Indian Startup Meetup in the backdrop of SusHi Tech Tokyo 2024 Global Startup Program
Many Indian startups recently visited Japan to showcase their services and products. This was an incredible opportunity for them, not only to exhibit at SushiTech but also to connect with other startups, understand the Japanese market landscape, and delve into the nuances, mindset, and cultural aspects essential for flourishing in Japan.
On May 14th, 2024, the Indian IT Association Japan (IITAJ), Fox Academy, and Carve Startup Labs organized a special event at Niravanam North and South Indian Restaurant at Tokyo Big Sight, owned by Mr. Anil Raj, President of IITAJ.
Event Highlights:
- Meet and Greet: Mr. Anil Raj, Ms. Vijayalakshmi Karuppasamy, and Mr. Prakash Raja hosted a meet where each startup had the opportunity to introduce their venture, ask questions, and gather crucial insights needed to enter the Japanese market.
- Engaging Discussions: One intriguing question addressed was, “Why do Japanese startups emphasize trust so much and why does it take longer to allow entry or establish business?” Members of IITAJ and IndoJapanPulse (an Information Hub Platform) provided their best insights.
- Networking Dinner: The event concluded with a delightful dinner and networking session where valuable information was exchanged, and potential future collaborations were discussed.
IndoJapanPulse captured the insights from India-Japan Startup Meetup
1. Explore Market: The event emphasized the importance of understanding and exploring the Japanese market for Indian startups.
2. Options and Strategy: Startups were advised to evaluate options and plan strategically before proceeding.
3. Learning Opportunities: Japanese participants showed a keen interest in learning IT skills from Indian experts.
4. Innovation within Boundaries: Encouraged startups to think creatively while adhering to local regulations.
5. Building Trust: Highlighted that trust must be earned gradually, similar to the growth of a bamboo tree.
6. Visa Opportunities: Discussed the Business Manager Visa (BMV), which requires investment, and the Startup Visa, which has quotas in every prefecture and supports small teams.
7. Support System: The Japan government offers comprehensive support for startups, including subsidies and tax exemptions.
8. Startup Process: Key steps include developing a Minimum Viable Product (MVP), creating a business plan, and forecasting finances for three years.
9. Brand Value: Building a strong brand is crucial for success in Japan.
10. Financial Requirements: No immediate investment needed; showing sufficient bank funds is essential.
11. Government Assistance: The Japanese government aids the entire startup process.
12. Cultural Integration: Emphasized the importance of learning and respecting Japanese culture, and the significance of politeness, like saying thank you.
13. India’s Position: Recognized India as the third-largest startup ecosystem globally, stressing the importance of not failing and leveraging cultural similarities, such as those between Hokkaido and Kerala, to succeed.
Following the SusHi Tech Global Startup event, IITAJ facilitated a meeting between budding entrepreneurs from India and the 𝐇𝐨𝐧𝐨𝐫𝐚𝐛𝐥𝐞 𝐀𝐦𝐛𝐚𝐬𝐬𝐚𝐝𝐨𝐫 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 𝐭𝐨 𝐉𝐚𝐩𝐚𝐧, 𝐇.𝐄. 𝐌𝐫. 𝐒𝐢𝐛𝐢 𝐆𝐞𝐨𝐫𝐠𝐞. Several ideas about enhancing India-Japan relations and exploring opportunities were discussed. Ideas were also shared on how the Embassy of India, Tokyo, can support Indian IT companies.
IndoJapanPulse has consolidated glimpses of these exciting events for your view. IndoJapanPulse is dedicated to supporting startups in their journey to enter and thrive in the Japanese market. Our Startup Gateway initiative offers a range of services to help startups from market entry and product fitment to selling solutions and services.
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