I’ve all the time envisioned Japan as a rustic the place the vast majority of individuals are risk-averse—a rustic the place stability is prioritised, with the norm being to affix giant, established firms and pursue a path of “lifetime employment.”

So naturally, I by no means anticipated Japan to have a thriving startup ecosystem, nor did it ever come to thoughts that it may very well be a spot the place entrepreneurship thrives. That’s, till I used to be invited to attend the SusHi Tech Tokyo 2024 International Startup Programme about three weeks in the past.

However even then, I’ve to confess—I by no means really grasped the size of Japan’s strides in the direction of innovation and entrepreneurship till I skilled it firsthand.

However first, what’s SusHi Tech Tokyo?

An abbreviation for “Sustainable Hellogh Metropolis Tech”, SusHi Tech Tokyo 2024 is a one-month occasion from April 27 to Could 26 consisting of three applications: International Startup Programme, Metropolis Leaders Programme, and Showcase Programme.

The International Startup Programme, which is touted to be Asia’s largest innovation convention, came about over two days, Could 15 and 16, at Tokyo Large Sight.

The primary day commenced at 10:30am. I headed there about an hour earlier for a media tour of the convention corridor, however even then, the venue was already bustling with attendees.

With how busy the place was, it was exhausting discovering a seat for Governor Yuriko Koike’s opening speech, the place she expanded on the objectives of SusHi Tech Tokyo 2024.

Based on Governor Koike, the occasion is a part of Tokyo’s formidable “10 by 10 by 10” initiative, which targets vital development throughout three key metrics by 2028: a tenfold enhance in unicorns rising from Tokyo, a tenfold rise in startups originating from the town, and a tenfold increase in public-private collaborative tasks with startups.

Throughout her speech, the Governor additionally introduced the official opening of the Tokyo Innovation Base (TIB), a startup campus the place entrepreneurs can forge strategic partnerships with key trade gamers in Tokyo.

I had the chance to go to TIB the day earlier than—situated within the coronary heart of Tokyo, it options three entire flooring of co-working areas and even a operate corridor for occasions. Startups, it doesn’t matter what stage they’re of their journey, can entry invaluable companies right here, from pitch coaching classes to one-on-one consultations.

Traversing a sea of startups and VCs

After the Governor’s opening speech, I discovered myself wandering aimlessly by the varied sections of the conference corridor.

I walked previous an investor pavilion, an area the place startups can simply community and join with VCs from all around the globe; a “market” pavilion, the place international locations like Hong Kong, Switzerland, and France obtained to showcase their dynamic startup ecosystems and expose their homegrown startups to world enterprise alternatives; and even a pupil pavilion, offering alternatives to college students who’re to change into an entrepreneur.

Rows of startup cubicles have been additionally scattered all through the conference corridor. Amid the bustling crowd, I shortly discovered myself misplaced within the sea of startups; in spite of everything, over 490 native and worldwide corporations from 40 cities have been exhibiting their newest improvements on the area.

One standout was Entomal, a Malaysian startup that makes use of bugs to deal with waste and make pet and human meals. I used to be supplied a style of their insect larvae chips; though they smelled actually good, I handed, however different attendees who tried them assured me they tasted nice, so I took their phrase for it.

Entomal was additionally one of many 5 Southeast Asian startups to make it to the semi-finals of the SusHi Tech Problem — Asia’s largest pitch contest — which additionally was held throughout International Startup Programme. Although they progressed to the finals, Fermentstation, a Japanese fermentation expertise startup, in the end clinched the grand prize of JP¥10 million.

After what appeared like hours, I lastly made my option to the demo cubicles—areas the place startups can showcase their creations, like Japanese startup ICOMA‘s foldable electrical bike, and Pocket RD‘s Avatarium—a totally automated manufacturing and enhancing platform that lets you create a hyper-realistic 3D avatar of your self inside minutes, full with intricate particulars like articulated fingers, through the use of only a couple pictures.

A promising period of development for Japan

After spending a lot of the first day speaking to founders, I devoted the vast majority of the second day to attending keynote classes.

Over 40 keynote classes have been held within the convention corridor, with greater than 130 audio system protecting subjects spanning the worldwide startup panorama and the way international locations like Japan can foster a growth-orientated setting for innovation and startups.

At one session, Marc Penzel, the founding father of analysis and coverage advisory organisation Startup Genome and enterprise capitalist Mike Jackson, took to the stage to share insights on the evolution of the worldwide startup ecosystem over the previous decade, and the way Japan is poised for a startup growth.

Different audio system mentioned the function of accelerators and startup ecosystems across the globe (like Singapore’s BLOCK71 and Japan’s TIB) in driving the success of startups. 

To shut issues off, Governor Koike reiterated Japan’s efforts to combine extra deeply into the worldwide startup panorama—the following stage in its startup ecosystem improvement and innovation technique. 

As I sipped on my cup of iced espresso from Root C (which I obtained from an AI-powered robotic merchandising machine on the venue), it lastly dawned on me that Japan’s startup scene is present process a dynamic transformation.

Though Japan’s startup world nonetheless stays small by world requirements, the nation has a lot extra potential. In a rising financial system amid an ageing society, there are multifaceted wants for innovation—and there may be loads of room for individuals who need to discover and innovate.

With authorities incentives and a five-year plan that features visa reforms and tax advantages, the native ecosystem anticipates a surge in funding, worldwide collaboration, and alternatives for entrepreneurs, signalling a promising period of development for the nation.

In any case, I’m wanting ahead to what’s subsequent in retailer for SusHi Tech Tokyo subsequent 12 months. I’m glad to have gained publicity to the Japanese startup scene (because of TMG, and the fantastic folks behind The Hoffman Company) and I anticipate much more revolutionary concepts, inspiring entrepreneurs, and thrilling developments within the coming years.

Featured Picture Credit score: Tokyo Metropolitan Group