FIRST CVC and I&CO Form Business Partnership to Activate the Startup Investment Ecosystem in Japan and Asia

FIRST CVC, which operates Japan's largest CVC and startup community with over 400 member companies, and I&CO, which supports business and brand strategies for companies, have recently entered into a business partnership. As a bridge connecting CVCs in Japan with startups in Asia, the two companies will leverage their synergies in areas such as business collaboration, fundraising, and increasing corporate value. As part of the partnership, Daiki Kanayama, who oversees the strategy division at I&CO, will become an external advisor to FIRST CVC, supporting business expansion and design and branding efforts in both Japan and Asia.

Background of the Partnership

FIRST CVC operates Japan’s largest CVC and startup community with over 400 member companies and is accelerating its business development as an innovation platform for co-creating new businesses. The community includes over 300 business companies and CVCs engaged in open innovation and startup investment, as well as over 100 startups. It focuses on supporting innovation through activities such as mutual learning among companies, creating networking opportunities, conducting research and public relations on industry-wide activities, and promoting collaboration between business companies and startups.

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I&CO specializes in global strategic planning and design development, and has handled numerous projects related to new businesses, products, services, and branding for both domestic and international companies. In February 2024, I&CO established I&CO APAC to accelerate business support in Asia, focusing on assisting Japanese companies expanding into the region and supporting Asian startups aiming to enter Japan. I&CO has already partnered with over 200 startups based in Asia and plans to expand its partnerships further.

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This new partnership combines the strengths of FIRST CVC, which operates Japan's largest CVC and startup community, and I&CO, which has a strong network with high-quality startups in Asia. The two companies aim to resolve information asymmetry and network fragmentation, strengthening business collaboration between Japanese companies and Asian startups, as well as supporting mutual market entry.

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Details of the Business Partnership

1. Business collaboration and investment support between Japanese companies, CVCs, VCs, and startups in Asia
2. Individual support for Japanese companies expanding into Asia and for Asian startups entering Japan

FIRST CVC and I&CO will expand their respective business areas and support functions by outsourcing and contracting certain tasks to each other, leveraging their strengths and networks. This will increase opportunities for Japanese companies, CVCs, and VCs to consider Asian startups as potential business partners or investment targets, while also providing Asian startups with more opportunities to explore Japanese companies, CVCs, and VCs as potential business partners or funding sources. The goal is to promote cross-border collaboration and drive innovation. Additionally, both companies will collaborate to provide individual support for Japanese companies expanding into Asia and for Asian startups entering Japan, as part of this business partnership.

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I&CO Supports the Development of Corporate Identity

As part of this partnership, Daiki Kanayama, who oversees the strategy division at I&CO, has become an external advisor to FIRST CVC, supporting business development, design, and branding across FIRST CVC's activities. As the first initiative, the corporate identity for FIRST CVC has been newly established, including the brand logo, visual identity, tagline, and statement.

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The visual identity expresses the idea of embarking on new challenges alongside both large corporations and startups. This is symbolized through dynamic, multiple straight lines, which can also be interpreted as the kanji character "一" (FIRST), representing a starting point. Along with this, a logo that conveys the energy of stepping forward from the starting line, a brand tagline "Continuing to depict the first beginnings," and a statement that tells the story behind these concepts were developed.

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For more details:

•  FIRST CVC website：What does the corporate identity represent with its focus on 'Continuing to depict the first beginnings

•  I&CO website：CVC Business Partnership

Comment from Kakei Yamada, CEO of FIRST CVC

Business companies and startups form an ideal combination that can complement a wide range of management resources, beyond just funding, creating new synergies for both parties. Japan is home to many outstanding business companies, being the third-largest economy in the world, and collaborating with the new economic entity that is startups should enable significant growth. By combining the networks of the community we operate with I&CO APAC’s network of Asian startups, we believe we can create business opportunities and support that were previously unattainable, overcoming barriers in Asia. With this in mind, we decided to enter into this business partnership. We aim to expand our business reach from Japan to Asia and contribute even more to the creation of innovation by business companies and the evolution of the startup ecosystem.

Comment from Daiki Kanayama, I&CO

When I was approached by Mr. Yamada, CEO of FIRST CVC, and Mr. Fujiwara, COO, I resonated with their passion for the business and felt that combining the strengths of both companies and building a network between Japan and Asia could lead to global-scale innovation. Through this initiative, I hope to support the deepening of collaboration between Japanese companies and Asian startups across various aspects of business.

Profile of Daiki Kanayama

I&CO Tokyo / Director of Strategy

Daiki Kanayama joined SoftBank as a new graduate and was the youngest to participate in the creation of the new business division under President Masayoshi Son, focusing on the electric power business and overseas strategies. As a founding member of the robotics business, he helped launch the venture and later took on a dedicated marketing role. He also provided long-term marketing support for Sony's new business initiatives. Since 2020, Daiki has been with I&CO Tokyo, where he develops communication strategies and new businesses, focusing on the intersection of companies and society.

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About FIRST CVC（https://www.firstcvc.jp/）

FIRST CVC operates Japan's largest community, comprising business companies, CVCs, VCs, and startups engaged in open innovation and startup investments. As an innovation platform for co-creating new businesses, FIRST CVC conducts large-scale surveys, industry events, and provides organizational setup and business support for CVCs.It also helps startups with business growth and fundraising through collaboration within Japan’s largest CVC network.

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About I&CO（https://iandco.com/ja）

I&CO is a global innovation firm that combines design, data, and technology to create new businesses that transcend traditional frameworks. As a partner for companies, I&CO provides solutions across strategy, design, and incubation to create new business opportunities.

With offices in New York, Tokyo, and Singapore, I&CO has worked on projects for numerous brands, including TOYOTA, UNIQLO, Panasonic, and Amazon Audible. In 2024, I&CO launched I&CO APAC and opened a new office in Singapore.