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With its long track record of venture companies becoming international brands, Japan is nurturing innovative technologies and startups that will energize the global market.
FREMONT, CA: Startup enterprises will play a critical role in revival and growth as markets worldwide begin to reopen after two years of the coronavirus outbreak. Japan is developing breakthrough technology and businesses that will energize the global market, owing to its long history of venture companies becoming international brands. The Japanese government is encouraging companies that will drive innovation and establish new businesses to get the Japanese economy back on track. The Startup Cities Acceleration Program is an essential aspect of Japan's effort to nurture firms with global ambitions and growth potential.
Prime Minister Kishida Fumio, who took office in October 2021, has made activating Japan's startup ecosystem one of his main priorities for economic growth. Japan has been developing a startup ecosystem to compete with the world's leading ecosystems as part of the government's "Beyond Limits. Unlock Our Potential" plan. The plan aims to boost the dynamism of Japanese businesses by supporting startups as innovation engines. Startup City Project Japan is an essential part of this project. The national project covers eight cities, including Tokyo and Osaka, where the central government collaborates with local governments, universities, and the corporate sector to provide full ecosystem support. The initiative aims to reach goals, including creating unicorns and tripling the number of companies and foreign entrepreneurs by providing acceleration support, gap finance, and aid with worldwide expansion.
The Japan External Trade Organization (JETRO) developed the Startup City Acceleration Program, an intensive mentoring course intended to promote Japanese businesses with worldwide expansion and fundraising ambitions. It is being organized in collaboration with five world-class accelerators. One of them is Techstars, a worldwide investment firm that provides early-stage entrepreneurs with access to funding, one-on-one coaching, and tailored programming. Techstars has graduated over 2,900 firms with a total market capitalization of almost USD 179 billion from its programs throughout the world, which connect them to a network of experienced entrepreneurs, mentors, and investors.
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