UMI enters into memorandum of understanding with Saudi Arabia’s Forming Future, aiming to build and maximize startup ecosystems

Universal Materials Incubator Co., Ltd. (Representative Director: Shosuke Kiba, hereinafter “UMI”) a venture capital firm specializing in the materials and chemical industries, has signed a memorandum of understanding with Forming Future, a Saudi Arabian incubation accelerator, aiming to build and maximize the startup ecosystems in both nations.

The two companies will mutually support the market expansion of promising emerging technologies in Japan and Saudi Arabia, alongside initiatives to introduce Japanese industrial expertise to Saudi Arabia. With a target timeframe of 2030 to 2040, the companies will collaborate in key fields including semiconductors, materials science, renewable energy, deep tech, and climate tech (including water tech). Going forward, Forming Future and UMI aim to evolve these initiatives into a bilateral cooperation scheme and establish a jointly managed fund.

On September 24, 2025 (Wednesday), both companies signed a memorandum of understanding at the Japan-Saudi EXPO Investment Forum held at the Osaka-Kansai Expo venue.

Forming Future and UMI aim to strengthen the startup ecosystems of both countries and achieve sustainable economic growth through innovative technologies.

From left: Eng. Sattam Ali Alqarqah, CEO of Forming Future; H.E. Khalid Al-Falih, Minister of Investment, Saudi Arabia; H.E. Koga Yuichiro, State Minister of Economy, Trade and Industry; Shosuke Kiba, Representative Director of Universal Materials Incubator Co., Ltd.

UMI, a venture capital firm specializing in the materials and chemical industries, contributes to the creation of innovation by providing startups with opportunities for business development and technology demonstrations in the Middle East, while also serving as a catalyst for attracting overseas investment.

Forming Future
Forming Future is a Saudi Arabia–based incubation accelerator that supports the research, development, and commercialization of innovative technologies. From intellectual property protection to startup launch, business development, and strategic investment, Forming Future offers comprehensive support for the social implementation of new ideas. The firm continues to grow as a platform for shaping the future across diverse sectors, including aviation, robotics, AI, healthcare, and education.
https://formingfuture.sa/

Universal Materials Incubator Co., Ltd. (UMI)
UMI invests in outstanding new technologies and businesses in the fields of materials and chemicals that form the foundations for future industry, originating from both Japanese companies and academia, based on the vision of “Strengthening Japan’s engineering capabilities and cultivating an industry structure that can compete globally, by fostering outstanding material/chemical companies.”
Representative Director: Shosuke Kiba
Location：1-12-22 Tsukiji, Chuo-ku, Tokyo 104-0045, Japan
Establish：Oct 6, 2015
https://www.umi.co.jp/en/