Posted on by

Gateway to global innovation: Tokyo Innovation Base

Tokyo Innovation Base

In the dynamic world of global innovation, Japan emerges as an alluring hub for startups, particularly within the energetic city of Tokyo. Japan’s economic strength and substantial government investment in the startup ecosystem positions it as a strategic destination for those seeking opportunities.

Why Japan now? Exploring market opportunities

Japan stands out as an enticing choice for startups, driven by several compelling factors. Economically, Japan is the world’s fourth-largest economy by GDP. This not only signifies a robust economy but also translates to a vast market, capable of catering to diverse consumer needs and preferences.

Also read: Empowering innovators: Prudence Foundation tackles disaster challenges

Underlining its commitment to innovation, the Japanese government has pledged substantial support, allocating a total of ¥1.5 trillion to startup initiatives. This financial commitment underscores the country’s dedicated effort to foster entrepreneurial growth.

The Japanese government’s strategic “Five-Year Startup Development Plan” aims to elevate annual startup investments to ¥10 trillion by FY2027, envisioning the creation of 100 unicorns and 100,000 startups. The plan focuses on crucial aspects such as building human resources, strengthening funding avenues, diversifying exit strategies, and promoting open innovation.

Startups: Why Tokyo?

Tokyo, as a startup destination, offers distinct advantages for entrepreneurs:

  • Hub for Advanced Technology: Tokyo ranks as the world’s third-leading city in research and development, making it a hub for cutting-edge technologies and innovation.
  • Corporate Powerhouse: Hosting a concentration of major corporations, Tokyo provides startups with ample collaboration and partnership opportunities.
  • An upswing of VC Investments: Tokyo is witnessing a positive trend in venture capital investments, showing a thriving startup ecosystem.
  • Urban Sustainability Opportunities: Tokyo Bay ESG, a project aiming to create “the world’s first ESG city” by 2050, presents huge opportunities for climate tech startups. In the future, Tokyo plans to meet all energy needs through renewable sources and achieve zero emissions in buildings and transport systems.
  • Government Support: The Tokyo Metropolitan Government extensively supports market entry, offering assistance with procedures, funds, and subsidies.
  • Quality of Life: Beyond business, Tokyo provides an excellent quality of life and a diverse culinary culture, making it a prime destination for entrepreneurs.

Tokyo Metropolitan Government support

Tokyo aims to become the world’s most startup-friendly city, with plans to grow the number of unicorns and new businesses launched in the capital by 10 times over the next five years. This vision, known as the ’10×10×10 Innovation Vision’ aims for a tenfold increase in the number of unicorns, startups, and collaborative projects within the specified timeframe. Governor Yuriko Koike highlighted four key elements:

  • Global: Creating global startups
  • Growth: Supporting the growth of young people willing to take on challenges
  • Collaboration: Creating collaboration between startups and established institutions
  • Connect: Establishing a platform to connect everyone in the startup ecosystem

Aligned with this vision, the “Tokyo Innovation Base” (TIB) was established, aiming to create a hub for global innovation, where startups and supporters can connect and collaborate.

Also read: Application to PepsiCo’s Greenhouse Accelerator 2024 is extended!

Tokyo Innovation Base: A hub for startups

Tokyo Innovation Base (TIB) is a new startup campus and business networking hub in the heart of Tokyo, accelerating the local startup scene and positioning Tokyo as a global hub for innovation. TIB offers:

  • Concierge Services: Personalised support tailored for startups, encompassing guidance on various aspects of business development. TIB’s concierge services extend access to over 50 experts across diverse industries for one-on-one consultations. These services cater to early-stage startups, later-stage startups seeking a foothold in Japan, and aspiring founders exploring business opportunities in the country.
  • Mentorship: Mentorship at TIB extends beyond industry-focused advice; it also includes general assistance such as pitch training sessions, business ideation, and the facilitation of partnerships with Japanese corporations.
  • Events and Training Programs: More than just a physical space, TIB stands as a beacon for aspiring entrepreneurs, visionaries, and innovators worldwide. The hub organises a variety of events designed to foster networking opportunities among startups, creating a dynamic environment for collaboration and idea exchange.
  • Corporate-Startup Collaboration: TIB actively facilitates partnerships and collaboration between startups and established companies. With over 140 corporate partners having established ties with TIB, the hub aims to foster ecosystem collaboration. This involves connecting startup ecosystem builders and investors with key stakeholders in Tokyo and Japan, creating a robust network for mutual growth.

SusHi Tech Tokyo

SusHi Tech, short for Sustainable High City Tech, stands as one of Asia’s leading startup conferences, dedicated to addressing global urban challenges through technology happening on May 15th and 16th, 2024, at Tokyo Big Sight!

Take the first step towards global opportunities! For more details, visit Sushi Tech Tokyo 2024

Also read: 9Unicorns to facilitate $110M funding for 20 startups at DDAY 5 with 1500+ investors

Learn more about TIB

Explore Tokyo’s vibrant startup ecosystem, driving innovation and entrepreneurship! For more details about Tokyo Innovation Base, visit their website or follow them on the accounts below:

LinkedIn: https://www.linkedin.com/company/tokyoinnovationbase/ 

Twitter: https://twitter.com/TIBTokyo 

Come by anytime if you’re around Tokyo – TIB is looking forward to collaborating and growing together!

– –

This article is produced by the e27 team, sponsored by Tokyo Innovation Base

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post Gateway to global innovation: Tokyo Innovation Base appeared first on e27.