Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: Tsutomu Tannowa) today announced that it has entered into a materials sector-based partnership agreement with Plug and Play, LLC (Founder & CEO: Saeed Amidi), a Silicon Valley-based firm that supports the growth of startups with innovative technologies and ideas.
Operating on a global scale, Plug and Play is a world-leading venture capital firm and startup accelerator, working alongside major companies to support startups that possess innovative technologies and ideas. Since its establishment in 2006, the company has supported more than 2,000 startups, providing more than $7 billion in financing and helping to turn out numerous unicorn companies*.
Mitsui Chemicals is touting the pursuit of innovation as a basic strategy under its long-term business plan. This includes R&D and the development of new businesses, through which Mitsui Chemicals has been making efforts focused on the basic policies of promoting customer-driven innovations and strengthening its capabilities to provide solutions.
By now forming a partnership agreement with Plug and Play, Mitsui Chemicals is set to gain more points of contact with both Japanese and overseas startups, bringing about more chances to share technologies, products and services with these startups. This is intended to support the early commercialization and growth of startups while also strengthening Mitsui Chemicals’ existing businesses and accelerating the company’s creation of new businesses.
Going forward, Mitsui Chemicals intends to utilize Plug and Play’s network to its fullest potential as it pursues speedy innovation. Mitsui Chemicals aims through this to further strengthen its existing businesses, as well as develop new ones, in a continued effort to help resolve social issues.
*The term “unicorn companies” refers to unlisted venture firms with a value of over $1 billion.