IISc’s FSID Enters Into a Strategic Partnership with UMI to Spur Global Innovation
Through these concerted efforts, UMI and FSID aspire to contribute to the advancement of both Japan and India by harnessing the collective strengths of these nations. This strategic alliance seeks to position FSID as a leading platform for the inception of new businesses within Japan’s materials and chemical industries, further propelling innovation and growth.
UMI is a venture capital firm specializing in the materials and chemical industries and has been actively working to enhance its global presence through UMI No. 3 Investment Limited Partnership, formed in October 2022. The collaboration between FSID and UMI signifies a pivotal step towards fostering synergy between Japan’s materials and chemical industries and India’s burgeoning startup ecosystem and economy.
About FSID
The Foundation for Science, Innovation and Development (FSID) is a section 8 company set up by the Indian Institute of Science (IISc). IISc is India’s premier research institute that has contributed in a significant way towards the scientific and technological growth of the country as well as producing outstanding intellectuals to manage Industries, Business houses, and Institutions. FSID was founded to use this incredible repository, world-class infrastructure, and talent to help business enterprises the economy, and the nation. FSID has three divisions, CORE – which engages with large corporations in collaborative research, TIME2 – which works with mid-sized enterprises to put them on a disruptive growth path via innovation, and STEM – which incubates deep science and technology startups.
Indian Institute of Science (IISc)
Established in 1909 with the support of Jamsetji Nusserwanji Tata, the founder of the Tata conglomerate, IISc is a public, deemed, research university for higher education and research in science, engineering, design, and management. and is ranked among the most prestigious academic institutions in India. Foundation for Science, Innovation, and Development (FSID) is a section 8 company established by IISc and acts as a point of contact with industry and conducts various incubation initiatives aimed at the social implementation of science and technology. https://iisc.ac.
About Universal Materials Incubator Co., Ltd. (UMI)
Head Office: Konwa Building 2F, 1-12-22 Tsukiji, Chuo Ward, Tokyo
Representative Director: Shosuke Kiba
Established: October 6, 2015
UMI invests in outstanding new technologies and businesses in the fields of materials and chemicals that form the foundations for future industry, originating from both Japanese companies and academia, based on the vision of “Strengthening Japan’s engineering capabilities and cultivating an industry structure that can compete in the global arena, by fostering outstanding material/chemical companies.”
About UMI III Investment Limited Partnership
Head Office: Konwa Building 2F, 1-12-22 Tsukiji, Chuo Ward, Tokyo
Administrative member: Universal Materials Incubator Co., Ltd.
Formed: October 7, 2022
Total commitment amount: JPY 8.51 billion
Goal of formation: To invest in and foster venture companies in the materials and chemical industries
Investors:14 materials/chemical companies listed on the 1st Section of the Tokyo Stock Exchange and two financial institutions
