FAQs for Companies Considering JMEC
The Japan Market Expansion Competition (JMEC) is a unique concept, and companies that are considering undertaking a project often have many questions. Below is a list of the most common questions asked by potential project clients. For more information, please email info@jmec.gr.jp.
- What is JMEC?
- Who are typical project clients?
- Which companies/organizations should participate?
- Which company projects will be selected?
- What are the benefits to the project client?
- What commitment is required from the project client?
- What is the cost to be a project client?
- How does my company apply to be a project client?
- When does my company apply to be a project client?
- Q. WHAT IS JMEC?
- A. JMEC is a program designed to foster the development of foreign business in Japan while strengthening the skills of up-and-coming business executives. It is centered on a competition to write the best business plan during the program year. JMEC brings together highly-motivated participants willing to challenge themselves, with companies who want to enter into or expand within the Japanese market.
- Q. WHO ARE TYPICAL PROJECT CLIENTS?
- A. Companies or organizations requiring a business plan for the Japanese market. The objective of the plan may be to introduce a new company or product to the market or to revitalize an aspect of a company's operations in Japan, revision of the distribution network, entry into new market segments etc.
- Q. WHICH COMPANIES/ORGANIZATIONS SHOULD PARTICIPATE?
- A. Any resident or non-resident company or organization considering introducing, expanding or repositioning a product or service in the Japanese market.
- Q. WHICH COMPANY PROJECTS WILL BE SELECTED?
- A. JMEC accepts a wide variety of projects, limited only by the number of places available and the level of detail required by the project. In the case that there are not enough spaces available for all companies that apply, preference will be given to members of JMEC’s supporting chambers of commerce.
- Q. WHAT ARE THE BENEFITS TO THE PROJECT CLIENTS?
A. There are many benefits of participating in the JMEC program. Among them are:
- A comprehensive business plan covering a wide range of issues: strategy, marketing, sales, finance, human resources, legal etc. Most importantly, the business plans address YOUR needs in introducing or expanding your product or service in the Japanese market.
- A lower-cost business plan. The cost to clients is a fraction of the cost required to prepare a business plan with the help of outside consultants.
- A team of five to six mid-career, pre-trained professionals who work on your project and your project only, for a period of five months (January to May).
- A fresh perspective to the client's business problems, unconstrained by in-house limitations and conventions. The teams have the freedom to think outside the box.
- The experience of senior consultants, who review the business plans, and mentors who guide the teams.
- Q. WHAT COMMITMENT IS REQUIRED FROM PROJECT CLIENTS?
- Each company must designate a company employee to act as contact (company liaison) for the team throughout the competition. The company liaison will be point of contact for the team throughout the competition.
- The company liaison represents the company's interests and concerns and must be able to respond to the team's questions in a timely manner via phone, email or in person, providing the team with the information necessary to prepare a successful business plan.
- The company liaison and/or company representatives must be available to conduct a project briefing to the JMEC team mentor during the week of January 10 – 14, 2011 and to the JMEC team during the week of January 17 – 21, 2011.
- Project clients will receive their business plans on or around May 1, 2011.
- Q. WHAT IS THE COST TO BE A PROJECT CLIENT?
- The cost to be a JMEC 17 project client is ¥1,200,000.
- The first installment of ¥600,000 is due upon acceptance into the program.
- The second installment of ¥600,000 is due by December 25th, 2010.
- Discounts are available to companies that apply and pay by September 30, 2010. The early bird discounted rate is ¥990,000.
- An overseas bank transfer fee will be added to each remittance from overseas.
- Fees are non-refundable.
- Q. HOW DOES MY COMPANY APPLY?
- A. Click here for more information about applying as well as the application form.
- Q. WHEN DOES MY COMPANY APPLY?
- A. Applications to be a project client for JMEC 17 are currently being accepted and are due by Friday, November 19, 2010. To qualify for the early bird discounted rate of ¥990,000, companies must apply and pay by September 30, 2010.