JAPANESEINVESTMENTSEXPANDINGTOTHENORDICS

1This guide gives you a quick introduction to the Japanese
investor ecosystem from a Nordic perspective: WhichJapanese investors are presently looking to the Nordics? Whatcharacterizes the Japanese investor ecosystem? And whichstartups have so far received Japanese investments?
The publication has been developed by Innovation Lab Asia,
NordicNinja VC and Copenhagen Capacity. Innovation Lab
Asia is a project collaboration between Asia House Denmark
and TechBBQ, supported by the Danish Industry Foundation.
NordicNinja VC is a Nordic & Baltic fund backed by Japanesetech giants Panasonic, Honda, Omron, and JBIC. Copenhagen

PREFACE

Capacity is the official organization for investment promotionand economic development in Greater Copenhagen.
Thus, this publication is a Nordic enterprise, reflecting ourgeneral vision; that all the Nordic countries will benefit byapproaching Japan as a unified entity. In doing so, we become

Japanese investors are increasingly looking to theNordics for tech-related opportunities, especiallyin Finland and Estonia. The purpose of this guide is
to further strengthen the connections between Japanand the Nordics, paving the way for new investor
collaborations and investments.

more visible and attractive to the Japanese stakeholders, and a
viable alternative to the large European countries.
For further information and guidance, contact:
ASIA HOUSEPeter Johansen

TECHBBQ
Lisa Mallner

NORDICNINJA VC
Claes Mikko Nilsen & Tomosaku Sohara

COPENHAGEN CAPACITY
Oliver Hall
2

3

A SMALL
BEGINNING
At first glance, one would expect Japan to have a booming startup ecosystem. It’s one of the world’s largest
economies and is home to Softbank, the world’s largest
tech investor. It’s a highly technologically advanced
society, with companies providing cutting-edge solutions to a global market. Finally, the Japanese areoften considered tech savvy as well as well-educated,
hardworking, and disciplined; all of which are qualities that lend themselves well to building successful
startups.

Yet, Japan has relatively few startups, and has only produced
3 or 4 unicorns, depending on how you count. Mercari, an
e-commerce platform, reached unicorn status in 2016, but
subsequently lost its status by filing for an IPO in 2018. Since
then, three other unicorns have followed: Preferred Networks(Deeptech), Liquid Group (Fintech) and SmartNews (Mediatech).
5

JAPANESEIN

INVESTMENTS

THE

STARTUPSJAPANESESTARTUPECOSYSTEM

3.500

0,08

•

Tokyo is the undisputed center of theJapanese innovation ecosystem

3.000

0,07

•

2.500

0,06

Tokyo ranks amongst the 12 upcoming
ecosystems globally (Startup Genome
2019)

•
2.000

0,05

Osaka, Kobe and Fukuoka are moving
fast to improve their local ecosystems

1.500

0,04

•

1.000

0,03

Only three Japanese unicorns’ figureon the present CB Insights list:
Liquid Group, SmartNews andPreferred Networks

500

0,01

0,00

0
2009 2010

2011

2012

2013 2014 2015

EUR Million

2016

2017

2018
% of GDPHow can a country that has pioneered so much advanced

There is a dire lack of venture capital and little seed money fortechnology not produce more valuable startups? And why

would-be disruptors. The total Japanese funding for startups

hasn’t the Softbank Vision Fund placed a single bet in its homesince 2000 has been 1/37 of US spending: EUR 3.2 billion

country?

in Japan compared to EUR 116 billion in the US. Although
Japanese funding is on the rise, their GDP ratio of startup

Many observers point to the fundamental issue of Japan being

investments is still only 0.07%, compared to 0.3% and 0.4% in

a risk-averse society. Japanese employees prefer to work in

the USA and China respectively. Thus, many startups are forced

large corporations with a high level of security and stability,

to go public too early, driving down the possibilities of gettingand Japanese investors prefer trusted or listed companies.

big investments. Unsurprisingly, most Japanese innovation
comes from within established companies.

6

7

JAPANESE INVESTMENTS
TO THE NORDICS (2013-2018)

				

FINLAND
•
•
•
•
•
•
•
•

NORWAY•

Exabel Sanden (Investment)

3rd Eye Studios Oy Ltd ColoplNext (Investment)
Broadbit Yaskawa Electric (Investment)
IndoorAtlas Yahoo! Japan (Investment)
Inkron Nagase Group (Acquisition)
KIDE Clinical systems Topcon (Acquisition)
Medfiles WDB Holdings (Acquisition)
Supercell Softbank, GungHo (Acquisition)
Teraloop Yaskawa Electric (Acquisition)

SWEDEN••••EINS Consulting NTT Data (Acquisition)
FishBrain Recruit Holdings (Investment)
Outfox Intelligence Dentsu (Acquisition)
Symfoni Software Fujitsu (Acquisition)

DENMARK•••

8

Magnetix Dentsu (Acquisition)
Nodes Monstar Lab (Acquisition)
Pie System DG Incubation (Investment)

				

ESTONIA
•
•
•
•
•
•
•
•

Fits me Rakuten (Acquisition)
Funderbeam Mistletoe (Investment)
Jobbatical Mistletoe (Investment)
Lift99 Mistletoe (Investment)
Lingvist Rakuten (Investment)
Planetway Mistletoe, Tokusui, Sakura Internet (Investment)
Transferwise Mitsui, World Innovation Lab (Investment)
Xolo Mistletoe (Investment)

9

JAPANESE INVESTMENTS
TO THE NORDICS (2019-2020)

				FINLAND
•
•
•
•
•
•
•
•
•
•
•
•

NORWAY•••••

Brandpad Thorgate Ventures III (Investment)
Girff Aviation Dronefund VC (Investment)
Kahoot Softbank (Investment)
Nevion Sony Corporation (Inventment)
Oncolmmunity NEC (Acquisition)

Attractive.ai Keisuke Honda (Investment)
Canatu Oy Denso (Investment)
Combinostics NordicNinja VC (Investment)
Flexound NordicNinja VC (Investment)
Hatch Entertainment Domoco (Investment)
Logmore NordicNinja VC (Investment)
MaaS Global NordicNinja VC, Denso and others (Investment)
Meru Health IT-Farm Corporation (Investment)
Nightingale Health Kirin and Mitsui (Investment)
Sensible 4 NordicNinja VC (Investment)
Sensire Yokogawa (Investment)
Varjo NordicNinja VC (Investment)

SWEDEN•••••

Einride NordicNinja VC (Investment)
Exeger Softbank (Investment)
Inkonova Terra Drone (Investment)
Tracklib Sony Innovation Fund (Investment)
Voi NordicNinja VC (Investment)

DENMARK
•
•
•
•
•

10

AddiFab Mitsubishi Chemical (Investment)
Chainalysis Mitsubishi UFJ (Investment)
Grazper Yokogawa (Acquisition)
Unibio Mitsubishi Corporation (Investment)
WARM Sony Innovation Fund (Investment)

				

ESTONIA
•
•
•
•
•
•
•
•

Bolt NordicNinja VC (Investment)
Clanbeat Mistletoe (Investment)
Cleveron ITOCHU (MoU for R&D)
Realeyes Docomo (Investment)
Startship Technologies TDK ventures, Recruit (Investment)
Tera VC ITOCHU (Limited Partner)
Thorgate Ventures III Alesco ventures (Limited Partner)
Veriff NordicNinja VC (Investment)

11

JAPANESEINVESTORS•

77% of all Japanese VC investments went
to Tokyo-based enterprises (2018)•

48% of all Japanese VC investments
originate from Corporate VCs (2018)•

From 2013-18 startup investment
increased by an average of 36% a year•

The Japanese ecosystem ischaracterized by small IPOs

THE JAPANESEECOSYSTEM
MOVING UP
In 2018, Japanese Prime Minister Shinzo Abe set an
ambitious goal of producing 20 unicorns within the next
five years and invested heavily in creating a strong
Japanese startup ecosystem and removing structuralbarriers for young companies. More importantly, a newgeneration of Japanese entrepreneurs and investors are
becoming more willing to move into the startup arena.

Several decades of economic recession have forced millions of
employees to work on short-term and project-based contracts,
reshaping the Japanese labor market and changing themindset of the young generation. While the traditional imageof a salaryman working a stable job at a large corporation still
exists, considering a career as a startup entrepreneur is nolonger quite so controversial.
Furthermore, Japanese investors are seeing new opportunities
in the innovation ecosystem. Investments into Japanese12

13

TRENDS

startups increased from EUR 691 million to EUR 3.2 billion from2013 to 2017. Most of this funding came from corporate VC’s(48%) and went to Tokyo-based enterprises (77%).

in Nordic funds: Digital Garage was an early Limited Partner in
the Nordic VC byFounders, and has engaged once again in its

In September 2019 Indian scale-up
OYO (backed by SoftBank) acquired
Copenhagen-based data science firm
Danamica for EUR 9.1 million. Danamica
builds machine learning tools and“business intelligence capabilities” fordynamic pricing for rental properties.

•

Due to the aging population, Japan
has become one of the world’s largest
markets for Healthcare technology.

newest fund in 2019. Mistletoe is a Limited Partner in Helsinkibased early stage fund Maki.VC and the Estonian VC Tera
Ventures.
Japanese investors are not only looking for new opportunities,
but to hedge their risk by investing in technologies developed
abroad with a proven product-market fit. Blue-chip companies
are investing heavily into Industry 4.0 technologies, but their

Big Data

Fintech•Other Japanese investors have engaged as Limited Partners

AI

Health tech

As a result, there are now more homes
than people to live in them. In 2018,
the number of abandoned properties
reached a record high of 13.6%.

INVESTMENT

FOCUS

Robotics•

and have shown particular interest in the Nordics. JapaneseJAPANESE

TransportTech

The Japanese population is aging. 27%of the population is now above 65 years,
and 14% are below 14 years. By 2060,
the population is expected to shrink
from its current level of 127 million
to 87 million.

underdeveloped, many Japanese investors are looking abroad,founded startups since 2013, 28 of these since 2017.

OPPORTUNITIES•

However, since the Japanese startup ecosystem is still relatively

investors have invested in or acquired at least 36 Nordic-&

Deeptechinterest is not limited to these areas.
•
Japanese venture capital is comparatively more open
to speculative industries like Robotics, AI, and Quantum
computing - areas where the Nordics lack heavy upfront
investment. Unlike local Nordic VCs, who prefer quicker
turnarounds and proven business models, Japanese investors

There is a high demand for IoT- androbotics-based solutions to assist
patients and facilitate remote diagnosis.
There is also a growing demand for
AI and Big Data that can be used torecommend and optimize treatmentof patients.

provide more patient capital, looking to long-term outcomes.
Nordic markets are also relatively small, which limits startups’ability to develop their technology enough to be feasible todeploy at a global scale. Markets like Japan give companies theopportunity to, for example, stress-test, iterate, and deploy ata more sophisticated level.
1415WHY FINLAND& ESTONIA?

In 2013, Softbank invested USD 1.5 billion in Finnish
gaming startup Supercell. This was the first - andlargest to date - Japanese VC investment in a Nordic
startup. Since then, at least 36 Japanese investments
and acquisitions have followed, 22 of which have gone
to Finnish and Estonian startups.

Interviewing key stakeholders in both countries has provided
some valuable information(see also a focused study on

Estonia by Innovation Lab Asia):•

Both countries successfully created a strong tech-oriented
narrative. Finland initially benefited from the global Nokiabrand. In 2013, the gaming company Supercell landed abillion dollar-investment from Softbank, thoroughly putting
Finland on the map in Japan. Estonia built a strong narrativeof being an agile and highly digitized society around theire-Residency program. This was further enhanced by four
unicorns that have emerged from the Estonian startup
ecosystem.

16

17

LEARNING
THE
•

FROM

FRONTRUNNERS

Create a strong narrative.
Nordic stakeholders should approach Japan
with a common and cohesive story and build
on it together.

•

Both countries have efficient government agencies•

Both countries have tech festivals with a strong brandlocated in Japan that promoted their respective startup

presence in Japan. Estonia’s largest startup conference,

communities. Business Finland has a specific mandate

Latitude59, sees a solid amount of Japanese participation.

to help attract investment for startups and have a strong

With 131 delegates registered in 2019, Japan was theinternal understanding of startups and VC funding,third largest country represented at the conference,

helping them connect the right companies to investors.

after Estonia and Finland. As one of the largest startup

In addition, they actively promote SLUSH, co-host startup

conferences in the world, SLUSH naturally has a strong

events in Japan, and bring Finnish startups out to meetinternational presence, and has previously run a SLUSH

Japanese investors. In Estonia, the government combined

Tokyo conference (now BARK), considered one of the best

the e-Residency program with a Startup Visa option,international startup festivals in Japan.

•

Collaborate​. Work together across all levelsof the ecosystem, both vertical and horizontal. Japan is huge and working with local
stakeholders is never a zero-sum game.

•Be patient​. Nordic stakeholders need toconsider long-term initiatives that go beyond short-term KPI’s.

•

Be personal​. Build strong personal relations
over a sustained period and connect withother stakeholders for the benefit of yourJapanese guest.

•

Be punctual​. Try to answer all enquiries
within 24 hours.

•

Travel.​ You’ll need to make many trips toJapan before things really start happening.

attracting entrepreneurs from all over the world. Today, fora new generation of Japanese entrepreneurs, Estonia has•

Perhaps the single most important factor behind both

become a point of pilgrimage to learn about the “world’s

countries’ success has been the ability to establish long-most digital society”.

term, trust-based relationships with Japanese decisionmakers. All stakeholders interviewed for this reportemphasized patience as a key ingredient to a fruitful•

Both countries have strong digital platforms from which

relationship with Japanese investors. In addition, there

they can promote and build transparency around theirseem to be shared elements of culture and temperament

startup communities. www.startupestonia.ee provides

between the Finns, Estonians, and Japanese. As one

a comprehensive view of the Estonian innovation

Estonian investor says: “It’s perfectly okay to have longecosystem, including a user-friendly database for Estonian

pauses or be silent during a meeting.”

startups. Finland has www.dealflow.fi, a tool designed for
attracting equity funding. All Finnish companies interested
in attracting equity funding are listed on this website, soinvestors from around the world can easily find the Finnish
companies themselves.

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19

ACTIVE JAPANESEINVESTORSIn this section you will find a listing of the mostimportant Japanese investors active in the Nordics.
Feel free to contact us with additional information, so
we can ensure a complete and comprehensive overview ofJapanese investments and acquisitions into the Nordic
startup community.

For future reference, seewww.japanesestartupinvestments.com
20

21

INVESTMENT
BY

Mistletoe​ is a VC run by Taizo Son, the youngest brother ofYaskawa Electric​manufactures and markets motors, con-

Estonia

Softbank’s CEO Masayoshi Son. Mistletoe has invested in sev-

trollers, inverters, and industrial robots. The company’s prod-

Denmarkeral Nordic companies and is an investor in the Helsinki-based

ucts are split into four segments: motion control, robotics,

early stage fund Maki.VC and the Estonian VC Tera Ventures.

system engineering, and information technology.

•

Planetway​ (EST) 2015•

Teraloop (FIN)​ 2017, Acquisition•

Funderbeam (EST) 2017•

Broadbit (FIN)​2018•

Jobbatical​ (EST) 2017•

Xolo​ (EST) 2017

Rakuten ​provides the largest e-commerce platform and on-•

Lift99 (EST) 2018line retailing site in Japan, and one of the biggest globally.

NordicNinja VC ​is a joint venture between Japan Bank for In-

AMOUNTINVESTOR

TYPE

12OthersFinlandSwedenNorway5
Gov/University

6
International•

Fits Me (EST)​2015•

Lingvist (EST) 2015

49
Corporates (CVC)

ternational Cooperation (JBIC) IG Partners and BaltCap and is22

the first Nordic/Baltic focused fund from Japan. The EUR 101

Dentsu is Japan’s largest advertising agency, and the fifth

million fund is backed by Panasonic, Honda, Omron and JBIC.

largest in the world in terms of revenue.

Their target sectors are enterprise software, robotics, AI, cy-•​Magnetix (DEN) 2016, Acquisition

bersecurity, digital health, and mobility.

•

Outfox Intelligence (SWE)​​ 2017•

MaaS Global (FIN)​2019•

Flexound​ (FIN) 2019

DENSO Corporation​manufactures electronic parts for auto-•

Bolt (EST)​2019

mobiles and communication equipment for mobile navigation•

Einride (SWE) 2019

systems.

•

Combinostics (FIN), 2019•

Canatu (FIN)​ 2017•

MaaS Global (FIN) 201910
VC (independent)

18
Financial Institutions

23

Docomo Innovation Village​is a startup accelerator branch ofJapan’s predominant mobile phone operator, NTT Docomo. The
primary focus of NTT Docomo is to promote and foster technological solutions related to mobility and related businesses
and services.
•

Realeyes​(EST)​2019•​Hatch Entertainment​(FIN) 2019

Softbank​’s USD 100 billion Vision Fund is the world’s largest
VC. In 2019, Softbank announced plans to raise a second USD
100 billion fund, as well as a USD 55 million fund for early stage
AI startups. Softbank has only invested in one Nordic company,
but partners have been present at Nordic events like SLUSH
and TechBBQ to connect with Deep Tech startups.
•​Supercell​ (FIN) 2013•

Exeger (SWE) 2019

Mitsubishi UFJ Financial Group is Japan’s largest bank, andhas invested EUR 42 million into dozens of Fintech startups
since 2015. In January 2019 MUGF launched the largest Japanese Fintech-fund, totalling EUR 167 million.

24•

Chainalysis (DEN) April 2019•

AddiFab (DEN) 2019 - Mitsubishi Chemicals•

MaaS Global (FIN) 2019 - Mitsubishi Corporation

25

NORDICSTARTUPSINVESTMENTS:

WITH

WHEN

&

JAPANESE
WHERE

WHEN/WHERE

20
NEC is one of Japan’s leading technology groups, specializing

WDB Holdings​ provides human resource services. The Com-in software for biometrics, IT security, artificial intelligence, andpany specializes in temporary staffing and permanent employ-data analysis. In 2019 NEC acquired Denmark’s largest techee introductions in fields such as biotechnology, chemistry,company KMD, and acquired a Norwegian Medtech startup

and engineering.

•

OncoImmunity (NOR) 2019, Acquisition•​Medfiles​(FIN) 2017, Acquisition

Recruit Holding ​provides services for human resources,

Monstar Lab is an Asian leader within digital product devel-

housing, travel, restaurants, beauty, education and more.

opment, including mobile apps and games, IoT systems, social

The company also operates staffing services and advertising

networks, and e-commerce sites.

businesses.

••

Nodes (DEN) 2017, Acquisition

Fishbrain (NOR)​2015

18

16

14

Estonia
NorwaySweden12

FinlandDenmark

World Innovation Lab​ (WiL) is a US & Japan-based VC
Tokusui Corporation is a holding company at the center offund, with capital base from governments and leading glob-many fields such as trading, wholesale, and food service.

al corporations based in Japan/Asia including Sony, Suzuki,•

Planetway (EST)​2015

10

NTT, & more.
•

Transferwise​(EST) 20178

Sakura Internet​ provides comprehensive Internet service tobusinesses, operates a data center and leases space to store

Drone Fund​is the world’s only VC fund dedicated exclusive-clients’ servers and network equipment. Sakura Internet also

ly to investment within the Drone Space. Drone Fund provides

offers web hosting and Internet connectivity services.

capital investment, operational support, collaborative plan-•​Planetway (EST)​2015

ning, and regulatory assistance in order to expand the entire
Drone space.

Fujitsu​ is a leading provider of IT products and services forthe global marketplace including hardware, software, networking, business solutions, and more. In 2018, it was the world’s

•

6

4

​Griff Aviation​(NOR) 20192

fourth-largest IT services provider in terms of revenue.
•

26

Symfoni Software (SWE)​2016, Acquisition

0

2013

2014

2015

2016

2017

2018

2019

2020
27

OTHER JAPANESEINVESTORS
These investors haven’t yet invested or acquired any
Nordic startups, but all have an international outlook,and some are actively looking for opportunities in
Nordic countries.

••

Coral Capital is a EUR 41 million VC fund run by the same

Marubeni is a major Japanese business conglomerate

Nomura Research Institute (NRI) is one of Japan’s leading

team that used to manage 500 Startups Japan. The

that has been increasing their interest in Nordic andcompanies in business consulting and IT, as well as a think tank.

Japanese multinational banking and financial services

people behind Coral Capital have announced that they are

Baltic companies. Marubeni established a CVC in 2019

NRI provides startups with IPO research, business consulting,company involved in several Nordic-related initiatives.

determined to continue to work with 500 Startups.

with the purpose of building out collaborations withand venture capital. NRI is a global partner of both the

In May 2019 they organized an event in Tokyo for Finnish

startups through investments in innovations that serve

Copenhagen Fintech and Copenhagen Welfaretech clusters

Healthtech startups together with Business Finland, and in

Hitachi VC fund is the venture arm of Japanese electronics

their core business. The company’s 2019 focus areasand is keen to bring Scandinavian strengths in the healthcare

December 2019 they are partnering with Startup Bootcamp

giant Hitachi. Established in April 2019, the fund will have a

are Nordic strongholds, including Blockchain, Gaming,

industry and smart cities into the Japanese market.

Osaka to accelerate international startups to Japan.

global outlook and a special focus on startups within theand Healthtech, and they have an office in Tallinn.

realm of Fintech, AI, BigData, Mobility, and IoT.

Marubeni has established their CVC arm this year and

•
•

28

•

•

Sumitomo Mitsui Banking Corporation (SMBC) is aseeks to collaborate with startups through investments in
Itochu Technology Ventures is the venture arm of one

innovations that serve their core business. The company’sof Japan’s largest general trading companies. They focus

2019 focus areas happen to be Nordic strongholds,

mainly on early-stage startups within Internet services (B2B

including Blockchain, Gaming, and Wellbeing. They haveor B2C) and have several foreign companies in their portfolio.

plans to open an office in Tallinn.

29

THE

These investors haven’t yet invested or acquired
any Nordic startups, but are actively looking foropportunities in the Nordic countries.

•

BARK is the successor of SLUSH Tokyo, and perhaps the•

Plug and Play is a global innovation platform working

OF

JAPANDI

There is a striking similarity between Nordic andJapanese design. Both value frugal minimalism
and natural materials. Both are particular withdetail and quality craftsmanship. Recently,
a new concept has emerged within interior design: Japandi (a combination of Japanand Scandi) a hybrid aesthetic combining the“modern-rustic vibe of Scandinavian designs
with the traditional elegance associated withJapanese styles”. Nowhere in Asia is the Nordic
brand stronger than in Japan.

OTHER GATEWAYS &ACCESS POINTS•CONCEPT•

Startupbootcamp Scale Osaka is a 3-month acceleration

largest and most internationalized startup event in Japan.

as a VC and a corporate accelerator. Headquartered inprogram designed to help founders scale their businessOf the 700 startups and 200 investors attending SLUSH

Silicon Valley - but with 26 locations worldwide - Plugin Japan, placing a focus on sales, business development

Tokyo in 2018, more than half were international, and theand Play provide a three-month program twice per year

and running pilots with some of Japan’s largest corporates.

conference content was in English.

focused on scaling. Plug and Play Japan is focused

Each bootcamp is limited to 10 companies. On-site

specifically on scaling startups into Japan and East

participation is expected for certain events, but the teams

Digital Garage is a heavyweight in the startup ecosystem

Asia. The program covers business matchmaking, where

won’t need to relocate to Osaka for the entire program.

and was responsible for bringing both Twitter and LinkedIn

domestic and international startups can network andto the Japanese market. With a focus on Fintech andinteract with corporates in Plug and Plays’ network

Big data, this company is especially interested in theand qualify for funding.

rapid development of Nordic societies toward cashless
economies and the Nordic approach to public data. To•

Samurai Incubate is an early stage venture capital

this end, the team has worked with MyData in Finland toand seed accelerator, which was launched in 2008

learn about best practices for ethically using personalwith the aim of supporting startups within the areas

data for infrastructures. While not a traditional accelerator,of management, marketing, sales, HR, and finance.

Digital Garage looks to nurture businesses moving into

Samurai Incubate also runs the Samurai Startup Island,

the Japanese market through collaborative partnerships.

a startup incubator and co-working space in Tokyo, wherestartups can find networking and funding opportunities.

30

31

•

Startup Fukuoka is a government-run incubation facility
that provides a range of services for domestic andinternational startups free of charge, including funding
and financial aid for office space,house rent, marketing,
distribution, legal aid, and administrative support whensetting up the company. It is also the main resource forforeign startups coming to Fukuoka. Since the Startup
Fukuoka initiative was launched in 2014, Startup Fukuoka
has entered into collaborations with 14 cities in 10 countries
throughout Europe, North America, and Asia. Amongthese is the city of Helsinki, and Baltic startups like Coffee
Pixels and Stigo from Estonia, have been able to leverage
Fukuoka’s services for successful expansion into Japan.

•

Tech Business Camp Tokyo is a free 8 week incubator
program developed by the Tokyo Metropolitan Government
in collaboration with Accenture. The accelerator is aimed
at companies looking to expand into the Japanese market
possessing technologies related to Industry 4.0, such as AI,
VR, and Robotics.

32

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This report has beendeveloped by

In a collaboration
betweenWith support from

Asia House
34|

Indiakaj 16, Copenhagen|www.innovationlabasia.dk|

hello@innovationlabasia.dk