Kumamoto City launches support program for local Web3 start-ups

Japan’s southwestern city of Kumamoto has launched a program to support innovation start-ups including those in the Web3 area in an effort to create a new driver of growth.

Under the program, HIGO CANVAS, the city is seeking three types of start-ups, including those with an emphasis on crypto currencies, blockchain, NFTs, DAOs, VR, AR, MR and XR technologies. 

The other two categories of firms targeted by the initiative are Kumamoto-based companies which aim to grow their businesses in the city within 10 years’ of establishment, and start-ups with businesses that can help solve social issues and create new attractions in the city.

Entrepreneurs admitted to the program will have to set their own business targets and achieve them during a six-month period between October and March next year. They will be able to receive guidance from mentors in the process and consult senior entrepreneurs associated with Kumamoto. 

The start-ups will also receive project support funds, clerical support and matching opportunities to grow their businesses. At the end of the program, they will have a chance to pitch their projects to venture capitalists, financial institutions and companies for potential investment. 

The initiative is part of Kumamoto City’s efforts to groom local entrepreneurs in newly emerged industries. 

Interested start-ups can apply for the program from now to September 19. An online briefing session will be held on September 2 to introduce more program details.