ICMG, a corporate innovation accelerator providing a myriad of services for enterprises, leverages their wide network of strategic open innovation partners in order to help alleviate the business pain points faced by many corporates. Through their leadership, innovation, and execution strategies, ICMG works towards co-creation of purposeful innovation for its many partners across the tech spectrum.
At the Echelon Asia Summit 2019 held in Singapore Expo last May 23-24, ICMG participated in the FORGE corporate-startup innovation programme to seek possible innovative collaborations for respective ICMG partners, TEPCO i-Frontiers (TiF), and Greenway Grid Global (GGG).
TEPCO i-Frontiers is a joint venture established by Tokyo Electric Power Company Energy Partner (TEPCO EP) and ICMG. It focuses on business incubation in areas such as monitoring and security, health care, home automation, home services, communication, entertainment, and more. The joint venture between TEPCO EP and ICMG that culminated in the creation of TiF is prompted by the need to trigger acceleration in business incubation
Greenway Grid Global, on the other hand, is established by Tokyo Electric Power Company Power Grid, Inc., CHUBU Electric Power Co., Inc., and ICMG Partners as a joint Venture in Singapore. GGG acts as a vehicle for the 3 companies to invest and operate overseas power transmission and distribution business and next-generation infrastructure business, and incubate new business, as well as to nurture global leaders.
With ICMG’s strengths in proposing cutting-edge solutions to clients, they’ve been working extensively together with TEPCO EP and GGG as a business partner, not only providing valuable insights to address business issues, but as well as bridging the transnational gap between multiple markets in the region and Japan.
Startups that participated in the FORGE business matching with ICMG
Through FORGE, ICMG represented the two companies as they seek various forms of innovations from the pool of emerging startups present at this years Echelon Asia Summit. The eight startups: SenseHub, ZiO Health, JupViec, VersaFleet, DRVR, MSA GREENTECH Pte Ltd, Hydroleap Pte Ltd and Nodis were carefully curated after a rigorous selection process, and therefore, have been deemed fit to represent the innovation ideals that reflect the ICMG brand.
The business matching activity that transpired between the eight respective startups and ICMG at Echelon have made important progress as both parties are in talks to initiate collaborative pursuits in the future. Through ICMG, the two participating corporates, namely TEPCO i-Frontiers, and Greenway Grid Global, have already expressed interest in moving forward with some of the startups that spoke with ICMG at FORGE. This allows startups with cutting-edge ideas to tap into ICMG’s network of partners, explore and understand the Japan market better, and breed more innovations that can flourish in a transnational environment.
ICMG as a catalyst in bridging Japan and Southeast Asia
With ICMG’s efforts to accelerate innovation in many of its corporate partners, one great outcome is how ICMG connects Japanese Multinational Companies (MNCs) with budding Southeast Asian startups in need of corporate support, whether through investment or long-term partnerships. Conversely, Japan MNCs that are keen on finding modern solutions to age-old problems can tap on ICMG’s problem-solving capacities and co-explore possible ventures that will lead to further innovations—especially ones that are borne out of collaborations with young startups.
This is the beauty of ICMG’s participation in the FORGE corporate-startup innovation: it empowers and emboldens multiple entities to grow and flourish under the umbrella of ICMG’s open innovation ecosystem. More importantly, it encourages cross-market and cross-industry learnings especially in the context of sustainable growth.
Ultimately, ICMG’s business-building services that range from strategic building to business model construction and everything in between, serves as a critical vehicle that can drive corporates to innovation breakthroughs that can redefine business as we know it.