SeiRogai, Inc. has been recognized and selected by the Government of Japan’s Ministry of Economy, Trade, and Industry (METI/経済産業省) and the Small and Medium Enterprise Agency (中小企業庁) for the national “Business Restructuring Grant (Second Call for Proposals)” to develop SeiRogaiTV, a new online content service for the Japanese market. The Government of Japan’s Business Restructuring Grant (JP: 事業再構築) supports Japanese SMEs that are willing to take on the challenge of restructuring their business in the face of COVID-19, including activities such as ‘expansion into a new field, change of business category, change of business or industry, business restructuring, or expansion of scale.’
SeiRogai, Inc.’s proposal of developing “SeiRogaiTV: Internet Distribution Service Specialized in Southeast Asian Dramas using Advanced Digital Technology” (JP: 先端デジタル技術を活用した東南アジアドラマ特化型ネット配信サービス「ＳｅｉＲｏｇａｉＴＶ」の開発) was selected and approved to receive funding from the Government of Japan.
“We value this support from the Government of Japan as SeiRogai strives to bring innovative products and services to market and further our mission to bridge Japan to the world. SeiRogai would like to thank the Government of Japan, METI, and the Small and Medium Enterprise Agency for this funding and their continued support of emerging international media tech companies in Japan,” said Rachel Leng, COO of SeiRogai, Inc.
“This most recent investment enables SeiRogai to carry out necessary market research and development work to build the infrastructure of SeiRogaiTV that will serve as our online distribution hub for streaming VOD contents. In particular, SeiRogaiTV will focus on bringing in the latest Southeast Asian dramas, including from Thailand, to Japanese audiences. Through the SeiRogaiTV platform, we aim to diversify and deepen the partnership between Japan and Southeast Asia,” comments Samuel Yuen, CEO and Producer of SeiRogai, Inc.
(Business Restructuring Grant website – Japanese only)
https://jigyou-saikouchiku.go.jp/pdf/result/tokubetsu_kanto02.pdf
* SeiRogai, Inc. is listed on the 20th page of the official announcement of selected and recognized companies.
Our business proposal “SeiRogaiTV” involves developing a new online content distribution service specializing in bringing Southeast Asian dramas to Japanese audiences. SeiRogai, Inc. will pursue an expansion into the new industry of online distribution services, in addition to traditional media and tv show production in collaboration with cable TV broadcasters.
Although the COVID-19 outbreak brought the normal day-to-day functioning of the media industry to a standstill and halted all productions, the pandemic has made an optimistic impact on the global OTT (Over-The-Top) market growth. OTT stands for “over-the-top” and refers to the productized practice of streaming content to customers directly over the web. It represents the future of entertainment — one that is already unfolding.
According to market data, the global OTT market accounted for $110.1 billion in 2018 and is expected to garner $438.5 billion by rowing at a healthy growth rate of 19.1% by 2026. Under the COVID-19 pandemic, the market has garnered $155.6 Billion owing to the impact of the novel coronavirus and stay-home regulations that contributed to a 30% increase in the consumption of online content.
SeiRogai, Inc. plans to develop and build a new OTT distribution service aligned with the future of the TV industry, and aims to diversify the content market in Japan while improving user convenience in content viewing.
About the Business Restructuring Grant
The Government of Japan’s “Business Restructuring Grant” is intended to support the business restructuring of small and medium-sized enterprises (SMEs) to cope with economic and social changes in the post-corona era.
(Small and Medium Enterprise Agency Website – Japanese Only)
https://jigyou-saikouchiku.go.jp/
The number of applications for the second call for proposals was 20,800. Of these, 9,336 were selected as a result of a rigorous screening process.
