A Platform for Korea-Japan Startup Exchange... KOTRA Hosts 'Kwanseo Economic Forum'

Exploring Collaboration Opportunities Between Investors Like VC·CVC and Our Innovative Startups

Japanese investors attending the 'Kwanseo Korea-Japan Economic Forum' are listening to the welcome speech by Jang Sang-hyun, CEO of Invest Korea.
[Photo by KOTRA]

[Asia Economy Reporter Kim Heung-soon] KOTRA announced on the 29th that it held the "Kansai Korea-Japan Economic Forum" on the 28th in collaboration with the Consulate General of the Republic of Korea in Osaka, under the theme of "Mutual Cooperation between Korea and Japan through Startups."

Since 2019, KOTRA has been promoting startup-themed events to expand opportunities for exchange between Korean startups and the Kansai region of Japan. This year, the event focused on pitching sessions for Korean startups targeting major investment companies in the Kansai region, which is known for its advanced manufacturing and medical bio industries.

Ten innovative domestic startups, selected in advance, introduced their innovation and competitiveness to about 100 potential investors, including local venture capitalists (VCs), corporate venture capitals (CVCs), and open innovation stakeholders in the region.

Recently, Japan has introduced tax incentives to promote open innovation in order to secure competitiveness in new growth sectors such as IoT and healthcare and to stimulate the relatively underperforming startup sector compared to major countries. The key point is that when large corporations and CVCs invest a certain amount (100 million yen) or more in unlisted companies established less than 10 years ago, they receive a tax credit equivalent to 25% of the investment amount. Additionally, research and development (R&D) subsidy policies have been established.

Private sector investment in startups in Japan is also active. According to KOTRA, investments in domestic and foreign startups using CVCs and open innovation platforms are increasing, mainly among large corporations and manufacturing industries. This environment is expected to present opportunities for Korean companies.

Jang Sang-hyun, CEO of Invest Korea, said, "Our startups, equipped with innovation and a spirit of challenge, have the potential for mutual cooperation with Japan, which has a solid industrial infrastructure and investment capacity," adding, "We will continue to provide various opportunities to create successful cases of startup cooperation between the two countries."

This content was produced with the assistance of AI translation services.