News Highlights:
The NTT Group has launched its first startup collaboration program, the NTT Startup Challenge.
The event is co-sponsored by NTT, NTT East, NTT West, NTT Docomo Global, NTT Communications, NTT Data, NTT Docomo Ventures, and NTT Finance.
– The program invites startups from across Southeast Asia interested in collaborating with the NTT Group and will hold a pitch competition and matching event on the final day of the NTT Startup Challenge on November 14, 2024 in Jakarta.
Nippon Telegraph and Telephone Corporation (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Akira Shimada; hereinafter “NTT”) will launch the NTT Group’s first joint startup collaboration program, the “NTT Startup Challenge.” This program will invite startup companies from across Southeast Asia interested in collaborating with the NTT Group, and a pitch contest will be held in Jakarta on November 14, 2024, as the final day of the NTT Startup Challenge.
Participants from the NTT Group include NTT East, NTT West, NTT Docomo Global, NTT Communications, NTT Data, NTT Docomo Ventures, and NTT Finance. Also participating as keynote speakers and judges are well-known venture capital firms from Southeast Asia, such as KK Fund and GDP Ventures, and Professor Akira Iriyama of Waseda University.
Through this program, NTT Group aims to collaborate with startups in the Southeast Asian ecosystem and other international markets to foster new business ventures.
1. Background:
The NTT Group aims to create new value by solving social issues. To that end, we believe that we can discover and solve various issues by identifying social issues, collaborating with many startup companies working to solve them, and promoting collaboration that utilizes the assets of the NTT Group.
Southeast Asia in particular is a huge market with 11 countries and a population of approximately 700 million1, and while it faces many social challenges, it is experiencing remarkable economic growth. For startup companies, solving these challenges represents a major business opportunity. As such, Japanese companies are increasingly turning their attention to Southeast Asia as a hub for innovation, rather than simply a production base for manufacturing.
From 2017 to 2020, NTT Communications implemented the “NTT Com Startup Challenge,” a program aimed at promoting collaboration with startup companies in Southeast Asia. More than 3,300 startup companies participated in this program, contributing to the creation of new businesses through pitch contests and matching events.
Recognizing the maturity of the startup ecosystem in Southeast Asia and the enthusiasm across the NTT Group for new business development in the region, we are expanding our collaboration efforts by launching the NTT Startup Challenge, NTT Group’s first co-hosted startup collaboration program.
2. NTT Startup Challenge Program Details:
(1. Overview:
The program aims to generate new business ventures through collaboration with the international startup ecosystem.
(2) Activities:
Starting in April 2024, the following initiatives will be implemented as part of a program led by the NTT Global Business Division.
・Advisory programs with leading VCs in Southeast Asia
・Participation in major startup events in Southeast Asia
・Discover startups through partner companies using the network built through the NTT Com Startup Challenge
・Final day of the NTT Startup Challenge (pitch contest and matching event)
(3) Roles of NTT Group Companies
NTT: program planning and management.
NTT Group companies: Leverage focus areas and assets provided to promote collaboration with startups and new business development.
3. Final day of the NTT Startup Challenge:
(1. Overview:
The final day of the NTT Startup Challenge will feature a pitch competition and matching event for Southeast Asian startups interested in collaborating with the NTT Group. Startups from various fields and growth stages are eligible to apply, and 400 to 500 applications are expected. The top 10 finalists will present in the pitch competition, and the winning company will receive a cash prize and access to various NTT Group assets (investment from CVC, ICT infrastructure, in-house use of startup solutions, etc.).
(2) Event details:
Target companies: Southeast Asian startup companies interested in collaborating with the NTT Group.
Website: NTT Startup Challenge
Pitch Contest Date and Time: Thursday, November 14, 2024 13:00 – 19:00 (Indonesia time)
Venue: Sohanna Hall, Jakarta, Indonesia
Preliminary judges: NTT and NTT Group companies
Final judges: Kuan Hsu (General Partner, KK Fund), Professor Akira Iriyama (Waseda University), and others.
4. Future developments:
Participating NTT companies will aim to create new businesses in Southeast Asia through collaboration with the potential winners and finalists on the final day of the NTT Startup Challenge. NTT Group companies are ready to provide support to startups interested in expanding into Japan. In addition, we will consider expanding this program to other countries in Southeast Asia and the Southern Hemisphere and various initiatives.
5. Recommended by Ricky Willianto, Ravenry co-founder (NTT Com Startup Challenge 2018 winner)
“The NTT Startup Challenge has helped open many doors for Ravenry, especially in the early stages. The NTT Startup Challenge provided insights and business matching opportunities and helped us access the Japanese market. As a result, we were able to very quickly gain several long-term Japanese organizations as clients. The NTT Startup Challenge has continued to provide Ravenry with valuable collaboration and networking opportunities since joining in 2018. We are proud to have been part of the program and look forward to continuing our relationship with NTT as our business grows.”
Brendan Rakphongphairoj, CIO of Mekari (NTT Com Startup Challenge Partner)
“As a trusted partner of NTT since 2017, Qontak has been able to leverage NTT’s enterprise ecosystem, extensive corporate network and numerous customers. We are sincerely grateful to NTT for their joint go-to-market support over the years and for further collaboration in the future. NTT’s Startup Challenge was particularly helpful and was the culmination of our cooperation, building a bridge for joint collaboration and cross-selling for over 400 technology companies.”
1Source: IMF (International Monetary Fund), 2024
Southeast Asia population (million): 685.75 million
About NTT
NTT contributes to the realization of a sustainable society through the power of innovation. We are one of the world’s leading technology companies serving consumers and businesses as a mobile operator, infrastructure, network, applications and consulting provider. Our services include digital business consulting, managed application services, workplace and cloud solutions, data centers and edge computing, all supported by our deep global industry expertise. Our sales exceed $97 billion, we have 330,000 employees and annual research and development expenditures of $3.6 billion. Our operations span more than 80 countries and regions, serving customers in more than 190 countries. We serve more than 75% of the Fortune Global 100 companies, thousands of other enterprise and government customers, and millions of consumers.
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