TOKYO (Taiwan News) — National Development Council (NDC) Minister Liu Chin-Ching (劉鏡清) led around 50 Taiwanese startups to Japan on Sept. 17 for the Japan-Taiwan Innovation Summit and attended the Startup Island Taiwan office launch in Tokyo.  

This was the third time the NDC and Startup Island Taiwan hosted the Japan-Taiwan Innovation Summit, which was held at the Tokyo Innovation Base (TiB). What sets this year’s event apart from previous ones was a special partnership with the Tokyo Metropolitan Government.

The two-day event, held on Sept. 17 and 18, attracted over 1,000 participants. Speakers included Tokyo Governor Koike Yuriko, Headline Asia founder Tanaka Akio, Senior Investment Director of Sony Ventures Suzuki Daisuke, and JETRO Innovation Department Deputy Director-General Tarutani Noriya, demonstrating the deepening connections between both country's startup ecosystems. 

Lin was also in Japan to promote the “Bridge Project,” a Taiwanese startup support initiative. It aims to expand single-point collaborations into comprehensive exchanges in order to create more business opportunities. 

During a Sept. 17 press conference at the Japan National Press Club attended by nearly 100 Japanese media outlet reporters, Liu said Taiwan is expanding funds to support emerging industries such as AI, creative industries, biomedical technology, and green technology.

Lin added that through an MOU with Kyoto University, Taiwan and Japan are also working together to develop teams in the deep tech sector.

Many Taiwanese venture capitalists are establishing cross-border funds to invest in startups operating in both markets. According to Nikkei Asia, “Forty-eight Japanese companies have received investments from Taiwan this year through July, the most since 50 recorded in all of 2014.”

Taiwanese startups are also making efforts to enter the Japanese market. Several “Next Big” startups, nominated by the NDC and Startup Island Taiwan, have already set up offices in Japan and are serving Japanese customers.

Startup Island Taiwan also set up an office in Tokyo to facilitate ongoing exchanges between Taiwanese and Japanese companies, startups, and investment institutions. The new Tokyo hub is expected to help match more Japanese investors and corporations with Taiwanese startups.