ASICS Corporation announces that ASICS Ventures Corporation will host a pitch event with the theme of “ideas for collaboration with ASICS India Private Limited (AIN),” with Indian startups. The program name is “ASICS Innovation Pitch in India,” and ASICS Ventures and AIN will play a central role in managing the program. In addition, this event is powered by GHV Accelerator [1], India’s leading startup accelerator.
This is the sixth program for startups by ASICS, following the TENKAN-TENTM [2], held twice in Europe, and the ASICS Accelerator Program [3], held three times in Japan. This is the first such program in India.
India is the largest population in the world, and the Indian athletic footwear market is experiencing a surge in demand driven by the country’s growing health consciousness and fitness culture. ASICS aims to achieve sales of US$100 million by 2026 through improvement of its brand power and providing innovative products in India. [4]
At ASICS Innovation pitch, startups will be invited to participate in following three themes: "Broader Market Access to Runners," "More Attractive Running Experiences," and "Better Products Based on VISION2030," with the aim of accelerating business development in India and creation of future new business.
ASICS will solicit proposals for cooperation with AIN and select six finalists to participate in the pitch event after document screening from October 18 to November 30, 2023. The pitch event is scheduled to be held in March 2024, and the winning companies will begin business collaboration with AIN, aiming for early social implementation.
ASICS is reinforcing its relationships with the winners of past programs. With Ashirase, Inc. [5], ASICS conducted demonstration experiments with the support of ASICS Institute of Sport Science in March 2022. ASICS announced its investment in Ashirase, Inc. to further strengthen their relationship in October 2022.
As society and the environment undergo rapid changes, it is critical that ASICS bolsters both its in-house research and development and also actively seeks promising expertise from outside in order to offer products, services, and an environment that contributes to further improving people’s health conditions from both mind and body perspective. ASICS Group wishes to achieve sustainable growth by continuing to partner with startups that would create new value and innovation.
Overview of ASICS Innovation Pitch in India
<Program name> ASICS Innovation Pitch in India
<Application period> October 18 - November 30, 2023
<Application themes>
Ideas on the following three themes will be solicited.
- Broader Market Access to Runners for more runners in India getting to know ASICS
Ideas for new locations, services, and events that increase the number of ASICS runners' contact points - More Attractive Running Experience for providing runners in India more happiness
Ideas for services that make the running experience more attractive, services that support the maintenance and improvement of runner motivation, and ideas on new purchasing experiences - Proposing Better Products Based on VISION2030 for providing best-in-class products with runners in India
Ideas for products such as high functional running shoes that make use of local production, sustainable products, and introduction of products that are compatible with multiple languages
<Qualified Applicant>
A company that has been established within 10 years at the time of application and is registered as a legal corporation or a company mainly based in India
For further information visit ASICS Innovation Pitch in India's Official Website.
- ENDS -
Notes to editors:
[1] GHV Accelerator official website https://www.ghvaccelerator.com/
[2] The ASICS TENKAN-TEN Sports & Well-Being Growth Catalyst is a global startup acceleration program focusing on growth stage startups helping them to scale their businesses.
[3] ASICS Accelerator Program aims to create new value through working together with passionate entrepreneurs who fully devote their life to solving social problems as Mr. Onitsuka used to do so.
[4] The 8th Investment Day, "Growth Strategy in India and ASIA," June 6, 2023
https://assets.asics.com/system/media_libraries/3937/file.pdf?_ga=2.81505111.1187548510.1695604429-1378949006.1663073881
[5] Ashirase, Inc. is a startup company engaged in the development of a walking navigation system “ASHIRASETM” for the visually challenged, and won the Excellence award at the ASICS Accelerator Program in 2021.
On October 5, 2022, ASICS announced the release of investment in Ashirase, Inc. The press release can be found here.