How Tokyo is driving a new era of innovation for startups

It is the dawn of a new era of innovation for the land of the rising sun.

Investments in the country’s startups grew tenfold from 2013 to 2023 as collaborations between corporations and startups became the norm. On top of that, the Japanese government introduced the Five-Year Startup Development Plan in 2022.

Photo credit: Takashi Images / Shutterstock

While ambitious, its goal was simple – to create 100 unicorns and 100,000 startups in Japan.

In line with the central government’s plan, the Tokyo Metropolitan Government announced a new strategy, Global Innovation with Startups, in November 2022.

The centerpiece of this strategy was the creation of a startup hub known as Tokyo Innovation Base (TIB), which was intended to become a nexus where startups and their supporters from across the globe can gather and interact.

Pioneering a collaborative startup ecosystem

From the ideation stage, TIB engaged in open discussions with startups, accelerators, experts, ecosystem builders, and economic organizations.

Leading Japanese companies have joined TIB / Photo credit: TIB

This way, the Tokyo Metropolitan Government could get a diverse range of contributions and perspectives even before it put pen to paper, cutting down on the need to make major pivots down the line.

“We wanted to put our words into practice. Instead of presenting a vision created by the government, we wanted to co-create this vision with the wider ecosystem through open discussions,” an official from TIB shares.

Launching an innovation base for Japan

TIB’s initial launch on November 27, 2023 was a huge success; over 800 accelerators, venture capitalists, large corporations, financial institutions, and entrepreneurs from all over the world attended TIB’s pre-opening kick-off event. Yuriko Koike, Governor of the Tokyo Metropolitan Government attended the event and delivered an opening talk.

Yuriko Koike, Governor of the Tokyo Metropolitan Government, delivering the opening speech / Photo credit: TIB

The event included informative sessions with international guests, an exhibition showcasing startup products, and one-on-one investor meetings at TIB.

Through its newly launched services, TIB aims to provide hands-on support for all aspects of a startup’s journey and serve as a one-stop service for international entrepreneurs looking to establish their startups in Japan, says an official from TIB. For that reason, TIB also offers services in English.

TIB has since kept the momentum going, collaborating with various partners to host events almost daily. More than 150 partners have worked with TIB to organize events and other activities catered to both Japan as well as the global startup ecosystem. By March 2024, about 100 events have been held in partnership with TIB, bringing together more than 10,000 guests.

To further strengthen the local tech ecosystem and serve the community, TIB has also opened its doors to members of the public as long as they’re registered beforehand.

A bright future ahead for Japan’s startups

With collaboration, growth, and eliminating obstacles in mind, TIB continues to grow its pipeline of activities, in line with its mission of becoming a “node” for innovation worldwide.

For instance, it’s set to collaborate with universities across Japan to support student and youth activities. TIB will be present at student-led events and ideation sessions to create an inclusive space where all can participate and to foster connections with various players in the ecosystem.

Photo credit: TIB

“Driving collaboration across the ecosystem is a large priority for us at TIB. One of TIB’s goals is to continue facilitating innovation between large companies and startups,” shares the official from TIB. “Leading Japanese companies, including Sony, have already participated in sessions with a focus on transforming management mindsets and enhancing collaboration.”

In addition, TIB is set to further support hardware-based startups by creating an advanced fabrication space fully equipped with 3D printers. It has also established relationships with entities like DMM.make Akiba, a co-working space equipped with manufacturing facilities, and Garage Sumida, a manufacturing consultancy.

TIB will continue its agile development, with plans being laid ahead of its grand opening in May. These plans include the launch of additional services and facilities such as ‘FAB’, which will be catered towards supporting hardware startup prototyping, as well as ‘SHOP’, which will facilitate marketing testing for food and B2C startups.

“While ‘Tokyo Innovation Base’ is physically situated in Tokyo, we want our support to reach beyond and encompass the entire innovation ecosystem in Japan,” says Manabu Miyasaka, Vice Governor of the Tokyo Metropolitan Government.

Currency converted from yen to US dollar: US$1 = 150 yen.

Tokyo Innovation Base aims to be a global node of innovation; a place where ambitious individuals come together to advance society with their groundbreaking ideas and technologies. To learn more, visit its site.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.