In a rapidly evolving landscape where AI, sustainability, and social impact converge, trailblazers like NEC X are driving a transformative wave in the startup ecosystem. During my encounter with NEC X at the Web Summit in Vancouver this past May, Shintaro Matsumoto, President and CEO, painted a vivid picture of the future they are helping to shape. As the guiding force behind Elev X, NEC X's innovative Silicon Valley-based venture studio, its mission is to empower startups at the forefront of groundbreaking technological solutions.

NEC X's commitment to fostering entrepreneurial spirit transcends borders, with a notable emphasis on nurturing Canadian startups that merge advanced AI with meaningful sustainability initiatives. Through tailored programs like Elev X! Ignite and Elev X! Boost, NEC X provides startups with the resources, mentorship, and access to NEC’s expansive $8 billion R&D network needed to transform visionary ideas into scalable, real-world solutions.

This article explores NEC X’s active engagement in supporting global enterprises, offering insights into their groundbreaking initiatives and collaborations. NEC X’s work goes beyond technological innovation; it champions the development of solutions that address some of today’s most pressing global challenges.

Currently, NEC X is accepting applications for Elev X! Ignite Batch 14, with a deadline of July 9, 2025. Approximately ten teams will be selected to advance into the full program, which begins in August 2025. This presents an exciting opportunity for startups to join this transformative journey.

With significant momentum in new partnerships and initiatives, 2025 is poised to be a defining year for NEC X, solidifying its role as a pivotal player in leveraging technology for the greater good.-- Ed.

 

 

Q&A with Shintaro Matsumoto, President and CEO of NEC X

Q1. Can you provide a brief overview of NEC X’s Elev X! venture studio programs?

NEC X is NEC's Silicon Valley venture studio, built to transform ambitious ideas into life-changing solutions. We act as strategic co-founders, providing robust resources and hands-on support to develop solutions, secure customers and funding, and prepare for scale.

NEC X’s Elev X! program offers two distinct tracks: Elev X! Ignite and Elev X! Boost, designed to support startups at different stages of maturity.

Elev X! Ignite is a hands-on, twelve-month venture studio program tailored for entrepreneurs in the problem discovery and validation phase. Startups work closely with NEC X’s multidisciplinary team—including researchers, engineers, advisors, and business coaches—to accelerate product development, validate market fit, and prepare for seed-stage investment. The program includes up to $250,000 in funding, hands-on mentoring, customer validation, and extensive NEC X resources.

Elev X! Boost is tailored for seed-stage companies seeking to accelerate growth and prepare for a successful Series A. We leverage NEC’s global tech ecosystem to forge strategic partnerships and unlock new markets.

Both tracks offer real-world validation opportunities, access to NEC’s $8 billion R&D network, and over 45,000 patents.

Elev X! differentiates itself by working alongside founders as partners and co-creators—not merely investors—through every startup phase, from ideation to market entry.

Q2. What types of startups do you work with? Are there particular areas you focus on?

We are always looking for ambitious B2B, enterprise SaaS, and software startups that use innovative approaches and technologies to solve large, real-world problems.

Specifically, we focus on leveraging NEC’s technological strengths—such as Generative AI, Predictive Analytics, and Computer Vision—to make an immediate and tangible impact. While our venture studio programs have particular expertise in AgTech, public safety, and digital health, Elev X! remains sector-agnostic, welcoming any innovation aligned with our mission to advance social impact through technology, especially where NEC’s proprietary capabilities provide an edge.

Crucially, you do not need a finished product or revenue to apply for the Ignite program. We invest in visionary founders at the earliest stages and help them build from the ground up.

Q3. NEC X has backed several Canadian startups leveraging AI and other innovative technologies for sustainability and social impact. Can you tell us about these startups and what makes them stand out?

While NEC X is based in Palo Alto, our startups are born globally. Our Canadian portfolio exemplifies how technology for good can also be an excellent business. These startups stand out because they address urgent, systemic challenges.

• Verdi tackles global food and water security with an AI-powered smart irrigation platform and recently raised CAD 6.5 million. In 2024 alone, they saved over 100 million liters of water and over CAD 1 million in labor costs for farmers. The synergy is clear: Verdi has been integrated with NEC’s own CropScope™ AI platform for pilot testing in Portugal, demonstrating how we create global opportunities for our startups.

• Yadag is addressing a critical agricultural labor shortage with an AI platform that streamlines the complex visa and compliance processes for seasonal farm workers—over 30,000 workers have already signed up.

• LandWise Analytica is revolutionizing land assessment using AI, providing fast, data-rich insights that help farmers, insurers, and real estate investors make smarter decisions.

• Indellia enhances customer feedback analysis with AI-driven insights. By analyzing millions of data points across reviews, call centers, and social channels, it empowers brands—from Fortune 500 companies to startups—to identify and develop the features most valued by their customers.

These startups distinguish themselves through their measurable environmental benefits, rapid scalability, and agility in tackling systemic issues in agriculture and rural infrastructure. They are no longer just promising ideas—they are impactful solutions driving social change today.

Q4. What startups does NEC X support beyond Canada?

Since its launch in 2018, NEC X has supported a diverse portfolio of over 150 startups globally. While diverse, our portfolio is united by a common theme: using emerging technologies to solve fundamental industry challenges.

Recent notable ventures include:

• Multitude Insights, which enhances collaboration in law enforcement and emergency response for faster, more efficient communication.

• Chekable, which simplifies the complex and costly process of intellectual property management, empowering inventors and patent professionals.

• GPx, developing predictive heart monitoring technology to detect early signs of cardiac events, with the potential to save countless lives.

• Reveleum, reimagining medical record management to provide secure, accurate, and interoperable healthcare data solutions.

• Qualitative Intelligence (QI), leveraging NEC’s Semantic Model Technology to help brands predict the emotional impact of their advertising before an ad is even created.

These companies demonstrate our global reach and our commitment to building enterprise-ready solutions, regardless of where the founders are located.

Q5. Now that Web Summit Vancouver has wrapped up, what were your biggest takeaways from the event? What should every tech startup be thinking about?

Web Summit Vancouver showcased a global surge in AI-driven innovation and sustainability-focused entrepreneurship, particularly within the Canadian startup ecosystem. NEC X’s participation confirmed that today’s leading founders are not only building disruptive technologies but also aligning their efforts with broader societal goals—ranging from climate resilience to labor efficiency.

One key insight is how profoundly AI is transforming every stage of the startup journey. Many sessions focused on AI, revealing that everything—from ideation and customer discovery to product development, go-to-market strategies, and scaling—is being reshaped. The pace of execution is accelerating, which in turn influences how investors evaluate opportunities. I left with a strong sense of urgency: those who don’t adapt risk falling behind, while those who embrace AI’s potential can uncover entirely new market opportunities.

Programs like Elev X! help startups navigate these complexities through hands-on mentorship, regulatory guidance, and early integration with enterprise-grade systems. As competitive pressures grow, NEC X encourages founders to differentiate themselves through domain expertise, user-centric design, and adaptable business models.

Q6. You recently announced the opening of Batch 14. How can founders apply?

NEC X is now accepting applications for Elev X! Ignite Batch 14, with a deadline of July 9, 2025. Approximately ten teams will be selected to advance through the entire program, beginning in August 2025. Founders interested in applying can visit here.

Q7. Are there any other recent developments, partnerships, or upcoming plans for 2025 from the Elev X! venture studio that we should know about?

Yes, 2025 is a year of major momentum for NEC X. The demand for our venture studio model is accelerating at a record pace—we saw a 35% surge in applications in our last batch alone!

This growth signifies a significant opportunity: for founders, it means joining a thriving ecosystem; for investors and corporate partners, it offers access to a curated, high-quality pipeline of enterprise-ready startups that have been de-risked through our rigorous validation process.

We now offer up to $250,000 in equity funding for the Ignite program and are expanding our support network across NEC’s global R&D and business units. We are on track to scale our impact in the US, Canada, and beyond.

Throughout the year, we will announce new investments, partnerships, initiatives, and more.

Q8. A new President, Lee Jae-myung, has been elected in South Korea, with plans to transform South Korea into a technology-driven nation by supporting startups and AI. What are your thoughts on this vision?

South Korea is home to a vibrant startup ecosystem and world-class technical talent. We see tremendous potential in Korean startups, particularly those aiming to expand into the U.S. market or develop global products utilizing technologies such as AI, data analytics, and computer vision.

At NEC X, we are committed to supporting international founders through our Elev X! venture studio program. Based in Silicon Valley, Elev X! offers hands-on venture-building support, funding, and access to enterprise-grade tech capabilities to help startups achieve product-market fit and scale in the U.S. and beyond.

We warmly welcome applications from South Korean startups, especially those based in the U.S., that seek to accelerate their global growth journey. By combining Korea’s strong innovation culture with NEC X’s platform and network, we believe we can create meaningful impact together.

You can find the Korean version of this article here. 

 

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