5 mins read

Applications for the Global Market-Fit Programme Japan 2023 are now open

July 6, 2023
Digital News Asia
5 mins read

Leave a Nest (LVNS) and the Malaysian Research Accelerator for Technology and Innovation (MRANTI) is collaborating in this year's Global Market Fit Programme (GMP) Japan for startups seeking to expand their business presence in Japan. Applications for the programme are now open to startups until 30 July.

"GMP 2022 value creation for 18 companies was US$1.159 million (RM5.4 million). This year, MRANTI is thrilled to assist 25 new innovative companies to embark on their next growth phase," said Dzuleira Abu Bakar (pic), CEO of MRANTI.

To be eligible for the programme, companies must demonstrate a minimum revenue of US$214,600 (RM1 million), possess commercialised products with a minimum Technical Readiness Level of 6 or higher, have a proven stream of business transactions, and maintain a solid financial record. There is also a fee of RM5,000 per startup which can send up to three participants.

This year’s GMP Japan seeks companies prioritising R&D solutions with intellectual property registered in Malaysia or majority Malaysian-owned. Startups in various sectors, including Manufacturing, Robotics/Drones, IoT, AI, Agri-tech, Biotech, Healthcare, Med-tech, Food-tech, Care-tech, Marine-tech and Ecotech, are encouraged to apply.

The programme spans from 28 Aug to 10 Nov. Participants will engage in physical and virtual workshops, match-making meetings, and mentorship sessions. The programme will guide participants on localising and validating their business models, strategising their market entry, and preparing their products and solutions for needs analysis and value creation frameworks.

Participants will gain networking opportunities, business insights, and technical support through one-on-one mentoring sessions from Leave a Nest ecosystem partners. During the validation trip to Tokyo and Osaka, they will also meet with potential investors, industry associations, and prospective partners to explore collaboration opportunities and contracts.

According to MRANTI, each participating company is projected to generate RM500,000 in value creation over 24 months, achieved through prototype contracts, development contracts, partnerships, IP licensing, subscriptions, and other collaborations.

[RM1 = US$0.215]
Interested startups can apply or inquire at https://mranti.my/gmp.

This collaboration results from the MoU LVNS Malaysia and MRANTI signed on 15 June after LVNS's Global Conference. The event also coincided with celebrating the 50th ASEAN - Japan Friendship and Cooperation Anniversary.