#Japan #Tokyo #Global Innovation #Startup #SCALEUP

Tokyo's Enhanced Startup Strategy: A Bold Step Forward

Introduction
In November 2022, Tokyo launched its upgraded startup initiative called the Global Innovation Strategy 2.0 STARTUP & SCALEUP, building upon the original framework established under Global Innovation with STARTUPS (Strategy 1.0). This new strategy intensifies the collaborative spirit embodied in its motto, “Everyone Creates Together,” aiming at a 10x growth across key metrics over the next five years.

Objectives of Strategy 1.0

Originally, Strategy 1.0 aspired to achieve a transformative vision termed the “10x10x10 Innovation Vision,” which projected a three-fold increase in each of the following domains:

• - Number of unicorns originating from Tokyo (a tenfold increase)
• - Startup creation within the region (expanding the entrepreneurial base tenfold)
• - Collaborative practices with startups and public-private partnerships (a tenfold rise)

Transition to Strategy 2.0

With the advent of heightened global competition and rapid AI advancements reshaping societies, Tokyo has made a strategic pivot by igniting the second stage of its innovation journey with Strategy 2.0. This updated approach is anchored on two key pillars: Scaling Up Startups and fostering essential Platforms such as TIB and SusHi Tech.

Core Initiatives of Strategy 2.0

Growth through Scale-Up
To achieve the ambitious targets set forth, Strategy 2.0 emphasizes the scaling up of startups that can offer significant social and economic benefits. It also supports platforms that have recently launched post-Strategy 1.0, including TIB and SusHi Tech. The strategic focus is to facilitate rapid growth for outstanding startups while engaging large corporations, SMEs, universities, and research institutions. This approach aims to harness Japan's strengths and promote global innovation that spreads widely.

Empowering Future Generations
By supporting the youth, children, and all challengers, the strategy aims for a sustainable society that enhances the quality of life for Tokyo residents.

Key New Measures

To accelerate these strategic goals, 26 new initiatives will be introduced alongside the 40 efforts already in place under Strategy 1.0. These measures can be categorized into several coherent strategies:

• - Global Scaling Up: Initiatives like SusHi Tech Global aim at nurturing growing companies, fostering open innovation within large and medium enterprises, and linking innovations from universities to business applications.

• - Expanding Opportunities: Programs like TIB KIDS are designed to encourage challenges for children across various fields.

• - Public-Private Partnerships: Expanding public procurement activities and first-customer initiatives nationwide facilitates the speedy application of startup technologies to tackle societal challenges.

• - Networking Platforms: TIB aims to be a convergence point for aspiring challengers, while SusHi Tech will transform Tokyo into a vibrant field of innovation, exporting its ethos globally.

Conclusion

All these efforts contribute to the broader 2050 Tokyo Strategy, with an outlook focused on continual innovation that positions Tokyo as a global leader in transformation and growth. The journey from Strategy 1.0 to 2.0 reflects Tokyo's commitment to fostering an environment where innovation thrives and collaboration leads to unparalleled success.