Japanese firms reach out to Indians startups for aid

Japanese firms are looking for help from Indian IT startups to develop its economy. Two startups from India will take part in Japan’s first Well-Aging society Summit Asia-Japan. The event will take place in Tokyo on October 9th, 2018. This international conference will focus on global healthcare issues. Big companies, startups, government officers and investors will be participating in the conference.

A Japanese ‘Internet of Things’ mission will take place in February 2019. This mission will visit Bengaluru to explore opportunities on partnerships. According to the Japan Times, Japan-India based startup called Hub was set up in Bengaluru in May. The main aim of Hub is to create a platform for encouraging the exchange of information and partnerships between both the countries.

Japan is trying to improve its manufacturing industry by using new and developing technologies. But due to the lack of skilled IT professionals, the task is getting quite difficult, said the Japan External Trade Organization. The organization in a statement said that India is the best place to reach out for most advanced IT skills. It said that the start-up will help with the idea of co-innovation and co-creation.

Japan is also planning to start a one-year Startup Visa program to promote foreign direct investment. Hub will also give a boost to the Japanese firms that would like to work with Indian companies. NASSCOM’s senior director of global trade development, Gagan Sabharwal said that this startup is one of its kind. Through Hub, their aim is to bring good quality solutions and products to the market. India and Japan, together, will build these state-of-the-art solutions.

Over the past few years, various small and large Japanese companies are investing in Indian Startups. By 2024, SoftBank Group Corp has planned to invest $ 10 billion in the Indian market.

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