Navigating the Japanese market is no small feat, especially for startups in Asia. However, the opportunities for growth and collaboration make expanding business to Japan a venture worth pursuing.
Kazumi Kiewai Khoo, Director of Innovation Promotion at JETRO (Japan External Trade Organization), sheds light on the landscape and shares valuable insights on how startups can successfully expand their business to Japan.
Highlights
Exploring the Japanese Market
Japan is a unique market that poses challenges for Asian startups. According to Kazumi, “Japan is, I would say, a challenging market for most startups from Asia, but it’s definitely a market worth exploring for more opportunities.”
With a rich history in manufacturing, Japan offers ample opportunities for collaboration, especially in emerging industries such as sustainability and net carbon zero initiatives.
JETRO’s Role in Promoting Innovation
JETRO plays a crucial role in fostering international collaboration. Kazumi explains, “JETRO has many supporting programs and activities in different countries to create collaborations and networking opportunities for local startups or tech-based companies.”
By connecting startups with Japanese corporate companies, JETRO facilitates open innovation and actual collaborations, whether for the overseas market or the Japanese market.
Tapping Into Japan’s Growth Opportunities
The Japanese market is renowned for its strength in manufacturing, but there is also significant growth in other sectors. Kazumi highlights the opportunities in industries related to sustainability and net carbon zero, which are rapidly gaining traction in Japan.
“There are a lot of growing industries in Japan like the sustainability-related industry as well as net carbon zero industry-related,” she notes.
For startups looking to tap into these opportunities, Kazumi offers practical advice: “All the services provided by JETRO are free, and we welcome anyone to approach us. We have offices in 55 countries, so just reach out to any of our offices in your home country.”
Advice for Startups Expanding Business to Japan
Kazumi emphasizes the importance of preparation when considering expanding business to Japan.
“Japan is not easy, but definitely, there are opportunities there because there are 47 prefectures. Do your homework, look for us to study more before you come to Japan.”
For startups eyeing expansion to Japan, thorough research and leveraging JETRO’s resources are key to unlocking the market’s full potential.
