Approximately $4 billion was allocated to Japanese startups in 2019, five times the sum in 2010, according to INITIAL, a Tokyo-based startup information platform. This reflects a long-term trend in venture capital flows, which have nearly returned to the levels prior to the 2007-2008 global financial crisis as Japanese brands have channeled funds to startup companies.
“What we do is centered on next-generation technologies, and for new innovation to work, you need a high level of trust,” says Tim Rowe, cofounder and CEO of CIC. “You need to believe that your partners who are spending lots of money are telling you the truth. Real innovation requires a level of confidence that is hard to find in the world, and Japan is one of the places that has this level of business trust.
Rowe has a unique personal connection to Japan: his great-grandparents traveled to Japan about 100 years ago, and he spent time in Japan in the 1990s working as a technology analyst for Mitsubishi Research Institute and Boston Consulting Group. In cofounding CIC, he says he was inspired by Humphrey Bogart’s Rick Blaine in, the owner of a café where people from various backgrounds can meet and overcome challenges.
“Since major corporations in Japan are seeking open innovation, they’re becoming stakeholders in new companies," says Fujimoto Ayumi of Plug and Play Japan.Plug and Play Japan has over 40 partners including major Japanese brands from manufacturing, real estate, construction, financial services, and IT. It focuses on the verticals of insurtech, fintech, mobility, brand and retail, health, and smart cities.
JapanGov Are you listening to Dr. Anthony Fauci of U.S Center for Disease Control at all? He's been telling us that coronavirus will be around for a long time and what we can do is to manage it. However, there is nothing that is beyond prayer. Pray to God for divine cover for your family.
JapanGov Are you sure we are moving into the post-covid19 era, when it is still ravaging the whole world more vigorously than at its start. Even the vaccines that are being touted will take long to get to places like Africa and Asia. Bubonic Plague still trounces people after 700 years.
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