The University of Tokyo Edge Capital Partners (UTEC), a venture capital fund, says it is launching a new program to address the problem many deep-tech founders face. They can raise pre-seed capital from an incubator or accelerator program, but reach the funding gap before proceeding to the initial phase round. Without financial resources, it takes longer to commercialize their technology, no matter how promising it may be.
UTEC, an independent venture fund affiliated with the University of Tokyo and other educational institutions, forms the UTEC Founder Program (UFP) to bridge that gap. It offers two tracks: equity, which invests up to 1 1 million with flexible terms, and grants, a daily donation of about $ 50,000 (or occasionally up to $ 100,000) to recipients every six months.
UFP’s applications are open to Diptech researchers and founders anywhere in the world.
UTEC launched a fundraiser of 27 5,275 million in May and typically writes about તપાસ 1 million to પ્રથમ 5 million in initial investigations. Its total assets under management are approximately 80 80,880 million, which Path says makes UTEC one of Japan’s largest venture capital funds for science and tech companies and one of Asia’s largest deep-tech funds.
After receiving feedback from Deep Danda technical researchers and entrepreneurs, the fund’s partners realized that even though they had developed potentially effective technologies, they might not be ready for seed funding. Many teams will also benefit from Swift funding rather than continue their technical preparation for commercialization, rather than waiting a long time to process diligently.
In an email, UTEC principals and UFPs Hiroki Kobayashi and Kiran Mysore, tell TechCrunch, “As an entrepreneur presents a new product to meet the urgent needs of the market, we strive to be more humble at UTEC and to serve new investment products. Offer. Technology researchers and entrepreneurs. UFP A UTEC The initial phase of the Technology Professionalization Initiative is an attempt to channel more than 15 years of deep-tech investment experience and learning. “
The equity track is primarily for seed and pre-series A startups, and offers flexible investment conditions such as secure notes, KISS and J-KISS (Japanese version of Keep It Simple Security), convertible notes and bonds or common stocks. It accepts applications throughout the year, and successful candidates are contacted within three days of the first visit. Mysore said the entire apparent hard work and investment committee process would be completed within four weeks of the full interview.
Grants are intended to track pre-launch or early-stage startups, and funds can be used for things like prototyping, market testing, and recruitment. The application is opened every six months, with about five teams selected each time. The deadline for the first batch of applicants is July 31 and a decision will be taken in September.
Deeptech teams participating in the UFP also gain access to UTEC’s network of more than 115 Japanese and global startups, educational institutions, government agencies and corporations.