Emerging businesses with innovative value propositions offer a myriad of opportunities to solve market problems and attain business growth. As a startup enabler, the Japan External Trade Organization (JETRO) helps Japanese startups in identifying key resources needed for market expansion and product development.

In partnership with JETRO, e27 is working to help connect startups with key players and mentors in the region with the goal of enabling more collaborations among Japanese and Southeast Asian businesses. Specifically, this partnership is a market entry initiative to bring Japanese innovations into key startup ecosystems in the Southeast Asian region, as well as have a deeper understanding of industry trends and strategic opportunities that are unique to these respective ecosystems.

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The project is aimed at startups in various stages of development, from pre-commercialisation, all the way to startups who have launched their solutions to market and are ripe for further market expansion.

In line with this, these entities are keen to customise their respective product and market strategies as they implement their expansion into different territories with their own respective market contexts and regulatory considerations. JETRO-supported companies work with various partners in their expansion strategy. For example, a medical technology company is consulting with medical mentors to understand the health tech market and regulatory landscape in Singapore.

This year, JETRO, together with e27, is working with three leading startups that are seeking strategic business partners and mentors in the Southeast Asian region.

Sustainable alternatives

Times Bridge Management (TBM) developed a breakthrough ecological material that serves as a sustainable and viable alternative to plastic resin called LIMEX. Developed in Japan, LIMEX is a composite material made of over 50% limestone, an abundant resource. Its commercial use is as a plastic or paper alternative, thereby contributing to the reduction of GHG emissions and plastic waste. TBM has also developed a material circulation platform to collect and recycle used materials, which contributes to a circular economic process. Their other product, CirculeX, is a new material that has 50% or more recycled material such as biomass-based or fossil fuel-based resins with LIMEX. This promotes resource circulation and meets diverse customer needs through various applications in packaging, logistics, material handling and building materials.

While the cost of plastic resin has been steadily increasing, and existing plastic alternatives in the market are much more expensive, LIMEX can be more cost-efficient than plastic. LIMEX is economical as it is mainly made from limestone and the price is stable. Apart from its cost competitiveness, LIMEX as a patented technology in over 40 countries around the world also churns out higher quality bags with a more uniform filler dispersion compared to conventional bags with mineral fillers.

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The great thing about LIMEX as a material is that plastic moulding companies do not need to invest in new machinery for manufacturing products using this material. They can instead use their existing moulding technology and machinery. TBM has various global customers, including Indonesia, Vietnam, Thailand, and India. They opted to switch to LIMEX material in their shopping bags due to cost reduction and eco-friendliness. 

The company has since raised almost $200M in funding. Specifically, SK Group agreed on a $123 million capital and business alliance to accelerate the global expansion of LIMEX. TBM is looking for plastic manufacturing partners in the Southeast Asian region where they can supply their LIMEX material as a cheaper and more durable plastic alternative.

Expanding access to fintech solutions

Fintech startup Credit Engine runs an online lending system and automatic debt collection with data-driven optimisation. They offer both standalone and white-labelled software-as-a-service lending and digital debt collection solutions, that can be used by small and medium businesses as well as large enterprises to digitalise loan operations of banks, thereby benefitting from streamlined customer communications and reducing paperwork. 

Credit Engine is a seed stage startup with US$1M funding to date. It is seeking business partners in Singapore as they expand access to its solution that simplifies the online debt application and collection process through digitalisation. Financial and fintech entities who want to partner for outsourcing their non-performing loans through a debt collection system can stand to benefit from Credit Engine’s solutions. The company is also open to mentors, accelerators, VCs and consultants who can provide strategic advice and business linkages in the Southeast Asian region. 

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If you are keen on connecting with any of the startups above, please reach out to Joel@e27.co.

It is e27’s mission to connect startups with the right resources, the right tools, and the right people not only to help them make individual impacts on the community but for the startup ecosystem as a whole to flourish and thrive.

The Japan External Trade Organization provides business support services to companies expanding to Japan. Since its founding in 2003, JETRO has supported more than 15,000 business investment projects and helped over 1,500 companies successfully invest in Japan. As a non-profit organisation, JETRO clients have gained support for their business in the fields of visa, immigration and HR matters, office space; identification of local government subsidies, and tailored market studies, among others.

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Photo by Mikhail Nilov via Pexels

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This article is produced by the e27 team, sponsored by JETRO

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