(Photo: The Singaporean startups posing for a group photo at Hack Osaka 2024）
Tokyo is a well explored market, with many companies choosing to locate its headquarters in the island’s capitol city. However, this has caused the environment to be just as competitive. In contrast, other areas of Japan such as Fukuoka and Osaka are frequently overlooked despite their relatively large market size as well.
“Do you want to be a small fish in a big pond, or be a bigger fish in a smaller pond?”
This is the question that many startups find themselves facing when exploring a new market. Together with Enterprise Singapore, the ASEAN-Japan Centre co-organized a startup mission to Osaka in a bid to help five promising startups consider alternative locations to Tokyo for their market entry attempts into Japan.
The list of selected startups include:
- Eigen Digital, an EV charger management software startup;
- EtaVolt, a PV recycling and solutions startup;
- Infinity Cube, a BESS startup;
- QuikBot, a logistics solution startup; and
- TicTag, an AI data annotation startup.
Hack Osaka
From the get-go, the startups participated in Hack Osaka, setting up booths and pitching their solutions at a side event, Osaka Springboard.
At the event, the startups met with people across various industries, forging new bonds while building an understanding of the local startup ecosystem.
Focused Pitching Sessions
In the second half of the programme, the startups had the chance to pitch their businesses to key decision makers in companies such as Hankyu Hanshin, Nankai Electric Railway, Toppan, and Takenaka.
After the pitching sessions, the startups also had the opportunity to connect with the Japanese companies at a more personal level, exploring opportunities and answering questions that they might have.
Japan Market Entry Seminar
The programme also included a special session for the startups to learn about what they should consider when developing their businesses in Japan. The lecturer explained how business relationships are built in Japan, and what the startups can expect from their potential clients.
Key Takeaways
- While Tokyo remains as Japan’s largest market, startups should consider other parts of Japan as well.
- Cities like Osaka and Fukuoka are new and growing international hubs that could provide startups with a more favourable and less competitive environment.
- Working with existing players can help startups find an entry into the market as they are more familiar with the needs of the local market.
Way Forward
From here, the ASEAN-Japan Centre will continue to support ASEAN startups and their attempts at entering the Japanese market. Apart from opportunities such as this, the ASEAN-Japan Centre also conducts Free-Trade Agreement seminars for ASEAN businesses as well as provide research material on how SMEs can break into the Japanese consumer market.
Event Overview
Event: Singapore Kansai Startup Mission 2024
Date: November 26-28, 2024
Venue: Osaka city
Participants: 5 Singaporean tech startups, ACE.SG, 4 Japanese corporations, and the Kansai Economic Federation
