Please tell us about your company's business.
We are a venture capital firm based in Nagoya. We started as MTG’s corporate venture capital (CVC), and in 2022, we established a new fund by raising capital from external limited partners (LPs) to invest in startups working to solve regional issues. We are currently managing two funds. Regional challenges are common across Japan, and we believe that by supporting businesses that address these issues, we can contribute to the creation of new industries, the development of existing ones, and Japan's future.
MTG Ventures has been deeply involved with OIST, not only as one of the earliest investors in the OIST startup EF Polymer but also through incubator residency and membership in OIST Innovation Network (INO). Tell us how your connection with OIST first began.
I had known about OIST since my time at a previous venture capital firm. I think it all started with an article on NewsPicks. I remember being surprised, thinking, "There’s a university like this!" I also learned that they had launched an accelerator program, which caught my attention. However, due to the COVID-19 pandemic, investing in distant locations was difficult at the time. I only had the chance to visit OIST after moving to my current role at MTG Ventures.
During that trip to Okinawa, I met Katsunori Onishi from Umusan Lab, who was serving as a mentor at OIST at the time. He invited me to visit the OIST booth at an exhibition held in Yokohama, where I met Hiroshi Yoshikawa, then an OIST staff member and now CFO of EF Polymer, as well as Narayan, the founder of the company. After that, we decided to invest in EF Polymer, and during my next visit to OIST, I had the opportunity to meet the president and other key people. That was the beginning of our relationship with OIST.
What were the reasons behind your choice to join the OIST Innovation Incubator as a tenant?
I’ve always had a strong interest in OIST, so when I learned about the incubator, I immediately thought we should move in.
How are you currently using the OIST Innovation Incubator?
We’re renting a seat at hot desk. Whenever I visit Okinawa to meet with EF Polymer, we use it as a satellite office. Additionally, we list OIST as a location on our business cards, and I act as an evangelist for OIST, sharing its appeal with the people I meet.
What benefits have you found in being part of the OIST Innovation Incubator?
We don't use the physical space frequently, but being a tenant means the incubator staff take good care of us. Whenever we visit Okinawa, they set up meetings with 5–6 companies for us and invite us to speak at events. Even online, we've been introduced to new startups, creating various valuable connections.
Also, having a base at OIST helps us stay mindful of OIST’s latest research and educational systems, allowing us to continuously stay updated.
Which companies would you recommend to join the OIST Innovation Incubator?
I’d recommend it to companies that want to use technology to develop their businesses, especially corporations. OIST attracts talented researchers from around the world and has unique research seeds, making it an attractive environment for companies looking for new business ideas. We’ve already introduced it to the R&D members of our parent company, and they now visit OIST regularly.
For startups, collaborating with corporations that have demonstration fields can accelerate their growth. A community where businesses involved in R&D and field testing partner with startups would be even more attractive.
What do you expect from the OIST Innovation Incubator in the future?
We manage a community of around 400 companies from Hokkaido to Okinawa and hold study sessions every two to three months. We hope to collaborate with OIST to organize joint events and exchange opportunities. It would be great if we could help connect the Chubu region with OIST.
Currently, EF Polymer is excelling as an OIST startup, and we would love to work together to foster more success stories like theirs.
(Interview conducted on September 2, 2024)
