OIST enters into strategic partnership with the Development Bank of Japan
OIST’s innovation ecosystem boosted by the OIST-Lifetime Ventures Fund
The Okinawa Institute of Science and Technology (“OIST”) and the Development Bank of Japan (“DBJ”) today announced a new framework agreement to support venture creation at OIST and the translation of OIST’s research into products and services available to society. The agreement complements a simultaneous strategic investment by DBJ in the OIST-Lifetime Ventures Fund, a new fund launched in April 2022.
As part of the agreement, OIST and DBJ will closely cooperate, with DBJ also mobilizing its expertise and networks to catalyze the emergence of entrepreneurs and startups at OIST.
At the signing ceremony, Peter Gruss, President and CEO of OIST, highlighted the strategic importance of fostering innovation and startup culture in Japan to drive its economy, adding that “we are pleased that DBJ decided to support OIST and the OIST-Lifetime Ventures Fund, raising interest in what OIST can do in Okinawa and Japan”. Katsushi Kitajo, Managing Executive Officer and Board Member of DBJ said that “DBJ supports the industrial development of Japan by the vision of designing its future with financial expertise”, adding that OIST has the potential to “solve global issues and help create new industries in Japan and the world”.
Along DBJ’s investment in the OIST-Lifetime Ventures Fund, 16 prominent figures from the global corporate sector closely connected to Japan (the “Friends of OIST”) are participating in the latest closing of the OIST-Lifetime Ventures Fund through a pooling vehicle. The participants will donate part of their returns to OIST, thus providing OIST with additional financial support. This initiative is led by Tatsuo Kawasaki, a member of OIST’s Board of Councilors, who envisions it as a step towards a wider philanthropic initiative that connects OIST to corporate leaders.
“We are extremely grateful for the patronage of the OIST-Lifetime Ventures Fund by the founding Friends of OIST,” says Gil Granot-Mayer, Executive Vice President for Technology Development and Innovation at OIST. “In only a few years, OIST has laid the basis to become a key player in the innovation ecosystem of the region. The personal support of corporate leaders who share the vision of OIST for Japan and the world is a strong signal of what OIST has achieved in this area and of its strong potential.”
The Okinawa Institute of Science and Technology (OIST) is a graduate university that conducts outstanding research and education in science and technology, with global recognition. A truly cross-disciplinary research environment with world-class facilities, there are no barriers between scientific fields and scientists are encouraged to cross over and collaborate in new branches of knowledge.
The Technology Development and Innovation Center (TDIC) at OIST utilizes and leverages the unique resources of OIST to promote innovation, entrepreneurship, and the development of science into practical and commercial applications that have social and economic benefits locally and across the globe.