June 11, 2018
The Ministry of Economy, Trade and Industry (METI) starts a new initiative called the “J-Startup” program, aiming to incubate internationally competitive and winning startups and encourage them to provide new value to the rest of the world through their innovative technologies and business models.
1. Outline of the program
Under the program, METI will select promising startups that experts have nominated and the public and private sectors will unite their efforts to provide selected startups with intensive support measures, including those for their business development overseas. As part of this program, METI will establish a J-Startup Supporters system in which large companies, venture capitals and accelerators, collectively called “J-Startup Supporters,” will collaborate with METI in providing these measures. METI will propel this program in collaboration with other ministers and agencies.
1. Vision for the program
The government of Japan has been holding discussions concerning a national goal that Japan should newly establish 20 venture businesses with a corporate value or market capitalization of over 1 billion dollars, targeting those unlisted (unicorn companies) and listed, by 2023.*
Under the program, METI will aim to achieve the governmental goal through incubation of promising startups that are expected to internationally expand business and will also create role models and thereby encourage society overall to cultivate entrepreneurship, a mindset motivating people to establish a company and take on new business. Through this initiative, METI will aim to further fortify the startup ecosystem in Japan.
*Source: Chapter 2 “Specific Measures” of the initial draft of the Investments for the Future Strategy 2018 described in the distributed document 4-2 at the 17th meeting of the Council on Investments for the Future (released on June 4, 2018)
3. Launching ceremony
On June 11, 2018, METI held a launching ceremony of the program. At the ceremony, Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, declared the start of the program and released selected startups as J-Startups and selected large companies, etc. as J-Startup Supporters.
- Link to the information on the selected J-Startups, expert members who nominate startups, and selected J-Startup Supporters (in Japanese)(PDF:222KB)
4. Future release of related information
Please check the latest information on the website below as METI will continually update it.
Division in Charge
New Business Policy Office, Economic and Industrial Policy Bureau