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Hello reader,
Somewhat recently, there was a meme called “Let Him Cook” going around. Yes, I’m terminally online, I know.
The original meaning of it was to give someone time and space to work on something – that “something” usually being a little weird. It has since grown to encompass more than just planning something weird, and people tend to use it in all sorts of ways these days.
However, the core idea is rather simple and has not changed: to leave someone to their own devices and wait to see the outcome, kind of like what actual cooking is.
Seeing the headline for today’s premium story – “Japanese startups haven’t gone global yet, but the ingredients are there” – immediately led me to think of this meme, because it encapsulates the idea of Japan’s tech scene just needing some time to see its improvements come to fruition.
In other words, let Japanese startups cook!
Today we look at:
- What’s brewin’ and stewin’ in Japanese startups’ globalization efforts
- ElectricPe’s US$3 million funding round
- Other newsy highlights such as Canva’s latest acquisition and Bank Jago reaching more than 10 million users
Premium summary
A rich broth
Image credit: Timmy Loen
Japan’s always been one of the top global economies, but it’s kind of a shame that its tech scene still hasn’t produced a startup to match. However, according to Ikuo Hiraishi, a Japanese serial entrepreneur and the writer of today’s premium story, things could change soon.
- Heating up with events: Japan has become a destination for large, global startup events, such as Infinity Venture Summit and Startup World Cup. The latter has drawn huge names like Steve Wozniak, Vinod Khosla, and Reid Hoffman.
- A spoonful of funding: The local funding scene is on the up too. Part of the reason for this is that VC funds in Japan have gotten larger, such as Globis Capital Partners’ Fund VII, which is worth US$476 million.
- Thinking outside the pot: Hiraishi believes that Japanese startups need a multinational founding team to truly succeed globally, as it gives them a broader perspective to understand different cultures as well as discover universal problems and market opportunities.
Read more: Japanese startups haven’t gone global yet, but the ingredients are there
Fully charged funding round
Guess where we’re headed next?
Quick bytes
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