Call for Applications: Tokyo Financial Award for Businesses in Japan and Worldwide

Deadline Date: August 30, 2024

 Donor Name: Tokyo Metropolitan Government

 Grant Size: $10,000 to $100,000

The Tokyo Financial Award 2024 recognizes initiatives that contribute to the creation of innovation in the financial sector, and that utilize the power of finance to achieve a sustainable society.

Categories

The Tokyo Financial Award 2024 comprises the two categories of “Financial Innovation” and “Sustainability.” Applications are accepted for a wide range of initiatives in Japan and overseas.

• Financial Innovation Category
  • This is a business plan contest that recognizes ideas making use of the latest financial technology to offer solutions for the societal issues facing Tokyo residents and society at large. Applications will be judged from the perspective of the innovativeness of the idea, social impact, and feasibility.
  • Businesses that pass the preliminary screening (written proposal) will be provided with mentoring and additional support to refine their plan (about 15 applicants). Cash prizes will be awarded to the top three applicants in the final screening (presentation). (1st place: 10 million yen; 2nd place: 5 million yen; 3rd place: 3 million yen).
• Sustainability Category
  • This award is presented for initiatives that contribute to the spread of sustainable finance on both the investment side and the business side. Applications will be judged from the perspective of originality and social impact.
  • Awards will be presented to the top three applicants following a preliminary screening (written proposal) and final screening (presentation). A separate “Green Finance Governor’s Special Award” will be presented for particularly outstanding initiatives in the area of green finance.
    • Investment Subcategory (Former ESG Investment Subcategory)
      • Investment activities that contribute to the realization of a sustainable society
    • Business Subcategory (Former SDGs Subcategory)
      • Initiatives that leverage sustainable finance to help achieve a sustainable society

Categories and Themes

• Financial Innovation Category
  • Deposits/withdrawals
    • Enhanced convenience of online transactions (e.g. cost reduction, simplifying methods for operations/management)
  • Payments/remittance
    • Greater availability of cashless payments (e.g. expanded options for cashless payments, proliferation of stores that accept cashless payments, enhanced interoperability)
  • Asset management
    • Investment products and services with low barriers to entry (e.g. products that enable investments with small amounts, reduced costs, investment advice)
  • Insurance
    • Simplified insurance procedures (e.g. streamlined processes enabled by technology utilization)
  • Financing
    • Easier-to-use financial services (e.g. shorter screening times, lower interest rates)
• Sustainability Category
  • Investment Subcategory
    • Proliferation and promotion of sustainable finance
      • Proliferation and promotion of sustainable finance and regenerative finance (ReFi)
    • Environment
      • Natural resources (e.g. water resources, responsible procurement of raw materials, land use, biodiversity)
    • Social
      • Human capital (e.g. labor management, promotion of diversity and women’s participation in the workplace, human capital development)
    • Governance
      • Transformation of corporate behavior (e.g. business ethics that benefit society, no track record of fraud, manipulation or corruption, promotion of fair competition)
  • Business Subcategory
    • Initiatives that leverage sustainable finance to help achieve a sustainable society

For more information, visit Tokyo Metropolitan Government.