M-Lab Open Innovation Platform Sustainability Challenges Event
The Client
A consortium of 14 leading Japanese corporations, including companies such as Mitsubishi Corporation (Americas), ENEOS, Yazaki Corporation, Tokio Marine Group, Mitsubishi HC Capital America, Inc., Nitto Denko Corporation, and Mitsubishi Research Institute.
The Challenge
M-Lab is an open innovation platform that brings together a consortium of 14 Japanese corporations from diverse industries. While this collaborative approach offers significant advantages by allowing members to coordinate and advance innovations with startups and technology partners, it also presents challenges. Each corporation has distinct strategic goals and objectives, making it difficult to identify startups that align with the interests of most members.
To address this, M-Lab sought to scout and select sustainability-focused startups with the potential to provide strategic value to multiple member companies through collaboration, partnership, or investment. In the spirit of open innovation, M-Lab wanted to also organized a public event to showcase their final selection of potential partners.
The Solution
From June 2024 to October 2024, we structured the project into two distinct phases to ensure alignment and deliver maximum value to the consortium.
Phase One: We worked closely with all 14 member companies to understand and align their strategic priorities. Through in-depth discussions and collaborative workshops, we identified common themes and areas of interest. Additionally, we conducted comprehensive market research to uncover emerging technologies and trends in the climate tech sector. This foundational phase ensured that our recommendations would be relevant and impactful across the consortium.
Phase Two: Using the insights from Phase One, we executed an extensive scouting process, evaluating over 100 startups across various climate tech categories. Our goal was to identify innovative solutions with strong potential for strategic collaboration, partnership, or investment. We presented the most promising startups for review, providing the consortium with a curated selection of opportunities tailored to their shared objectives.
The Outcome
The project concluded with two key outcomes:
Private Meetings: We facilitated private meetings between its M-Lab companies and the top startups identified through the scouting process. These targeted discussions enabled the corporations to explore potential collaborations, partnerships, and investment opportunities directly with the most promising innovators.
Public Event: To further promote open innovation, we supported M-Lab in organizing the Sustainability Challenges Event, a public event that featured thought-provoking panels and startup presentations. Duncan Carlson from Lowercarbon Capital shared valuable insights on sustainability innovation, while startups including Arbor Energy, Carbon Direct, Marathon Fusion, and Gross-Wen Technologies presented their groundbreaking solutions. The event brought together over 75 attendees, fostering meaningful connections and sparking dialogue on sustainability challenges.
Following the event’s success, M-Lab continues discussions with several of the participating startups, exploring opportunities to formalize partnerships or make strategic investments.
