#Japan #Tokyo #Startup #Global Exchange

Tokyo's Global Exchange Initiative

In a bid to strengthen its position as a hub for innovative startups on the global stage, Tokyo has recognized the importance of attracting talent and investments from across the world. To achieve this, the city is emphasizing the need for clear communication, free from language barriers, which is essential for vibrant global exchange.

As part of its strategy, Tokyo hosts Asia's largest global innovation conference, SusHi Tech Tokyo, demonstrating the city's dedication to facilitating international collaboration. In addition to these significant events, the Tokyo Metropolitan Government is implementing a new initiative, the Global Exchange Activation Project. This project aims to partner with private sector businesses to attract overseas professionals through targeted events.

Overview of the Initiative

The initiative invites private sector organizations and groups to submit proposals for events that promote the growth of startups and their global ecosystems by attracting international business professionals. Selected participants, referred to as affiliated businesses, will formalize their partnership with the Tokyo Metropolitan Government and, in collaboration with city officials, will execute events encouraging overseas business engagement before the end of February 2024.

Each participating organization will support the city's information dissemination efforts related to the events, working together to bolster the city's international exchange activities.

Types of Events Encouraged

Tokyo plans to select around five projects for this initiative, categorizing them into two main types:

1. Convention Type: This involves hosting standalone global events focusing on startups and innovation, inviting stakeholders from around the world. Examples include exhibitions and conferences.

2. Salon Type: This consists of ongoing events held in a consistent location, united by a common theme related to startups and innovation. Examples include regular workshops and community salons.

Applicants are encouraged to refer to the document outlining the selection results of the 2025 fiscal year for better insight during their application process.

Support from Tokyo

The Tokyo Metropolitan Government offers funding based on the achievement of the Key Performance Indicators (KPIs) established by affiliated businesses:

• - Convention Type: Up to ¥15 million (approximately $138,000)
• - Salon Type: Up to ¥7.5 million (approximately $69,000)

Additionally, support will encompass networking opportunities among affiliated businesses and management oversight on their progress.

Application Timeline

The application period is set to commence from May 20, 2024, and will conclude on June 22, 2024, at 5:00 PM.

Next Steps

Following the application period, the timeline is as follows:

• - June to July 2024: Evaluation and selection of affiliated businesses, with finalized agreements.
• - August 2024: Launch of initiatives and support for all selected participants.

Additional Information

For full details on the application process and requirements, interested parties should consult the Global Exchange Activation Project Participation Guidelines available on the project’s official website. This initiative is instrumental in advancing the 2050 Tokyo Strategy, particularly under Strategy 10, which aims to nurture startups that excel on a global scale.

By fostering such collaborations and engagements, Tokyo hopes to not only enhance its startup ecosystem but also contribute significantly to the global innovation landscape.