Creating Innovation through Collaborations and Alliances
- Development of OMY SDGs ACT5
- Tokyo Marunouchi Innovation Platform to Create Innovation through Industry, Government, Academia, and Local Neighborhoods Leveraging Urban Resources
- Micro STARs Dev., a Pioneering Project to Rebuild the Yurakucho Area
- Start of Joint Research to Promote Open Innovation with Yokohama National University
- Yokohama City University Minatomirai Satellite Campus Open at NANA Lv. Academia-Industry Innovation Base
- Full-Scale Launch of Demonstration Tests at Umekita Sotoniwa Square
- Creating New Business through Investment in Startup Companies and Venture Capital
- Mitsubishi Estate Accelerator Program Held to Create New Urban Visions
Development of OMY SDGs ACT5
The OMY SDGs ACT5 Executive Committee, composed of Mitsubishi Estate, The Norinchukin Bank, Nikkei Inc., Nikkei Business Publications, Inc., and others launched OMY SDGs ACT5 in fiscal 2020 to implement a variety of SDG-related activities in the Otemachi, Marunouchi, Yurakucho area, where approximately 280,000 workers and 4,300 companies are congregated. The project promotes corporate initiatives centered on the five SDG-related action themes, which are sustainable food, climate change and resource recycling, well-being, diversity & inclusion, and communication. The participating companies work together to verify the synergistic effects of corporate collaborations as they aim to build a model city of SDGs and drive social innovation.
In fiscal 2021, which is the second year of the project, with Mitsubishi Research Institute, Inc. as a new member of the Executive Committee, the team is working to launch an app that grants ACT5 Member Points for SDGs-related actions by individuals carried out in the Otemachi, Marunouchi, Yurakucho area. Using the app, individuals will be able to earn points for bringing their own bottles or purchasing locally produced groceries. Accumulated points can be exchanged for sustainable products or donated to organizations that contribute to achieving the SDGs. By continuously encouraging individuals to change their behavior through this initiative, the project aims to create a symbiosis triggering SDGs-related actions which lead to the next steps forward in this area.
Fiscal 2020 Results
- Actions: Developed 35 actions linked to ACT5
- Partners: Realized a partnership of 45 companies (not including the companies on the Executive Committee)
- Participants: A total of 8,000 people from throughout Japan participated through seamless utilization of virtual and in-person participation in response to the COVID-19 pandemic.
Tokyo Marunouchi Innovation Platform to Create Innovation through Industry, Government, Academia, and Local Neighborhoods Leveraging Urban Resources
The Association for Creating Sustainability in Urban Development of the Otemachi, Marunouchi, and Yurakucho Districts ("Ecozzeria Association") established the Tokyo Marunouchi Innovation Platform (TMIP) in August 2019 to support innovation creation to solve social issues through collaboration between industry, government, academia, and local neighborhoods and deliver them to the global market.
TMIP is a member-based organization in which diverse stakeholders from industry, government, academia, and local neighborhoods participate and collaborate. Maximizing the resources and capabilities possessed by member companies and the assets of Tokyo's Otemachi, Marunouchi, and Yurakucho neighborhoods (collectively known as the Otemachi, Marunouchi, Yurakucho area), it provides support for the business creation process from the formation of teams for collaboration through validation of idea feasibility. The goal is the creation of global innovation and businesses to solve social issues that cannot be solved by one company alone.
TMIP creates an environment that makes it easier to achieve the projects of member companies by hosting workshops and events to form an interactive community of members and by implementing initiatives to ease regulations and other measures. Working with partners, including innovation facilities and groups, venture capital, universities and research institutions, and government bodies in the Otemachi, Marunouchi, Yurakucho area as well as advisors in possession of cutting-edge expertise, TMIP is providing comprehensive support for innovation creation.
Primary Initiatives in Fiscal 2020
Establishment of Marunouchi City DX Partners to Promote Urban Digital Transformation to Adapt to the "New Normal"
In January 2021, in collaboration with Tokyo Marunouchi Innovation Platform (TMIP), Mitsubishi Estate established Marunouchi City DX Partners, a consortium aimed at enhancing urban value through digital transformation (DX). As people's lifestyles and values change due to the COVID-19 pandemic, Marunouchi City DX Partners will develop urban DX services adapted for the "new normal" as City DX projects using the Marunouchi area (Otemachi, Marunouchi, Yurakucho) as a testing site and showcase for the implementation of digitization.
Under the Marunouchi City DX Partners consortium, TMIP will provide overall planning and operational support plus coordination to enable participating companies with unresolved issues and ideas to be realized to work on their projects in a consistent manner. All the while, Mitsubishi Estate will provide the sites for demonstration tests in a real urban space. In addition, Deloitte Digital, the digital consulting team of Deloitte Tohmatsu Consulting LLC, and Nomura Research Institute, Ltd., will also be involved as City DX advisors while startup partners will provide solution support depending on individual projects.
Two City DX projects were already launched in fiscal 2020, with an analysis of real behavioral data from visitors to the neighborhood and verification of visions for a new city in a digital space underway. The aim is to create multiple projects and implement them as regular services by March 2022.
Micro STARs Dev., a Pioneering Project to Rebuild the Yurakucho Area
Mitsubishi Estate launched Micro STARs Dev., a pioneering project aimed at rebuilding the Yurakucho area, on December 2, 2019. The Yurakucho area is a Japanese business center, but is also a place where unique personalities are drawn together through its diverse commercial, cultural, and artistic functions. Based on the concept that "people make the city shine," the project places human activities at the center of urban development and cultivates diverse people, ideas, experiences, and products, as it aims to create a framework for the stars of the next generation and achieve synergies with existing initiatives in the area. Through the project, Mitsubishi Estate will continue striving toward a new urban development model for the 2020s and beyond.
The Yurakucho Micro Food & Idea Market and the Yurakucho SAAI Wonder Working Community are central venues to this project. With its design based on the concept of "a market where curiosity meets up," the Yurakucho Micro Food & Idea Market is multi-functional market that anyone can visit. In addition to having retail and display areas and a stage where diverse events can be held, the market also provides a deli-style menu using ingredients fresh from various regional areas shipped via Sanchi-Chokuso Ainoribin, a joint food-logistics system.
The Yurakucho SAAI Wonder Working Community is a working community that is mainly for "intrepreneurs" (in-house entrepreneurs). It aims to foster individuality that is not restricted by conventional frameworks and serve as a hub where individuals can thrive in an era of side jobs and businesses.
Start of Joint Research to Promote Open Innovation with Yokohama National University
In April 2020, Mitsubishi Estate signed a joint research agreement with the Co-Innovation Laboratory at Yokohama National University, which conducts research on promoting open innovation and the creation of new industries and supports and trains entrepreneurs at the university. Mitsubishi Estate began collaborative efforts with the goal of promoting open innovation and forming a business ecosystem in Yokohama.
With the goal of turning Yokohama into a city of innovation, Mitsubishi Estate has been working with the City of Yokohama to operate YOXO BOX, a base for supporting venture corporations. The company also runs on its own YOXO BOX OFFICE, a base of activities for companies and entrepreneurs who will serve as the new leaders for Yokohama as an innovation hub.
A student venture corporation from Yokohama National University which performed very well in the 2019 YNU Business Plan Contest began working on expanding their business using YOXO BOX OFFICE as their base of operations.
Building on this joint research agreement, Mitsubishi Estate further supports the ideas of young entrepreneurs and plans to accelerate the pace of open innovation.
YOXO BOX exterior view
YOXO BOX interior view
Yokohama City University Minatomirai Satellite Campus Open at NANA Lv. Academia-Industry Innovation Base
Run by Mitsubishi Estate, NANA Lv. ("7th level") on the seventh floor of the Yokohama Landmark Tower is a project space for corporations and other organizations collaborating with Yokohama City University. The aim of the space is to help turn Yokohama into a city of innovation by producing many innovators, venture corporations, and new businesses.
The Yokohama City University Minatomirai Satellite Campus opened inside NANA Lv. in April 2020. The goal of the satellite campus is to engage in data science research, provide graduate education, promote interaction between researchers and project space users, and develop joint research through collaboration between the university and corporations, bringing about innovation.
With the support of the City of Yokohama Economic Affairs Bureau, Mitsubishi Estate will work with Yokohama City University to encourage corporate innovation.
Full-Scale Launch of Demonstration Tests at Umekita Sotoniwa Square
The joint venture of nine companies*1 led by Mitsubishi Estate for the Umekita 2nd Project will conduct advance trials for future urban development in cooperation with local communities, government, and private-sector companies at Umekita Sotoniwa Square, an outdoor demonstration test site in Kita-ku, Osaka.
The joint venture is planning to manage and operate the urban park at the Umekita 2nd Project (tentative name), a redevelopment project in front of Osaka Station, based on the concept of fusing greenery and innovation. The joint venture has been selected as a partner*2 for the Pioneering Project for Greening of the Umekita Area ahead of the advance opening of the community in 2024, and will be responsible for operating Umekita Sotoniwa Square for 1,000 days up until March 31, 2023.
As part of the trial, Mitsubishi Estate and its partners will work on preparatory activities for park and area management to create a cutting-edge, attractive park area, which is the focus of the Umekita 2nd Project. We will also deepen our collaboration with diverse players with the aim of developing smart cities based on public-private partnerships using cutting-edge technology and the utilization of public, open space adapted to the new normal.
In the Umekita 2nd Project, the concept of greenery goes beyond simply ensuring that there are parks and green spaces. Rather, it is about building new relationships among the city, its inhabitants, nature, and the environment, and thereby developing an attractive urban area for the future. The joint venture will utilize the results of the trial to create Osaka MIDORI LIFE ("Osaka Green Life"), an innovative life model by creating an urban environment that is fused with nature and spaces and opportunities where diverse people can engage in new activities.
- Mitsubishi Estate Co., Ltd., Osaka Gas Urban Development Co., Ltd., ORIX Real Estate Corporation, Kanden Realty & Development Co., Ltd., Sekisui House, Ltd., Takenaka Corporation, Hankyu Corporation, Mitsubishi Estate Residence Co., Ltd., Umekita Development Specific Purpose Company (SPC funded by Obayashi Corporation)
- Composed of the eight companies in the joint venture, excluding Mitsubishi Estate Residence, plus Hibiya Amenis Corporation
Demonstration test site for greenery
Utilization of open space
Creating New Business through Investment in Startup Companies and Venture Capital
In order to drive business model innovation for further growth in the 2020s, Mitsubishi Estate aims to improve existing businesses while moving forward with various initiatives to move into new growth areas.
As part of this effort, Mitsubishi Estate has been aggressively investing in start-up and venture capital companies both in Japan and overseas with the aim of delving into new businesses and creating synergies with existing ones. In addition to investing in fields that are directly connected to real estate, the company is also investing in diverse sectors, including agriculture, renewable energy, live content, tourism, and healthcare. The Business Creation Department takes a central role in these efforts.
The company also utilizes its Corporate Accelerator Program to solicit ideas from venture companies with the goal of creating new business models to combine with our business assets as well as continuing the employee new business plan submission program.
These initiatives have resulted in over 10 billion yen in funding for creating new business. Moving forward, Mitsubishi Estate will continue to pursue new business opportunities in a wide range of sectors and cultivate future growth while seeking innovations to its business model and creating new value.
Mitsubishi Estate Accelerator Program Held to Create New Urban Visions
Mitsubishi Estate held the Mitsubishi Estate Accelerator Program again in fiscal 2020 aimed at the creation of new business through open innovation with start-ups. The program has been held each year since 2017 with the objective of reinventing the Mitsubishi Estate Group's business model. Mitsubishi Estate is the sponsor of the program, which provides start-ups with management resources such as funding, technology, and sales channels, and solicits business proposals from start-ups.
In fiscal 2020, given the current situation which called for rapid social and behavioral change, Mitsubishi Estate looked for start-ups that will be partners in facing challenges and proposing new urban visions. Eight companies were selected out of 110 business plan applications.
So far, a total of 24 companies out of approximately 650 applications have been selected under the Accelerator Program, including the current fiscal year. Going forward, Mitsubishi Estate will continue to deepen its co-creation with a diverse array of start-ups. It will concentrate efforts not only on strengthening competitiveness in existing business domains, but also on non-asset businesses and development of new business focusing on B2C or B2B2C.
See the following for more details about the eight companies selected in fiscal 2020.