The bridge to success: JETRO paves the way for Japanese startups in India.
JETRO, which showcased five startups at TechSparks 2023, aims to facilitate the entry of promising Japanese companies into the bustling Indian market.
In an era where technology transcends borders and entrepreneurial spirit knows no bounds, organisations dedicated to fostering global trade and investment are playing an increasingly crucial role. Among these entities, Japan External Trade Organization (JETRO) has been at the forefront of facilitating connections between Japanese entities and their international counterparts, creating opportunities for collaboration and growth.
Established in 1958 with the primary goal of promoting Japanese exports, JETRO has evolved over the years to become a vital force in supporting Japanese startups on their journey to international success.
JETRO recently partnered with TechSparks Bengaluru to help five promising Japanese startups gain exposure in the bustling Indian market. However, the significance of this partnership extends far beyond just facilitating market entry.
Let us explore how JETRO can enhance your business, its potential offerings, and the burgeoning landscape of innovative startups that will shape India's future.
Bridging the gap for Japanese startups
Since its transformation in 2013, JETRO has become a driving force behind thousands of Japanese startups looking to scale operations globally. With a mission to build startup-driven ecosystems in Japan, JETRO connects these innovative ventures with top-tier mentors, investors, and corporates worldwide. Its support extends across various dimensions, making it a valuable partner for any ambitious startup.
The organisation has an impressive track record, with over 700 startups accelerated, 85 achieving significant traction, 35 reaching unicorn status, and connections exceeding 2,000. With 15 acceleration programmes and over 3,000 mentoring sessions, JETRO is deeply invested in nurturing the growth of these startups.
Japan's ambitious startup plans
The Japanese government has placed great emphasis on nurturing startups, positioning 2022 as the first year of startup creation. The 'Startup Development Five-year Plan’ aims to increase investment tenfold to 10 trillion yen by FY 2027, create 100 unicorns, and foster 100,000 startups, ultimately establishing Japan as a leading startup hub in Asia and the world. As part of this vision, 1 trillion yen was allocated to support startups in the FY2022 supplementary budget.
India's startup ecosystem
In recent years, India has garnered attention from nations across the globe due to its massive population and for being the third largest startup ecosystem. As a hub of innovation and technology, the country presents a goldmine of opportunities for startups to establish themselves and thrive. JETRO recognises the potential of this vibrant market and is determined to facilitate the entry of Japanese startups.
JETRO at TechSparks 2023
With JETRO's ongoing commitment to promoting Japanese startups on the global stage and TechSparks Bengaluru's dedication to nurturing innovation, five promising Japanese startups were showcased at TechSparks 2023.
These startups are prime examples of how JETRO is leveraging its resources to foster economic growth and collaboration in India and bringing in a diverse array of innovative solutions to the Indian market.
- AWL: utilizes AI edge computing to enhance safety, security, business efficiency, creative marketing, and customer service capabilities.
- Findy: empowers engineering organisations growth by visualizing and enhancing the productivity of the development teams and also provides a skill-based recruiting platform with a community of high-skilled engineers.
- Ginco: is a Web3 Development Company focusing on blockchain infrastructure that provides a one-stop service ranging from various B2B products, such as wallet APIs and SDKs, to PoC consultations and is trusted by some of the largest financial institutions and Web3 companies.
- I'mbesideyou: has developed an online communication platform utilising video analysis AI to elevate the quality of online interactions.
- VRARRI: 's training simulations, accessible on multiple devices, aim to reduce on-the-job training time across various industries.
The partnership between JETRO and TechSparks Bengaluru is the convergence of two vibrant ecosystems -Japan's thriving startup landscape and India's burgeoning tech hub. It symbolises the power of collective effort, as it brings together two organisations from different countries to create a meaningful impact.
As these five startups begin their expansion into the Indian market, they symbolise the limitless prospects in the constantly evolving domains of technology and entrepreneurship. With JETRO's unwavering dedication to advancing Japanese startups on a global scale and nurturing innovation, we foresee remarkable accomplishments on the horizon in India.
If you want to delve deeper into JETRO and its initiatives, please www.jetro.go.jp.