Mitsubishi Electric Corporation and Global Brain Corporation announced recently their immediate launch of the ME Innovation Fund, a corporate venture capital (CVC) fund that will invest in and partner with startups across the world. The fund will operate with a commitment to invest five billion yen in capital over the next ten years.
Today, open innovation has become increasingly important in the effort to adapt quickly to changes in the business world, including diversifying the needs of customers and societies, growing environmental awareness, and the rapidly developing technology.
Through the ME Innovation Fund, Mitsubishi Electric and Global Brain will invest in and support the growth of global startups thought to have the potential for breakthrough innovations primarily in the digital and green-innovation domains. In addition to financing, the fund will provide wide-ranging business knowledge and management support as well as technology, aiming to realize promising new businesses that can collaborate with Mitsubishi Electric to contribute to a more sustainable world.