Creative Cures
Twelve innovators share their solutions at the ACCJ’s Healthcare x Digital Pitch Day Event.
Transforming Treatment
The annual HxD Pitch Day brought together five innovative start-ups that are bringing healthcare innovation to a changing world.
Losing the Lag
Rob Claar, CEO and founder of healthcare investment, development, and commercialization platform HekaBio joins us to discuss how overseas healthcare companies can gain regulatory approval in Japan and put their innovations in the hands of Japanese doctors and patients.
Innovation Engine
The ACCJ Journal sat down with CIC founder Tim Rowe in the bustling Toranomon Hills networking hub to learn more about how he went from sharing a space with friends to leading a community for entrepreneurs that includes more than 1,000 companies at centers in eight cities around the world.
Setting the Stage for Green Transformation
If renewable energy production is not doubled by 2030, power outages and energy system disruptions could become everyday affairs. To help the international community rise to what may be this generation’s greatest challenge, and to showcase some of the technologies that will assist the world in meeting it, the Ministry of Economy, Trade and Industry (METI) organized Tokyo GX (Green Transformation) Week. The 10-day event ran from September 26 to October 7.
Home-Grown Unicorns
There are 488 unicorns in the United States and 170 in China. Japan is home to just 11. The Ministry of Economy, Trade and Industry (METI) is on a mission to narrow this gap. In June, Japan’s Cabinet Office approved the Grand Design and Action Plan for a New Form of Capitalism: Investing in People, Technology, and Startups. The plan includes the formulation of a five-year roadmap for nurturing Japan’s startup ecosystem.
The Case of the Missing Startups
University and government venture funds play a much larger role in Japan than they do in Western countries. Yet we see fewer biotechnology startups here compared with, say, the United States, which is home to eight of the top 10 highest-funded ventures. Why?
Start It Up!
Starting a business anywhere is a demanding endeavor, but doing so in Japan presents its own particular set of hurdles and idiosyncrasies. For those who can navigate the process, however, there are many rewards to be had. Although the dynamics can vary widely depending on the industry, the top challenges facing startups in Japan include simply breaking into the market, language and cultural differences, the time it takes to build a customer base, bureaucratic requirements, and difficulties raising money.
Entrepreneurship in Japan and Beyond
When entrepreneurs consider entering the Japanese market, often they eye the nation’s capital as their starting point. The allure of Greater Tokyo, with its population of more than 35 million, is strong. But ask American Chamber of Commerce in Japan (ACCJ) Vice President-Chubu Robert Roche where you should start and he’ll invite you west, to the city of Nagoya.
Nagoya Means Business
Now more than ever, Nagoya means business. The Chubu region, and specifically the city of Nagoya, has attracted many large tech companies and manufacturers—from automotive to aerospace—because it offers a skilled and talented workforce, affordable land, and a competitive cost of living. With a dedicated focus on creating an innovation ecosystem, Japan’s fourth-largest city has become an attractive location for small business owners and entrepreneurs.
Make Japan a Startup Nation
If you had two minutes with the new prime minister, to give your best-shot advice on how to create a better economic future for Japan, what would you say? From a macro perspective, by far the best answer is: Do whatever you can to make Japan a startup nation. But where does economic growth come from? Not from the stuff politicians and technocrats talk about most of the time—e.g., monetary, fiscal, or trade policy. And importantly, it doesn’t come from population growth. It comes from entrepreneurs.