FUST Lab.

FUST Lab. successfully attended the 2023 11^th Innovation Leaders Summit (in short, ILS 2023) in Tokyo, Japan, from December 4th to 7^th. 

ILS 2023 is the largest open innovation event in Asia, with participants from 113 major corporations, 18 venture capital firms, and 844 global startups from 27 countries and the event hosted a total of 3,583 business meetings. 

The business meetings were between startup & major corporations and startup & VC meetings that were pre-arranged through its Pre-Event Information Exchange Platform. Once mutual agreements and interests were reached, a Power Matching was scheduled. On average, each startup experienced 4.1 Power Matchings, with the top 30 global startups achieving an average of 6.9. The highest match record for 2023 was 14 Power Matchings. 

Despite the average numbers, FUST Lab has secured a total of 10 Power Matchings (9 with major corporations and 1 with VC). Through our meetings, we have confirmed that there is a strong interest in FUST Lab’s technology in the Japanese Market. 

The meeting focus was primarily on the chemical sector, with meetings held with major corporations such as Yokogawa Electric Corporation, Nippon Paint, Nippon Shokubai, Nikko Chemicals, Sekisui Chemical, Nippon Kayaku, Resonac Corporation, Mitsubishi Chemical, and Shin-Etsu Chemical.

Successful investment meetings were also conducted with the VC Universal Materials Incubator, specializing in forming funds and concentrating investments in chemical startups within Japan.

Following the event, FUST Lab. plans to explore collaboration opportunities with companies met during business meetings and conduct DEBREX equipment and material tests. Furthermore, strategic collaboration with Japanese VCs is on the agenda to efficiently enter the Japanese market and foster collaborations with major Japanese corporations.

Looking ahead, FUST Lab. is set to participate in Interphex Tokyo 2024, the largest exhibition in the pharmaceutical/cosmetics sector, from June 26th to 28th at Tokyo Big Sight. The company aims to promote DEBREX and recruit local partners during the exhibition.