#Japan #Fintech #Tokyo #ScaleOut #Barcelona Finance Hub

ScaleOut and Barcelona Finance Hub Form Strategic Partnership

On April 1, 2025, ScaleOut Inc. (Headquartered in Tokyo, Japan) announced a new partnership with Barcelona Finance Hub (BFH), operated by COSPACE, S.L. Based in Barcelona and led by CEO Gabriel Espín Ordas, this collaboration focuses on facilitating mutual market entry for fintech startups between Japan and Spain, aiming to accelerate activities in the fintech sector.

This partnership builds on a Memorandum of Understanding (MOU) signed last year with the 22@Network Barcelona, an ecosystem designed to foster innovation and interconnectedness in various industries.

The Importance of Market Expansion for Startups

For startups to successfully grow, it is essential to not only thrive in local markets but also to explore international opportunities. However, entering foreign markets poses significant challenges, especially for startups with limited resources. Success in a home market does not guarantee the same approach will be effective abroad, given the varying cultures and business practices. Therefore, a deeper understanding of local customs and consumer behaviors is crucial to develop tailored strategies.

Instead of a high-stakes gamble, adopting a systematic trial-and-error approach similar to launching a business in the local market would be beneficial. This involves constructing hypotheses for foreign markets, meticulously validating them, and identifying initial target customer groups and their needs through in-depth research.

Challenges Faced by Early-Stage Startups

Nonetheless, many early-stage startups lack the necessary resources or networks to implement these approaches in international markets. While some may hire local representatives on a contract basis, these efforts can often lead to one-sided sales pitches limited to personal networks. Additionally, even when connecting with local companies during events or trade shows, a comprehensive understanding of each other's business models and strengths often remains superficial, stalling genuine market insight.

To overcome these obstacles, ScaleOut and the Barcelona Finance Hub are strengthening their collaboration. Leveraging ScaleOut’s wealth of experience in executing innovation practices and launching new businesses in Japan, the partnership is poised to create an environment conducive to startup growth. This initiative also includes the "Journey to Alliance and Beyond" program (JAB), which supports foreign startups seeking to enter the Japanese market by visually demonstrating market viability and growth potential through hypothesis verification conducted by Japanese enterprises.

ScaleOut’s Expertise and Approach

ScaleOut has successfully advised many businesses on new venture development based on lean startup principles. Its practical and structured methods have provided clarity to what is often an implicit process in new business development, promoting transparency and reproducibility that can help establish a sustainable startup environment.

With a strong network and proven track record, ScaleOut will facilitate co-creation between overseas startups wishing to enter the Japanese market and local enterprises. Additionally, Japanese professionals proficient in lean startup methodologies will actively construct and validate business model hypotheses to explore market development opportunities for these international startups. ScaleOut is also investing in globally minded startups emerging from Japan, further supporting collaborative efforts between Japanese firms and foreign startups, while working with global partners to assist Japanese startups in their international expansion.

Barcelona Finance Hub’s Role

Barcelona Finance Hub is an innovation space and community focused on fintech, operated by COSPACE. With a mission to connect entrepreneurs and organizations through community engagement and cooperation, BFH, under the "Aticco" brand, facilitates coworking, coliving, and innovation labs, boasting over 6,000 members from more than 350 companies.

Through this partnership, ScaleOut’s insights into innovation practices and networks will synergize with BFH’s startup community and regional influence, aimed at enabling overseas startups interested in the Japanese market to scale up and fostering collaboration with Japanese companies versed in lean startup principles.

Comments from Leadership

Keijiro Yamagata, Joint CEO of ScaleOut, expressed excitement over commencing projects focused on the fintech sector under the JAB program. He sees this partnership as a means to accelerate open innovation between fintech startups in Barcelona and Japanese companies. Quino Fernández, Director of Barcelona Finance Hub, echoed these sentiments, highlighting the creation of strategic pathways for European startups to explore opportunities in Japan while facilitating collaboration with Japanese firms.

In conclusion, this partnership not only propels the internationalization of startups but also serves as a catalyst for innovation between Japan and Europe, fostering a dynamic ecosystem for mutual growth.