EAST Japan Railway (JR East) has established JRE Ventures, a corporate venture capital company that will invest in start-up companies mainly operating in southeast Asia.
Based in Singapore, the company will promote collaboration between start-ups and the JR East Group, offering up to Yen 5bn ($US 33.3m) to support start-ups with innovative technologies and business models relating to “lifestyle solutions that enrich customers’ lives.”
“By co-creating with overseas startups in areas such as retail tech, we will create business synergies for the JR East Group and aim to create a “Beyond Stations concept” that connects stations with the lives of customers and people along the railway lines,” JR East says. “We will accelerate this process, further expand the possibilities of stations, and create new customer experience value for the JR East Group that fuses the real and digital worlds.”
JR East says the prospects and the business environment for start-ups is improving in southeast Asia. It says its start-up partners will have the opportunity to cooperate in various fields, including the Takanawa Gateway City project, and its co-working space, One&Co. In addition, JR East has signed a memorandum of cooperation with the National University of Singapore’s incubation space to access companies working here. It also plans to participate in start-up networks owned by groups such as Block71.
The railway says it will initially focus on start-ups that have developed technology and business relating to advertising, retail and logistics. “By utilising generative AI, Extended Reality (XR), and network technology, we will enhance the value of real outdoor media such as transport advertising and transform it into an opportunity to connect with customers one-to-one,” JR East says.
In addition, the railway says it is aiming to innovate logistics processes by harnessing simulation technology to optimise delivery routes as well as warehouse automation technology, and last-mile logistics technology.
“Through these initiatives, we will contribute to the expansion of the start-up ecosystem in both Japan and Singapore,” JR East says.
The post JR East to boost collaboration with southeast Asian start-ups appeared first on International Railway Journal.
