Keio Innovation Initiative (KII)

2020/10/30

Keio Innovation Initiative (KII) is the venture capital firm of Keio University. It was established on December 17, 2015, with the mission of creating new industries and contributing to social development by investing in startups that create innovative new businesses utilizing the university's achievements.

It was established with a capital of 50 million yen and a capital reserve of 50 million yen, with Keio Academic Enterprise Co., Ltd., an affiliate of Keio University, and Nomura Holdings, Inc. contributing 80% and 20%, respectively. Kotaro Yamagishi (1999, Faculty of Economics), co-founder of GREE, Inc., has been appointed as President and CEO.

Keio University has long been actively involved in creating venture companies as part of its exit strategy for research outcomes. It has already supported Keio University-launched ventures, selecting from numerous domestic and international patents originating from places like the School of Medicine, the Faculty of Science and Technology, and the Shonan Fujisawa Campus (SFC), leading to the listing of several companies. With the establishment of KII, the university aims to further promote the development of venture companies that utilize its research outcomes and contribute to society. In addition to conventional exit strategies for research outcomes, such as joint research with large corporations and licensing of intellectual property, the university seeks to contribute to society by fostering its own venture companies that leverage its research achievements.

As for KII's specific activities, it collaborates with the Office for Research Coordination and Administration, which oversees industry-academia-government collaboration at Keio University, to promptly identify commercializable seeds within the university. Depending on the content, it promotes the development of university-launched ventures by establishing venture companies, securing public funding, coordinating joint research and licensing with external venture companies, and making investments through its funds.

The first fund of approximately 4.5 billion yen specialized in investing in the fields of medicine, healthcare, and IT—areas where investment returns can be expected and Keio University's strengths can be leveraged—and invested in 19 companies. The second fund, amounting to approximately 6 billion yen, also primarily targets startups that utilize research outcomes to tackle social innovation through digital technology and solve issues in areas such as medicine and health. Investments are planned for about 20 to 25 companies, focusing on the seed and early stages, and extending to the later stages.

KII states that it will continue to promote the social implementation of outstanding research outcomes from Japan's leading research institutions, including universities, through investment in and development of startups, thereby playing a part in contributing to society. At the same time, as a venture capital fund, it will strive to secure high profitability and build a sustainable innovation ecosystem (a process of creating new technologies and ideas using scientific knowledge, making them economically and socially valuable, and satisfying social needs).

(Masaaki Sato, President, Keio Academic Enterprise Co., Ltd., and Administrative Project Director, Jukukan-kyoku (Keio Corporate Administration), Keio University)