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The Phoenixi incubation program is to support startups from the early stage to the late under the theme of “innovation born from time and space sharing”. This program assists your bold business challenge that is expected to achieve sustainable growth.
Accepted startups will have access to a wide range of resources to transform the ideas into scalable, sustainable and impactful ventures.
Strategic Resources provided through
- Managerial strategy and operations consulting by experts
- Mentoring support by experienced entrepreneurs
- Residential space and workspace
- Fundraising opportunities
- Technical assistance through collaboration with academia
Mentoring support by experienced entrepreneurs:
Each startup is paired with a field-specific mentor according to the stage where venture stands. As each startup will be offered one-hour mentoring once every two weeks during the residency phase, each startup can receive consultation and advice according to the actual venture stage,
Eligibility
Applicable to both categories (Sponsor companies and Independent applicants)
- The Applicant must be 20 years old or older at the time of program start.
- The business (idea) must be of the Applicant’s own.
- The Applicant must be the primary decision-maker for the business (idea).
- The Applicant must be able to participate in the 4-month incubation program at toberu.
Applicable to Sponsor companies
- The Applicant and her/his Sponsor company must have mutual agreement on the general business planning.
- The Applicant must fully commit to the business (idea) during the residency period at toberu.
Applicable to Independent applicants
- The Applicant must have the intent to establish a social venture. (If already established, the venture should be up to 1 year old with an annual sales of up to JPY 100M.)
- The Applicant, whether she/he established a venture through the program or is already running a venture, must be willing to give her/his sponsor (SK Impact Fund, RJ Fund, toberu Fund, or Phoenixi) the right to purchase 3% equity when the venture has the need for equity financing (stock option also acceptable).
Selection Criteria and Process
Schedule
| Cohort 9 | ||
| Application Period: | 20 Dec 2023–14 Jan 2024 JST | |
| Notice to candidates: | 31 Jan 2024 | |
| Second Selection: | Mid Feb | |
| Notification to successful applicants: | 28 Feb | |
| Mentor Selection: | April | |
| Cohort (program) start date: | 8 May | |
| Final Showcase: | 18 Sept 2024 | |
Selection Criteria
Successful applicants will be selected based on the following criteria:
- Passion toward venture and entrepreneur
- Leadership, Vision, Problem-solving skill
- Execution
- Issue identification and originality for its solution, Skills
- Innovative approach for products and services, Sustainability, Expandability
- Social impact
Selection Process
Primary Selection: Screening
Applications will be reviewed based on selection criteria. Applicants will be notified of the results individually. Those who passed this selection round will move on to the secondary selection round.
Secondary Selection: Pitch
Pitch gives the Selections Committee a chance to interact with applicants and learn more about each venture. At the Pitch, applicants will be given 5 minutes to virtually pitch their ideas and given a chance to answer questions from members of the Selections Committee.
Final Selection:
After the Pitch, the Selection Committee will select eight to twelve applicants for the Phoenixi incubation program.
