Jetro to expand Startup Hub to more cities

Japanese External Trade Organisation (Jetro) will expand Indo-Japan Startup Hub to more Indian cities in India.

Speaking to DH during the networking seminar organised on Tuesday, a top Jetro official said the Indo-Japan Startup Hub at Bengaluru, which began operation in May 2018, has been receiving overwhelming response.

"Japanese companies are witnessing tremendous opportunities in the startup community in the country, especially in other Indian cities. This has prompted us to expand Indo-Japan Startup Hub into other Indian cities," he said.

Indo-Japan Startup Hub Bengaluru began its operation in association with IT trade body Nasscom and Indian Institute of Management, Bengaluru (IIMB). The decision comes after Prime Minister Narendra Modi's visit to Japan last year and it mentioned in the joint statement of Modi and Japanese Prime Minister Shinzo Abe.

The hub is acting as an interface to facilitate start up collaboration and two-way investment between both the countries. Japan has become the third largest investor for India – next to Mauritius and Singapore.

The Bengaluru hub already brought investors like Mistletoe, Incubate Fund, Beenext, Rebright Partners, GREE Ventures, Mistletoe and Anew Holding.

Ministry of Electronics and Information Technology (METI) Joint Secretary Rajiv Kumar said India and Japan can co-create and add value to tech innovation for the world.

"The Indo-Japan Startup Hub can help big Japanese corporation to co-create products for the world as India will be a 'Strategic Development Centre for Global Market. It will also help Indian companies target Japan as a new market," he said.

Nasscom Global Trade Development Senior Director Gagan Sabharwal said Indo-Japan Startup Hub Bengaluru has given confidence to Japanese companies better their hardware capabilities with the software prowess of Indian startups.

"This partnership will be very unique and we hope will bring about quality products and solutions on the global stage built together by Japan and India. Both METI and Jetro have been very supportive of promoting this co-create culture to bring digital cooperation to life," said Sabharwal.

Besides Japanese companies like Toyota, Hitachi, Sony India and Mistubishi attended the function, the seminar was attended by around 100 Indian startups to explore opportunities in Japan.