Innovative entrepreneurs have an opportunity to obtain funding and resources in an upcoming cohort.
Entrepreneurs with innovative ideas utilizing NEC’s technologies and businesses can move their ventures forward into seed-ready startups upon acceptance into NEC’s Elev X! Venture Studio. The Venture Studio program provides founders with resources and up to $200K of equity funding to develop their vision into a business with substantial market impact.
“Elev X! empowers ambitious founders with bold ideas to create a lasting impact,” said Shintaro Matsumoto, President and CEO of NEC X. “Each new cohort brings a fresh wave of innovation to solve pressing real-world challenges. These startups are pushing the frontiers of technology, creating solutions that address critical market needs and contribute to a better society.”
The Silicon Valley venture studio now seeks founders and their teams for its upcoming program set up for those ideating or in the prototyping phase. Those accepted into the program will strategically collaborate with NEC, receiving engineering expertise, extensive R&D resources, comprehensive support services, and funding to fast-track innovations.
NEC X welcomes entrepreneurs from all industries, however, NEC X has a particular strength and focus on B2B software and SaaS startups innovating in AI, climate and agriculture, marketing, public safety, and healthcare.
NEC X has graduated over 130 startups since 2018 that have worked with NEC X’s innovation team, researchers, industry experts, coaches, mentors, and advisors to develop their products and establish market fit. During the six- to nine-month program, the startups conduct customer discovery and validation, develop compelling Minimum Viable Products (MVPs), verify Proof-of-Concept (POC), and engage paying customers and investors.
Applications will be evaluated on innovation, market potential, and scalability, while candidates can have new business ideas, develop problem-solving hypotheses, or prototype MVPs. Revenue or product launch is not required.
NEC X is excited about its upcoming “Batch 13” cohort because of the program’s rapid growth. Elev X! applicants have more than doubled year over year since 2023 and its network of tech experts and entrepreneurs now encompasses more than 6,000 entrepreneurs worldwide. New corporate partnerships, providing additional resources and invaluable startup support, now include Sumitomo Life, SOMPO Digital Lab , and Yazaki Innovations.
Applications are being accepted until December 20th, 2024 for Batch 13 which will begin in early 2025, following a multi-phase selection process. Approximately 30 applicants will advance to its first phase called “Business Design,” a fee-free and equity-free pre-program of workshops and mentorship, followed by a selection of six to nine startups to join Elev X! Ignite.
