The reason why startups from around the world are gathering in Japan = Korean report

Spring has arrived in Tokyo before Korea, and cherry blossoms are in full bloom. The capital market is also in full bloom as spring arrives. Among them, the Hongdae Entrance Station, which is adjacent to Shibuya Station and bustling with young people and tourists,
Recently, Shibuya has been filled with the enthusiasm of startup founders. The reason they gather in Shibuya is simple: the local government and large corporations have joined forces to create a Silicon Valley-style startup town, a place where innovation originates.
This is because Shibuya is home to a number of startup-friendly spaces, including a space for various investment and management companies.
In fact, Japanese venture capital (VC) officials nodded in agreement, saying, "When you look at the events being held all over Shibuya, you can see that this phrase is exactly what it sounds like."
Investors and people from large companies periodically visit startup incubators and hold events ranging from casual coffee chats to one-on-one matching meetings and demo days.
The reason why Shibuya has become a global startup nurturing center is because of the Japanese government's comprehensive startup support.
The Japanese government announced in 2022 a plan to invest approximately 90 trillion won (approximately 8.9 trillion yen) by 2027 to develop startup companies.
The company has set a goal of cultivating 100 "unicorn companies," startups with a corporate value of over 1 trillion won (about 99 billion yen), in the medium to long term.
The government has also established a "Startup Visa" system to support Korean startup companies in Japan, allowing them to live and work in Japan for up to two years.
They are located in various startup support platforms near Yeoksam Station. However, Japanese startups are being nurtured in the Silicon Valley style by occupying spaces supported by global investment and management companies.
In contrast, the methods used by startup support organizations in South Korea are thoroughly based on domestic methods, which leaves something to be desired.
The Foreign Entrepreneurship Promotion Program to encourage foreign entrepreneurs to start businesses in Korea
The support measures from the Small and Medium Enterprises and Startups Division, which is promoting the "Business Development Support Project," also leave something to be desired. Until now, the project has seen few companies participate due to a lack of information and language barriers.
Since last year, they have stepped up their support and opened the Global Startup Center (GSC) in Gangnam-gu. Local governments and government agencies in Korea are providing domestic companies with opportunities to expand overseas and local companies
In 2018, they held a Demo Day event overseas to show the possibility of entering the domestic market. However, a representative of a domestic startup company said, "They claim to target the global market, but in reality,
"At the demo day events held outside, we have to give presentations that will satisfy company executives," he said, expressing his disappointment.
Korea is bound by formalities and focuses only on superficial performances.
It is clear why Japan, which follows global standards, attracts talented people from around the world. Of course, the reason why Japan attracts not only global investment and management companies, but also entrepreneurs is because of the stable
The main reason is the stable internal environment and the huge capital markets in Asia, excluding China. However, the people involved in the capital markets who I met in the country all agreed that "external uncertainty is growing.
"In the midst of this, the government is backed by the certainty of the policies, and that power is considerable," he said. Isn't it time for a mid- to long-term, consistent policy, regardless of the administration, in South Korea as well?
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