Business

TMG now accepting applications from participating companies for Tokyo Financial Award 2023!

The Tokyo Metropolitan Government （TMG） established the “Tokyo Financial Award” in FY2018, recognizing and awarding FinTech companies that are developing innovative financial products and services that contribute to solving issues, including those faced by residents in Tokyo, and businesses that are practicing outstanding initiatives in ESG investment. To solve social issues by leveraging the power of finance, it is vital to implement innovative financial services and to further promote ESG investments that take positive social and environmental impacts into consideration.
We announce today that applications are now open for companies participating in the Tokyo Financial Award 2023 as detailed below.

1.Outline

Applications for The Tokyo Financial Award will be accepted in 2 categories:　“Financial Innovation Category” and “ESG Investment Category”.

	Financial Innovation Category	ESG Investment Category
		ESG Investment Subcategory	SDGs Subcategory
Outline	A contest for business plans to award ideas of excellent financial products and services to solve issues of residents and businesses in Tokyo.	Those businesses that implement outstanding initiatives in ESG investment or SDGs management will be awarded.
Target	Domestic and foreign financial business that have outstanding business ideas.	Domestic and foreign financial businesses that practice ESG investment.	Domestic and foreign businesses (including financial business operators) that practice SDGs management.
Application	An applicant must choose a theme to apply in each category and make an entry through our dedicated website.
Term	From Wednesday May 31, 2023 to Monday July 31, 2023	From Wednesday May 31, 2023 to Thursday August 31, 2023
Award Number	3	Approximately 3
Privileges	Prize money (10 million yen, 5 million yen, and 3 million yen in the order of the rankings). Support programs to brush up their business plans will be given to those who pass the first screening. Ex: Mentorship programs, business matching, overseas communication support	One will be awarded the “Governor's Special Prize for Green Finance.”

Applicants can make double entry in both categories of financial innovation and ESG investment （ESG investment and SDG subcaterogies）. Yet, they will be awarded only in one of the two categories （subcategories）. For details, including other requirements for application, please refer to the website .

2.Set Themes （ Financial Innovation Category）

Category	Themes
Themes shared across all financial services	Fostering collaboration within the financial industry, and between financial and non-financial industries Streamlining of financial asset management (e.g., centralized management of bank accounts, insurance, securities, inheritance) Greater availability of neutral and individually tailored advisory services regarding financial products and services User-friendly financial services that are prepared for “the 100-year life” (e.g., financial services that assist those with age-related cognitive decline) Financial services available in multiple languages and currencies (e.g., aimed at international financial transactions, overseas travelers) Promotion of financial education (e.g., education regarding asset management and insurance)
Deposits/Withdrawals	Enhanced inter-bank operability (e.g., ATM usage, account management) Enhanced convenience of online banking (e.g., cost reduction, ease of use/management)
Payments	Greater availability of cashless payments (e.g., expanded options for cashless payments, proliferation of stores that accept cashless payments, enhanced interoperability) Enhanced convenience of payment methods (e.g., cost reduction, expansion of value-added features beyond payment functionality)
Asset Management	Proliferation of investment products and services with low barriers to entry (e.g., products that enable investments with small amounts, reduced costs)
Insurance	Simplified insurance procedures Insurance sharing
Financing	Easier-to-use financial services (e.g., shorter screening times, lower interest rates) Financial services that support newly established businesses, such as startups
DX/Infrastructure	Promotion of data utilization in financial fields Streamlined work processes in financial fields (e.g., streamlining processes for initiating use of financial services and for verifying ID) Improved security for fintech services (BtoB, BtoC) Facilitation of carbon credit trading (e.g., building trading platforms, services that enhance transparency of carbon credits) Promotion of supply chain finance (e.g., acceleration of fund collection, streamlining of trade procedures)

3.Set Themes （ ESG Investment Category）

A.ESG Investment Subcategory

Category	Themes
Proliferation and promotion of ESG investments	Promotion of understanding with regard to ESG investments (e.g., theoretical research, lobbying, public relations activities that convey the significance of ESG investments) Market development for ESG investments (e.g., provision and disclosure of information, ratings, ensuring transparency, impact evaluation methods)
Environment (E)	Climate Change, Natural Resources, Environmental Market Opportunities
Society (S)	Human Resources, Health and Safety / Human Rights, Consideration for Others
Governance (G)	Corporate Governance, Corporate Behavior

B.SDGs Subcategory

The 17 goals set out in “Transforming Our World: The 2030 Agenda for Sustainable Development” adopted by the seventieth UN General Assembly.

4.Schedule

5.Member of the Screening Committee

	Financial Innovation Category	ESG Investment Category
Screening Committee Chair	YAMAOKA Hiromi Board Director, Chief Sustainability Officer, Future Corporation
Screening committee members	OE Kayo President and CEO, Office Libertas
	UCHIYAMA Tomonori Professor, Tokyo Metropolitan University	ARAI Masaru Chair, Japan Sustainable Investment Forum
	MASUJIMA Masakazu Partner, Mori Hamada & Matsumoto ( law firm )	KATO Yasuyuki Professor, Kyoto University of Advanced science Research professor, Tokyo Metropolitan University Adjunct Professor, Kyoto University

※committee members may be updated in the future.

This project is to promote the "Future Tokyo," Tokyo’s Long-Term Strategy.
Strategy 12: Strategy for Earning Potential in Tokyo and Innovation

For Inquiries
Strategic Projects Promotion Section, Strategy Promotion Division, Office for Startup and Global Financial City Strategy
03-5388-2057
S1130103（at）section.metro.tokyo.jp
※The above e-mail address has been arranged as an anti-spam measure. Please replace（at）with @.