Toyobo joins JMTC Chemical and Materials Investment Limited Partnership to accelerate open innovation with advanced materials start-ups
Toyobo Co., Ltd. joined the JMTC Chemical and Materials Investment Limited Partnership, an investment fund to accelerate start-ups engaged in developing new materials, as a first-close investor.
The fund was established on April 1 by JMTC Capital LLC, whose representative partner is Japan Material Technologies Corporation (JMTC), as the fund’s general partner having unlimited liability. It will provide funding to advanced materials start-ups in the seed stage*1 to help spur their growth.
Toyobo has pushed ahead with business development through open innovation by collaborating with outside organizations, including participation in 2018 in a chemical-related venture fund based in Europe*2. Toyobo collaborated with JMTC from the fund’s planning stage and decided to join it as a first-close investor. The company aims to create opportunities for joint business undertakings with advanced materials start-ups developing technologies compatible with its business fields by harnessing information obtained through the fund.
Toyobo’s vision is to be company that “continues to create the solutions needed by people and the earth with materials and science.” Going forward, the company will continue to help society solve problems by supporting promising start-ups.
|*1||The stage right before/after establishing a firm, in which business has yet to start in earnest|
|*2||According to Toyobo’s press release dated February 14, 2019|
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Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
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