To demonstrate Tokyo’s ambition to revive its entrepreneurial spirit and reinforce its technological development, the Tokyo Metropolitan Government launched the City-Tech.Tokyo initiative as part of the “Global Innovation with STARTUPS” plan. Through the plan, the Tokyo Metropolitan Government wishes to transform Tokyo into a city where many global-scale startups will form and prosper, propelling sustainable economic growth and generating more employment opportunities. 

Central to City-Tech.Tokyo initiative is the two-day City-Tech.Tokyo event which was successfully held in Tokyo on February 27th and 28th, attracting enormous global media attention with the participation of over 26,000 attendees both physically and digitally. The exciting event brought together leading innovation executives, growth leaders, investors, entrepreneurs, government officials and agencies, international organisations and others from 67 countries representing 293 cities to discuss topics such as technological innovation, advanced technologies such as artificial intelligence, robotics, cloud computing, and open innovation to solve existing world problems.

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The event featured a wide range of activities designed to promote collaboration and exchange ideas including over 25 keynote speeches and panel discussion sessions led by key figures from startups and government agencies, bilateral and multilateral business meetings, 328 exhibition booths, and a “City-Tech Challenge” Pitch Contest with 20 participating teams. Additionally, many successful partnerships have been created among companies present at City-Tech.Tokyo which led to new business opportunities for all parties. 

The rationales behind City-Tech.Tokyo event and key takeaways

City-Tech.Tokyo was formulated out of the urgent need for open innovation which emphasises collaboration across various economic sectors and private and public stakeholders, incorporates more new ideas from multiple perspectives via open conversations, and addresses the gaps between traditional businesses and newly established digital enterprises. Moreover, the event aimed to give rise to more fruitful business dialogues and cooperation, connecting Tokyo’s tech industry to global players and driving innovation through collaboration.

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In light of its grand objectives, City-Tech.Tokyo has identified several key areas for Tokyo authorities to improve the city’s business environment:

• First, Tokyo should invest in infrastructure improvements such as ensuring safe, secure, and resilient city infrastructure using advanced technologies. It should also foster convenient and safe transportation methods and systems for inner-city and interstate transportation.
• Second, to boost living standards, the city aims to leverage financial sector technologies to bring enhanced convenience and enable everyone to live an active and happy life.
• Third, regarding environmental quality, the city should accelerate the decarbonisation process by rebuilding energy production systems and consumption models while also reducing food loss and increasing food security.
• Lastly, City-Tech.Tokyo plans on combining traditional culture with modern technology to create new entertainment possibilities and rediscover the original charms of Tokyo. 

“Future Tokyo Strategy” and the city’s plan to become the world’s number one startup city

City-Tech.Tokyo fits nicely within Tokyo’s ambition to become the world’s number one startup city.  As a country prone to extreme natural disasters, Japan has developed a lot of advanced technologies over the years to survive and thrive. Hence, Tokyo, Japan is considered globally as a leading city that stands at the forefront of technology and innovation. It is home to some of the world’s most advanced research centres, universities, and companies in fields such as robotics, artificial intelligence (AI), biotechnology, and more, making a name for itself as an international tech hub due to its high concentration of cutting-edge businesses.

In fact, according to the Global Innovation Index 2022, Tokyo was ranked as the 13th most innovative city in the world, being praised for its business sophistication, high returns on technological investments, the presence of global R&D investors, and stringent intellectual property rights.

Nevertheless, despite the achievements, the push for more technological breakthroughs for Tokyo persists due to rising global competition and the emergence of disruptive business models. Consequently, the Tokyo Metropolitan Government has recently announced its “Future Tokyo Strategy”, an ambitious plan to push for Tokyo development, improving people’s lives and making the city the world’s number one startup city by 2040.

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“For a long time after World War II, Tokyo has nurtured a large number of startups whose solutions contributed significantly to the city’s development. Nonetheless, in the past few years, the city witnessed a decrease in the number of startups, which is a concerning trend. Hence, with the Future Tokyo Strategy, the city hopes to revive its startup scene and provide high-quality job opportunities for people,” expressed Tokyo Metropolitan Government (TMG) Vice Governor, Manabu Miyasaka.

The strategy not only promises greater economic security but also offers incentives for more people to start their business ventures which could lead them to success domestically and internationally. Furthermore, as one of the world’s largest cities, Tokyo has the potential to provide solutions for global urban issues and challenges faced by other major cities around the world.

Building on City-Tech.Tokyo 2023’s success, the next edition of City-Tech.Tokyo which will take place in May 2024 has already been in the making. The event is poised to involve more international participants and create stronger ties within Japan’s tech ecosystem. 

To learn more about the event, visit this page.

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This article is produced by the e27 team, sponsored by Deloitte

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