Fostering Local Economic Growth: The Role of Japanese Startups

Co-developed by the Catalyzer Think Tank divergent thinking and Gemini Deep Research tool. 

1. Executive Summary

Japanese startups are increasingly recognized as vital engines for driving local economic growth across the nation. This impact is achieved through a confluence of factors, including proactive government support aimed at fostering innovation and regional development, dedicated initiatives focused on revitalizing local economies beyond major metropolitan areas, and strategic investments in emerging sectors that leverage regional strengths. While challenges such as cultural insularity and historical domestic market focus persist, the evolving landscape presents significant opportunities for startups to contribute to regional prosperity through job creation, technological advancements, and the attraction of talent. This report provides a comprehensive overview of how Japanese startups are fostering local economic growth initiatives, drawing upon recent analyses and developments within the ecosystem.

1. Introduction: The Awakening of Japan’s Startup Ecosystem and its Regional Economic Impact

Japan’s economic trajectory, historically shaped by the dominance of large, established corporations, is undergoing a significant transformation as the nation increasingly acknowledges the crucial role of startups in driving future growth and innovation.1 In an era characterized by rapid technological advancements and evolving global markets, the agility and innovative spirit of startups are seen as essential for injecting dynamism into the economy. Moreover, with ongoing demographic shifts leading to the concentration of population and economic activity in major urban centers like Tokyo, there is a growing emphasis on leveraging the potential of startups to address regional economic disparities and workforce challenges in other parts of the country.2 Startups are not merely viewed as new businesses but as catalysts for revitalizing local industries, creating high-value jobs, and fostering a culture of innovation that can have a profound and lasting impact on regional economies.3 This report will delve into the various ways in which Japanese startups are contributing to these local economic growth initiatives, examining the supportive framework established by the government, the emergence of regional innovation hubs, the trends in investment fueling these ventures, the key strategies adopted by startups, and the challenges and opportunities that lie ahead.

III. Government Support as a Cornerstone for Local Startup Ecosystem Development

The Japanese government has strategically prioritized the fostering of a vibrant startup environment as a key component of its broader economic policy, recognizing its potential to drive both national innovation and regional economic growth.4 A central pillar of this strategy is the “Five-Year Startup Development Plan,” launched with the ambitious goal of creating 100 unicorns and 100,000 startups across Japan.4 This comprehensive plan is built upon three key objectives: (1) cultivating human resources and networks conducive to startup creation, (2) enhancing funding opportunities for startups and diversifying their exit strategies, and (3) actively promoting open innovation.6 To achieve these goals, the government has allocated a substantial budget, with plans to mobilize approximately 1 trillion yen (€6.3 billion EUR) in direct funding and to stimulate a tenfold increase in overall startup investment, aiming for a total of 10 trillion yen (€63 billion EUR) by 2027.7 The plan encompasses a wide array of initiatives, including the expansion of mentorship programs to guide aspiring entrepreneurs, the promotion of university-led startups through the “One University One Exit” movement, and support for startup creation across all levels of education.6 Furthermore, the government is actively working to attract international talent and investment through the “Global Startup Campus Concept” and by streamlining visa processes for foreign entrepreneurs and investors.6 Beyond national-level initiatives, the government is also focusing on regional growth through programs like STARTUP CITY HOKKAIDO, which aims to bolster the startup ecosystem outside major metropolitan areas such as Tokyo.4 Similarly, the Tokyo Metropolitan Government introduced the 10x10x10 Innovation Vision in 2022, setting a goal to multiply the number of unicorns, startups, and public-private partnerships in Tokyo tenfold by 2027, with a focus on establishing Tokyo as a leading global innovation hub while also nurturing local entrepreneurship.7 The government’s commitment is further demonstrated through various programs like the J-Startup Program, designed to help promising startups scale globally, the Startup Visa, facilitating entry for foreign entrepreneurs, the Global Acceleration Hub, supporting the international expansion of Japanese startups, and Deep Tech Startup Support Programs, targeting critical sectors like climate tech and pharmaceuticals.10 This multifaceted approach underscores the government’s strategic intent to cultivate a dynamic and geographically diverse startup ecosystem that serves as a powerful engine for local economic development.

1. Regional Economic Revitalization: Startups as Catalysts for Growth Beyond Metropolitan Centers

Recognizing the need to foster economic growth in regions beyond the major metropolitan centers, Japan has witnessed the emergence of various innovation hubs and regional-specific initiatives aimed at attracting and supporting startups.2 A prominent example in the capital is the Tokyo Innovation Base (TIB), established as a key infrastructure component to create a supportive environment for startups to flourish and to connect them with global resources, thereby facilitating collaboration between entrepreneurs and investors.4 TIB serves as a dynamic hub, hosting boot camps like JAM CAMP designed to spark innovation among students and offering premium mentoring programs featuring insights from prominent figures such as Audrey Tang.11 More than just a physical space, TIB acts as a global innovation node, providing concierge services, mentorship, and actively fostering collaborations between startups and established corporations through networking events that have facilitated over 10,000 interactions among local and international stakeholders.5 Outside of Tokyo, initiatives like STARTUP CITY HOKKAIDO in Sapporo are focused on strengthening the regional startup ecosystem by operating community spaces, running acceleration programs, and leveraging Hokkaido’s unique strengths in sectors like green technology, with the aim of becoming a “GX Financial and Asset Management Special Zone” capitalizing on the region’s renewable energy potential.2 The impact of these regional initiatives is evident in the emergence of startups like AGRIST in Shintomi, Miyazaki Prefecture, an agritech company utilizing AI and robots in agriculture to address local labor shortages.2 Another example is ASOVIEW, which is leveraging digital platforms and Japan’s Furusato Nozei system to boost tourism in less well-known regions, thereby revitalizing local economies.2 Furthermore, cities like Fukuoka and Kobe have also proactively established support facilities, mentorship programs, and even regulatory exemptions to cultivate their own startup-friendly environments.2 These regional efforts demonstrate a strategic shift towards decentralizing startup activity and capitalizing on the diverse assets and industry specializations present across Japan to drive localized economic growth and address specific challenges unique to each region.

1. Investment in Emerging Sectors: Fueling Local Innovation and Expansion

The growth of Japanese startups and their ability to foster local economic development are significantly influenced by trends in investment, encompassing both domestic and international capital.18 Notably, there has been a substantial rebound in Japanese investments in Southeast Asia’s fintech sector, with an 80% increase reported in 2022, indicating a growing appetite for regional expansion among Japanese startups.4 Moreover, the Japanese startup ecosystem is increasingly attracting foreign investment, which plays a crucial role in enhancing the capabilities and market reach of local startups.4 While overall startup funding in Japan remained relatively stable in 2024 with a 3% year-over-year increase, there was a notable rise in larger deals and increased activity from prominent foreign venture capital firms.18 Although total funding experienced a slight dip in 2024 compared to the previous year, key indicators such as the median and average funding per company actually increased, suggesting a trend of investors making larger, more strategic investments in a smaller number of promising ventures.19 This is further supported by the continued interest from overseas venture capital, highlighting a growing global recognition of the potential within the Japanese startup landscape.3 While venture capital equity funding in Japan remains relatively modest compared to some peer nations, the increasing flow of overseas investment, which has grown more than sevenfold over the past decade, signifies a positive trajectory.20 Corporate investors also play a significant role in the Japanese startup ecosystem, contributing a substantial portion of the total venture capital investment.20 Investment activity is concentrated in key sectors, with information technology (IT) and healthcare consistently attracting the most capital.3 However, there is a growing interest and investment in emerging areas such as the space sector, which saw multiple startup IPOs in 2024, and in software-as-a-service (SaaS) and Generative AI, which have shown strong performance in attracting investor attention.18 Furthermore, regionally focused sectors like agritech and biotech are also witnessing increasing investment, as demonstrated by the emergence of startups like AGRIST in Miyazaki and the development of biotech hubs in regions like Kansai.2 This diversification of investment across various sectors and regions indicates a broadening impact of startup activity on local economies throughout Japan.

1. Key Strategies and Approaches Adopted by Startups to Foster Local Economic Growth

Japanese startups are actively employing various strategies that contribute directly to the economic vitality of their local communities. A significant contribution is through job creation, with startups across Japan estimated to have generated 520,000 jobs, demonstrating their crucial role in fostering employment opportunities at the local level.2 Furthermore, startups are at the forefront of driving innovation and technological advancements that are directly relevant to local industries. For instance, AGRIST in Shintomi has developed AI-powered robots that automate labor-intensive agricultural tasks, potentially increasing efficiency and yield for local farmers.17 In the broader agritech sector, startups are integrating cutting-edge technologies like drones, Big Data, IoT, and genetic engineering to enhance farming practices and sustainability.22 In the renewable energy sector, startups are developing and deploying technologies such as perovskite solar cells and contributing to the expansion of offshore wind power in regions like Akita and Aichi, fostering local energy independence and creating new industries.27 Small-scale geothermal power plants developed by startups in areas with hot spring resources, such as Fukushima, Kumamoto, and Oita, not only provide clean energy but also attract tourism, benefiting the local hospitality sector.28 Beyond technological innovation within specific industries, startups are also playing a role in facilitating regional expansion and attracting talent to local areas. While some startups are expanding their operations internationally, creating opportunities in other regions 4, the development of vibrant startup ecosystems in regional cities is itself proving to be a strategy for attracting and retaining talent, thereby addressing workforce shortages.2 Japan is also actively seeking to attract digital nomads, whose presence can inject significant spending and diverse skills into regional economies.29 Moreover, startups are often founded with the specific aim of addressing local challenges and needs. For example, ASOVIEW is helping regional leisure operators overcome the difficulties of digital transformation, enabling them to reach a wider customer base and boost tourism in their communities.17 This focus on local relevance ensures that the growth generated by startups is directly contributing to the well-being and prosperity of the regions in which they operate.

VII. Challenges and Opportunities in the Japanese Startup Ecosystem for Local Economic Growth

Despite the growing momentum and positive impact of Japanese startups on local economies, several challenges remain. One notable challenge is the historically insular nature of Japanese society, which can sometimes hinder the integration of diverse talent and limit global collaboration.4 Additionally, the traditional focus of Japanese startups on the domestic market has, in the past, posed a barrier to attracting foreign venture capital and fully capitalizing on international growth opportunities.20 Furthermore, the benefits of Tokyo’s central location appear to be more pronounced for startups in the ICT sector compared to those in other industries or regions, suggesting potential geographical disparities in access to resources and markets.30 However, these challenges are being met with significant opportunities. The increasing government support through initiatives like the Five-Year Startup Development Plan provides crucial resources and a supportive framework for startups nationwide.4 The growing appetite for investment, particularly from overseas, signals a strengthening of the financial ecosystem for startups.4 Moreover, cultural shifts are underway, with younger generations demonstrating a greater inclination towards entrepreneurship and a more open attitude towards global collaboration and international expansion.31 This evolving cultural landscape creates a more fertile ground for innovation and growth. Specific sectors like green technology and biotechnology hold immense potential for driving future local economic growth. Hokkaido’s strategic focus on becoming a GreenTech hub, leveraging its renewable energy resources, presents a significant opportunity for startups in this sector.15 Similarly, the Kansai region’s ambition to revitalize its economy through biotech ventures, capitalizing on its existing pharmaceutical industry and research institutions, indicates a promising path for startups in the life sciences.33 By addressing the existing challenges and capitalizing on these emerging opportunities, Japanese startups are poised to further amplify their positive impact on local economic growth across the country.

VIII. Sectoral Deep Dive: Startups Making a Significant Impact on Local Economies

• A. Agritech: In regions outside of Tokyo, agritech startups are playing a pivotal role in revitalizing agricultural communities. AGRIST in Shintomi, Miyazaki Prefecture, exemplifies this trend by using AI-powered robots to automate cucumber harvesting, directly addressing the critical issue of labor shortages in the aging agricultural sector.17 Beyond this specific example, the agritech landscape in Japan includes startups like TOWING, which is developing innovative “High-performance Soil” technology aimed at enhancing soil productivity and fertilizer absorption.22 Sagri is leveraging satellite data and AI to analyze farmland conditions, helping farmers optimize land use and reduce wasted resources.22 Kisuitech offers a suite of automated robots and AI-driven solutions for various farming tasks, including harvesting and pest monitoring.22 GRA&GREEN specializes in precise genetic modification techniques to improve crop yields and quality.22 Furthermore, startups like Tenchijin are using satellite and AI analysis to recommend optimal crop varieties and cultivation methods based on location-specific data 23, while Terracemile provides digital infrastructure to help agricultural companies manage and analyze their data for improved performance.23 These agritech startups are collectively contributing to increased efficiency, sustainability, and profitability within the agricultural sector, which is often a cornerstone of regional economies in Japan.
• B. Biotech: The biotechnology sector is emerging as a significant driver of local economic growth, particularly in regions like Kansai and around Shonan iPark. The Kansai region has set its sights on becoming an international life science hub, with initiatives like the Kobe Medical Industry Development Project focusing on regenerative medicines and medical devices, and the Saito Life Science Park concentrating on new drug development through genome and protein analysis.33 The Kansai Startup Academia Coalition (KSAC) further supports this ambition by fostering collaboration between universities, industries, and government to nurture university-based startups in life sciences, clean energy, and new materials.25 In Kanagawa Prefecture, Shonan Health Innovation Park (Shonan iPark) stands as Japan’s largest biotech industry cluster, providing a collaborative environment for pharmaceutical companies, bio-ventures, and academia to accelerate health innovation in areas such as next-generation medicine, cell therapy, and gene therapy.34 Shonan iPark has also established collaborations with South Korean biotech startups, further enhancing its role as a global hub.34 Additionally, the Tsukuba and Kashiwa-no-ha areas, renowned for their scientific research institutions, are witnessing the growth of a vibrant life science ecosystem, with collaborations between Astellas Pharma, BioLabs, and Mitsui Fudosan aiming to accelerate open innovation in drug discovery and foster the creation of new biotech startups.38 These biotech initiatives hold the potential to create high-skilled jobs, attract significant investment, and establish Japan as a leader in cutting-edge medical and pharmaceutical advancements, thereby boosting local and national economies.
• C. Renewable Energy: Startups in the renewable energy sector are making increasing contributions to local economies outside of Japan’s major cities, aligning with the national push towards sustainability. The development of advanced technologies like perovskite solar cells, in which Japan holds a strategic advantage in material production, is being spearheaded by startups and supported by government initiatives, potentially leading to widespread adoption and new manufacturing opportunities in various regions.27 The expansion of offshore wind power projects in areas like Akita and Aichi is also creating opportunities for local industries and employment in the renewable energy sector.27 Small-scale geothermal power generation plants, particularly binary cycle plants suitable for utilizing lower-temperature geothermal resources, are being successfully implemented in onsen resorts in regions like Fukushima, Kumamoto, and Oita. These initiatives not only provide a clean energy source but also can revitalize local tourism by attracting visitors interested in these innovative technologies.28 The concept of agrivoltaics, where solar power generation is combined with agriculture, is gaining traction across Japan, offering farmers a stable income stream from renewable energy while allowing them to continue agricultural production.40 Furthermore, local communities are also taking the initiative, as seen in Miyazu’s experiment with community power projects focused on renewable energy sources.41 These renewable energy startups are leveraging regional natural resources and contributing to Japan’s goals of reducing carbon emissions and achieving greater energy independence, all while fostering economic activity in local communities.

1. The Role of Community and Non-Profit Organizations in Nurturing the Startup Ecosystem

Beyond the efforts of the government and private investors, a network of community-led initiatives and non-profit organizations plays a vital role in supporting the growth and local economic impact of Japanese startups. Organizations such as the CIC Institute collaborate with government bodies, local authorities, and universities to provide expertise in building innovation ecosystems and supporting startups, particularly those in deep tech.42 The Development Bank of Japan Inc. (DBJ) operates a Startup Support Center in partnership with the Japan Economic Research Institute, aiming to nurture growth businesses that drive social and economic change by assisting startups in their expansion efforts.43 Innovation hubs like AN Ventures and Shonan iPark provide crucial investment and support for early-stage ventures, helping to bridge the gap between academic research and commercialization.44 Furthermore, grassroots communities such as AISalon Tokyo and Tokyo AI have emerged, fostering networking and knowledge sharing among entrepreneurs and engineers.44 These organizations offer various forms of support, including mentorship programs like the “TIB Premium Mentoring” at the Tokyo Innovation Base, which connects startups with experienced entrepreneurs and managers.12 Collaborative platforms like the Tokyo Consortium, established by the Tokyo Metropolitan Government, bring together startups, investors, incubators, and other stakeholders to accelerate the growth of the ecosystem.45 The increasing prevalence of incubators, accelerators, and co-working spaces across Japan provides physical and virtual environments where entrepreneurs can connect, exchange ideas, and access essential resources.32 By fostering collaboration, providing mentorship, facilitating access to funding and infrastructure, and creating a supportive community, these organizations are instrumental in enabling startups to thrive and contribute to local economic development. The numerous interactions facilitated at hubs like TIB, exceeding 10,000 between local and international stakeholders, underscore the importance of these community-driven efforts in building a vibrant and interconnected startup ecosystem.4

1. Conclusion: The Promising Future of Japanese Startups in Driving Regional Prosperity

In conclusion, Japanese startups are playing an increasingly significant role in fostering local economic growth initiatives across the country through a variety of interconnected mechanisms. The strong support from the Japanese government, manifested in comprehensive plans and targeted programs, provides a foundational framework for the development of a thriving startup ecosystem. Regional initiatives, exemplified by innovation hubs like the Tokyo Innovation Base and STARTUP CITY HOKKAIDO, are strategically designed to decentralize startup activity and leverage the unique strengths of different regions. The growing influx of both domestic and foreign investment is fueling the expansion of startups in diverse sectors, including agritech, biotech, and renewable energy, which are proving to be particularly impactful in revitalizing local economies. Startups are employing key strategies such as job creation, technological innovation relevant to local industries, regional expansion, and addressing specific community needs. While challenges related to cultural norms and global engagement persist, the evolving cultural landscape, coupled with increasing investment and a focus on high-potential sectors, presents substantial opportunities for future growth. The collaborative efforts of community-led and non-profit organizations further strengthen the ecosystem by providing essential support and fostering knowledge sharing. Looking ahead, Japanese startups hold immense potential to be key drivers of sustainable and inclusive local economic development, contributing not only to economic growth but also to the resolution of regional disparities and the creation of a more vibrant and innovative Japan.

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