pitch 2023

Aug 31, 2023

-6 leading companies from Japan and Vietnam call for proposals to the challenges to accelerate open innovation with startups-

JETRO, co-organizing with government agencies of Japan and Vietnam, will hold the “Inno Vietnam - Japan Fast Track Pitch 2023” in Hanoi on November 3rd. Towards the Fast Track Pitch, JETRO announced a call for startup’s proposals to the open innovation challenges provided by the 6 challenge owners from Japan and Vietnam (deadline of the application: 11:59 PM (Vietnam time), September 24th, Sunday) Furthermore, the launch event of the Fast Track Pitch will be held on August 29th in Hanoi, in which the challenge owner companies will explain the details of their challenge statements. JETRO continues to support open innovation between startups from Japan and ASEAN to generate innovations as outcomes of the Fast Track Pitch event through various menus such as “J-Bridge”.

Taking the opportunity of the 50th anniversary of ASEAN-Japan friendship and cooperation this year, JETRO and Ministry of Economy, Trade and Industry (METI) have decided to launch the “ASEAN-Japan Co-Creation Fast Track Initiative” to support the creation of open innovation through collaboration between startups and large companies from both ASEAN and Japan. This initiative proposes a new format of cooperation with ASEAN countries to create new innovations.

Under this initiative, JETRO has held the Fast Track Pitch events in Singapore (April 20th, 2023) and in Bangkok (August 7th, 2023), in which more than 700 people from startups, large corporates, investors, and supporting organizations participated. Also, the third event is scheduled to be held in Jakarta on September 1st, 2023.

Today, JETRO announces that the “Inno Vietnam - Japan Fast Track Pitch 2023” will be held in Hanoi, Vietnam on November 3rd, 2023, to be co-organized by Ministry of Planning and Investment (MPI) of Vietnam and Vietnam National Innovation Center (NIC) as the fourth round of the “ASEAN-Japan Co-Creation Fast Track Initiative”. Moreover, 2023 is the 50th anniversary of establishing diplomatic relations between Vietnam and Japan. It is an honor to hold the event as an official anniversary celebrations as well.

At the fourth Fast Track Pitch Event, 6 companies from Japan and Vietnam with strong business presence in Vietnam become challenge owners and provide challenges based on each company’s needs to create open innovation and call for solutions to each challenge. As there is no eligibility criteria on the application, any companies can submit proposals regardless of the size and geography of the company.

Each company's challenges are published on the following JETRO’s special website and application is opened for startups to submit proposals. Startups can submit their proposal through the website.

Deadline for proposals: 11:59 PM September 24th, 2023 (Vietnam time).

The launching event will be held on August 29 (Tuesday) th in Hanoi, in which challenge owners will explain the details of the challenges. At the venue, the networking session is also scheduled, which startups, representatives of challenge owners, and officials of Vietnamese government attend.

Agendas(675KB)

The “Inno Vietnam - Japan Fast Track Pitch 2023” is supported by following partners from the startup eco-system of Vietnam, ASEAN, and Japan.(As of August 25, 2023)

Because of a young population with a rapidly rising income level and emergence of a middle-income class enjoying urban city life, ASEAN represents a dynamic growth center that drives global economic development. This dynamic growth has minted fast growing startups, which play critical roles to generate innovation in a wide range of fields, such as logistics, payment and financial services by deploying digital technology.

While startup ecosystem has rapidly developed in ASEAN and Japan during the last decade, access to collaboration opportunities with large corporates in the region is still very limited though such collaborations can co-create open innovation and boost the expansion of startups’ businesses to the next stage.

With this understanding and taking the opportunity of the 50th anniversary of ASEAN-Japan friendship and cooperation this year, METI and JETRO have decided to launch the “ASEAN-Japan Co-Creation Fast Track Initiative” to support the creation of open innovation through collaborations between startups and large companies from both ASEAN and Japan. This initiative proposes a new format of cooperation with ASEAN countries to create new innovations.

In June 2023, JETRO signed an MOU with ASEAN-BAC for cooperation to promote the ASEAN-Japan Co-Creation Fast Track Initiative.

(Reference) Press release by JETRO
Three MOUs Signed with ASEAN Business Advisory Council (ASEAN-BAC)

Under the ASEAN-Japan Co-Creation Fast Track Initiative, startups from ASEAN and Japan will have the opportunity to (1) receive support not only from Japanese organizations such as JETRO, but also from the government agencies of ASEAN countries, and (2) access not only major Japanese companies but also a wide range of startup ecosystems, including global companies based in ASEAN.

Moreover, finalist startups will receive additional points in the selection process in the Asia Digital Transformation (ADX) Promotion Program to support their PoCs.

(Reference)
Website of the Asia Digital Transformation (ADX) Promotion Program by JETRO(898KB)

The next round of the Fast Track Pitch Event will take place in Jakarta, Indonesia, on September 1. Please refer to the JETRO’s special website below for more details.

ndonesia-Japan Fast Track Pitch Event 2023

In Singapore, the first "Singapore-Japan Fast Track Pitch Event" was held on April 20th, 2023, co-organized with the Ministry of Trade and Industry, Enterprise Singapore, and Singapore Economic Development Board.
The second round, the “Zest Thailand ―Thailand-Japan Fast Track Pitch Event 2023―”, was held on August 7th, 2023, in Bangkok, co-organized with PTT Public Company Limited (PTT Group), the Thailand Board of Investment, and Ministry of Energy of Thailand.
For more information on the past events and the challenges, please refer to the press releases below.

(Reference)
JETRO held the “Singapore-Japan Fast Track Pitch Event” in Singapore to accelerate global open innovation of Japanese companies/startups

(Reference)
Zest Thailand ―Thailand-Japan Fast Track Pitch Event 2023―

Japan Innovation Bridge (J-Bridge) is a business platform for the creation of open innovation between Japanese companies and overseas companies including startups.