NEC X Announces Elev X! - Program to Launch Technology Startups and Accelerate Business Growth

Unparalleled venture studio program offers a broad and deep range of world-class technology and innovation expertise

PALO ALTO, Calif., Sept. 14, 2023 (GLOBE NEWSWIRE) -- NEC X, Inc., the pioneering venture studio backed by NEC’s world-class technological innovation and expertise, announced today its new initiative, “Elev X!”. The Elev X! venture studio program is designed to launch new technology startups and accelerate the growth of early-stage startups. The first cohort for the new initiative kicks off September 25 as Elev X! Batch 10 with a focus on agrifood, marketing, public safety, healthcare and more, all leveraging emerging technology.

Since its establishment in 2018, NEC X has been dedicated to launching new businesses, primarily with entrepreneurs and founding teams in the ideation phase under its “Corporate Accelerator Program (CAP),” resulting in the building of over ten startups. During these efforts, NEC X collaborated with ideation-phase entrepreneurs and discovered many pre-seed and seed-stage startups in need of specific technology and expertise. To foster the building of more businesses in a shorter time frame, in its fifth anniversary milestone year, NEC X has broadened the scope of startups it supports from ideation phase to seed stage and beyond, and rebranded the program as Elev X!

Elev X! offers two development tracks: Ignite and Boost. The Elev X! Ignite track is designed for founders in the ideation phase. Here, experienced innovators and researchers collaborate closely, providing hands-on support to turn ideas into viable, scalable products. On the other hand, the Elev X! Boost track is for pre-seed and seed startups, providing product development support from researchers, seed funding, and connections to investors, to accompany and scale business.

“Bringing business ideas to life is our passion, and our goal is to help more founders achieve their dreams. For founders, Elev X! offers everything they need to help get their business off on the right foot and grow to the next level, from day one through to graduation of the program,” said Shintaro Matsumoto, president and CEO of NEC X. “For investors, Elev X! presents startups that are seasoned, ready to launch, and scale fast. In fact, our strong technology capabilities are what really set Elev X! apart from other startup incubators and accelerators.”