Press

CHTF2023 achieved its largest scale ever, featuring 4,925 companies participating and exhibiting from 105 countries and regions worldwide. Our company conducted live demonstrations of TIISA® insulation paint, renowned for its effectiveness in energy conservation for buildings and factory facilities. The product attracted attention at the venue by showcasing a significantly superior insulation capability compared to other existing insulation paints.

We were honored to represent Japan as one of the ten innovative startups at the ‘Rock Thailand #05 Co-Creation of Japan-Thailand: Empowering Growth in ASEAN’ event, meticulously organized by the Embassy of Japan in Thailand and JETRO Bangkok. This event served as a dynamic forum for collaboration, uniting Japanese and Thai entrepreneurial spirits.

Post-event, we had the unique opportunity to engage in meaningful networking sessions with executives from prominent Thai conglomerates, further solidifying our connections within the business landscape. Rock Thailand, now in its fifth edition since its inception in 2019, has consistently proven to be an invaluable platform for fostering international partnerships.

The significance of the event was underscored by the presence and insights shared by Minister of Economy, Trade, and Industry Yasutoshi Nishimura. His emphasis on the pivotal role played by startups with deep tech and innovative ideas resonated, highlighting their critical contribution to steering the growth of the next era.

The commitment of the Japanese government to actively cultivate collaboration between Japanese startups and the ASEAN economic community was evident throughout the event. This dedication reinforces the importance of international partnerships and underscores the collective efforts to drive innovation and economic development in the region.

Our participation in ‘Rock Thailand #05’ reflects not only our dedication to innovation and growth but also our eagerness to contribute to the vibrant landscape of global collaboration, laying the groundwork for enduring partnerships and shared success in the ASEAN region.

Organized by Enterprise Singapore (EnterpriseSG), SLINGSHOT is a global deep tech startup pitch contest that seeks to discover startups with innovative and cutting-edge technologies, enabling them to scale up from Singapore. Our commitment to innovative technology solutions, particularly in the areas of energy-efficient appliances, high-performance buildings, and net-zero energy buildings, has been highly appreciated.

In the finals, the top 50 selected after rigorous evaluation by over 350 international judges had the opportunity to present to a judging panel consisting of internationally renowned venture firms. The panel included Carmen Yuen, General Partner at Vertex Ventures; Eduardo Saverin, Co-founder and Co-CEO of B Capital Group; Magnus Grimeland, Founder and CEO of Antler; and　Kuo-Yi Lim, Co-founder and Managing Partner at Monk’s Hill Ventures. The Grand Final’s judging panel also featured Peter Ong, Chairman of Enterprise Singapore.

As the Grand Winner, we have been awarded a grant exceeding $150,000 (20,000 Singapore Dollars). With this victory, we are eager to actively pursue business development and partnerships in Singapore and Southeast Asia.

Thermalytica Inc. secures a spot in Luxembourg’s esteemed Fit 4 Start acceleration program, launched by the Luxembourg Ministry of the Economy in 2015. Notably, Thermalytica marks a milestone as the first-ever Japanese startup selected for this prestigious program. Leveraging Fit 4 Start’s grant system, Thermalytica is poised to receive funding of up to €150,000 (approximately 23 million JPY), providing flexibility for allocation across diverse activities, including product development and marketing.

Looking forward, Thermalytica is gearing up for active participation in individual coaching sessions and workshops led by seasoned entrepreneurs and industry experts over the next six months, commencing from January of the upcoming year. The primary objectives remain focused on exploring business development opportunities, assessing partnership potential, and establishing access to a collaborative environment within the vibrant startup community of the EU, commencing from Luxembourg.

Being chosen for the ‘IPAS2023’ Intellectual Property Acceleration Program is a great honor, signifying our commitment to innovation and growth. Organized by the Japan Patent Office, this program is specifically designed to accelerate the development of startups, focusing on both business and intellectual property dimensions. Our selection reflects the recognition of our potential to thrive in these critical areas.

Throughout the course of this program, we are dedicated to crafting and implementing a robust intellectual property strategy that aligns seamlessly with our overall growth objectives. The collaboration and guidance provided by the Japan Patent Office will undoubtedly play a pivotal role in propelling us forward, and we look forward to the valuable insights and support this program promises to deliver.

We (Thermalytica Inc) have been selected for the 2023 Ibaraki Prefecture “Venture Business Growth Promotion Project,” facilitated by the CIC Institute. This initiative aims to nurture venture companies capable of significant business expansion, including achieving milestones such as IPOs or M&As. Leveraging the strengths of Ibaraki Prefecture’s research institutions, particularly in the promising field of Deep Tech, the project provides support tailored to venture companies, anticipating substantial future growth. As a selected participant, we stand to strengthen in the following ways:

Mentoring and Accompanying Support

Specialized Seminars

Matching Events Implementation

Tsukuba City stands at the forefront of the Smart City movement, actively pursuing the realization of its visionary ‘Tsukuba Super Science City.’ The commitment involves tackling local challenges through trials that leverage cutting-edge technologies and pioneering ideas. Despite tough competition, our proposal for the support project excelled, earning one of the five spots among the 21 nationwide applications. Notably, our proposal received recognition for its outstanding and innovative concept, ultimately securing the Startup Award.

With the endorsement and support of Tsukuba City, we are set to embark on the implementation of validation tests (PoC) for TIISA^® insulation paint designed for residential use. This initiative aligns with our overarching goal of contributing to the creation of a decarbonized society, placing a strategic emphasis on ‘Building a Decarbonized Society with Super Insulation Material TIISA^®.

This recognition is a testament to our commitment to innovation and sustainability, and we eagerly anticipate the positive impact our endeavors will have on advancing the goals of Tsukuba Smart City vision.

With the recommendation of the Luxembourg Trade and Investment Office, we participated as an exhibitor at the largest Startup Tech Event in Luxembourg, “ICT SPRING,” held on June 29th and 30th. Investors and companies from Europe and around the world have shown significant interest in our efforts towards carbon footprint reduction. During The Mastermind Challenge, held alongside the event, we received the evaluation of being the Second Place (Top in Asia) among the startups that participated from various countries worldwide.
The key focus areas of this event include sustainable growth to promote transformation, finance and technology, cyber and quantum computing, big data and cloud, health technology, Web3, and AI.

Thermalytica has been selected by the J-Startup program, a startup incubation support program promoted by the Ministry of Economy, Trade and Industry.

J-Startup, launched in June 2018, is a program aimed at creating globally successful startups. It selects companies with potential based on recommendations from external experts such as accomplished venture capitalists and executives of large companies in charge of new businesses. The program receives support from both government agencies and private J-Startup supporters, who provide assistance to the chosen companies. The Ministry of Economy, Trade and Industry, the Japan External Trade Organization (JETRO), and the New Energy and Industrial Technology Development Organization (NEDO) are responsible for managing the program.

At Thermalytica, we aim to solve the universal issues of “global warming” and the “energy crisis” as part of our mission, by utilizing the powerful capabilities of TIISA®.

March 10, 2023 15:30

Thermalytica Inc., a startup based in Tsukuba City that develops unconventional thermal insulation material, raised JPY 112.5 million in Series A funding on March 10, 2023. The lead investor was KSP Inc. (based in Kawasaki City), and existing shareholder National Institute for Materials Science (NIMS) and new shareholder Tsukuba Center Inc. (based in Tsukuba City) also participated in the funding. Thermalytica aims to establish mass production technology and expand its business, including overseas markets.

Thermalytica CTO Dr. Rudder Wu

TIISA, the thermal insulation material developed by Thermalytica, is a type of aerogel made from silicon oxide. Its raw material and manufacturing costs are much lower than those of conventional aerogels, and it has fluidity that makes it easier to utilize. It is an ideal material for low-cost storage of liquefied energy sources such as liquid hydrogen, liquid ammonia, and LNG. It is also in strong inquiries for use as a fire retardant for rechargeable battery cells and as a thermal conductivity reducer for polyurethane.

Kazuo Konuma, CEO of Thermalytica, expresses his appreciation by saying, “Ever since my time at NIMS collaborating with external partners, I have been working towards social implementation, and with the generous assistance of many, we have successfully achieved ideal equity finance.” Dr. Rudder Wu, Founder and CTO of Thermatica, renews his commitment to “spread TIISA not only in Japan where I live, but also in other countries and regions around the world, including Taiwan where I was born, and North America and Europe where I grew up.”

Tomohiro Otsuki from KSP (Lead investor) said, “We met Thermalytica through the support program “Kawasaki Deep Tech Accelerator” in Kawasaki City. Starting with Thermalytica, our NextG Investment Limited Partnership will provide strong support for deep tech ventures, including life sciences.” The partnership, led by Peptidream founder Norikazu Kubota, is still seeking LP investors.

◆Thermalytica

Company name: Thermalytica Inc.
Business: Development and consulting of thermal management materials
Establishment: April 2021
Representative: Kazuo Konuma
Location: 3-13 Sakura, Tsukuba, Ibaraki 305-0003, Japan (in National Institute for Materials Science)
URL： https://thermalytica.com/

◆KSP

Company Name: KSP Inc.
Business: Office/Laboratory rental, investment fund management, business
Establishment: December 1986
Representative: Kiichi Kubota
Address: W304, 3-2-1, Sakado, Takatsu Dist., Kawasaki, Kanagawa, 2130012, Japan
URL： https://www.ksp.co.jp/
Contact: t-otsuki@ksp.or.jp, KSP Otsuki

At JAXA’s booth in the ISIEX, Japan’s largest exhibition specializing in space-related businesses, we presented our proprietary thermal insulation material TIISA. TIISA possesses exceptional thermal insulation property and durability properties that make it ideal for utilize in space. The material can be easily transported in a compact state and expanded on-site for use. We are conducting joint development with JAXA as it is expected to be a useful material for space development such as the moon and Mars. Our presentation at the JAXA booth at ISIEX was a valuable opportunity to demonstrate our TIISA technology to those involved in space-related businesses.

This award is Tsukuba’s largest business plan competition sponsored by the Tsukuba Center Inc. (TCI). Our business plan for preserving the global environment with our original thermal insulation material TIISA was highly evaluated in terms of its technological excellence, uniqueness of the plan, and contribution to society. Encouraged by this grand prize, we will further develop our business activities for global environmental protection that we have been promoting. This news will also be reported in the Nikkan Kogyo Shimbun (2023.2.24)

After being selected as a participant in an acceleration program sponsored by Ibaraki Prefecture and JETRO Ibaraki, our company received top-level mentoring from Entrepreneurs Roundtable Accelerator (ERA) and presented our pitch to investors and industry experts at an ERA event held in New York.

We were invited to speak at a hybrid on-site/online pitch event hosted by the Tsukuba Center Inc, as one of the five high-potential ventures from Tsukuba’s environmental and energy sector. We presented TIISA®, our high-thermal insulation, fire-resistant, and lightweight aerogel insulation material that contributes to energy conservation and a shift to earth-friendly energy.

つくば発！環境・エネルギー特集　ベンチャー企業ミートアップ（11月18日開催）

At the poster session of the 2nd Space Exploration Open Innovation Forum hosted by JAXA Space Exploration Innovation Hub, we presented our joint research project with JAXA, Tokyo University of Science, and NIMS on “Research on Structural and Thermal Insulation Materials Technology to Achieve Compact Transportation.”

We participated in the MEET TAIPEI Startup Festival, the biggest startup festival in Asia held at Taipei EXPO DOME. This festival is co-organized by Business Next Media, the most influential technology and business media in Taiwan, and Meet, the largest startup community. The festival attracted 2,900 startups and more than 170,000 visitors.

We participated in the Grow Up with TAIWAN Program organized by the Japan-Taiwan Exchange Association. This program is part of the “Japan-Taiwan Startup Ecosystem Enhancement Project”, which supports Japanese startups to commercialize their businesses in Taiwan, and is an acceleration program conducted in cooperation with Garage+, the largest accelerator in Taiwan. We were selected as one of the five participating companies from Japan and participated in Meet TAIPEI after an online orientation.

We participated in the Taiwan Innotech Expo held in Taipei, Taiwan from October 13th to 15th. Our exhibition was located at the Japan booth, organized by the Japan-Taiwan Exchange Association. The Expo attracted 69 exhibitors from 18 countries, including TSMC, MediaTek, ASE, PHISON, Himax, and others, with over 600 new technologies on display.

Selected by above-mentioned project.

We were selected as the best enterprise in the “Maintaining the Earth’s Environment for Future Generations” category at the 9th Rise Up Festa business contest, hosted by Mitsubishi UFJ Bank (final screening: July 22, 2022). In addition to the business support grant, we will receive mid-to long-term support from Mitsubishi UFJ Financial Group as a Rise Up Family. In addition, we also received the following awards at the final judging.

AGS Special Award: AGS Consulting Co., Ltd.

Mitsubishi Estate Award: Mitsubishi Estate Co.

Nagoya City Award: City of Nagoya

Hamamatsu City Award: Hamamatsu City, Osaka Prefecture

Osaka City Award: Osaka Prefecture and Osaka City

Sakai City Prize: Sakai City, Kyoto

City Prize: Kyoto City

※For more information on each award, please visit https://www.bk.mufg.jp/houjin/festa/index.html

Rise Up Festa is a program that supports venture companies that are working on new businesses with originality and creativity or that are pursuing new businesses beyond existing business areas. By leveraging the extensive know-how accumulated through the network and management support of Mitsubishi UFJ Financial Group (MUFG), the program provides mid- to long-term support for companies that are expected to grow in the future in four fields, as “Rise Up Family. Reference website:

https://www.bk.mufg.jp/info/20220722_riseupfesta.html

https://prtimes.jp/main/html/rd/p/000000025.000079050.html

We are one of the eight companies selected to participate in the final screening of the 9th MUFG Business Support Program “Rise Up Festa”, which will be held in July.

We will pitch at the above-mentioned online event on March 10, 2022.

On March 3, 2022, we gave a pitch at Kanagawa Science Park (KSP) and exhibited TIISA at the event.

Thermalytica has been selected as one of the Top20 startups participating in the Innovation Leaders Summit (ILS) 2022, Asia’s largest open innovation event. CEO Kazuo konuma is scheduled to present at the “TOP20 Startup Pitch” on February 18th, where he will explain our business of proprietary thermal insulation material TIISA® and ultra-high temperature thermal barrier coatings.

We were selected as one of the 10 finalists for the Headline Award sponsored by Tsukuba Center Inc. (TCI). The final presentation and evaluation will take place on January 28th. If you are interested in watching the event, please apply by the following website.

第２回ＴＣＩベンチャーアワード　ファイナリストプレゼンテーション・審査会(1月28日開催)