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J-STORIES – The “2024 Japan-Taiwan Innovation Summit,” the largest startup event to date featuring Taiwanese startups expanding into Japan – and vice versa – was held this week (Sept.17-18) in central Tokyo. Over 1,000 participants from various sectors – such as politics, academia, big business and media – engaged with approximately 70 innovative startups from Taiwan and Japan over the two days.
The 2024 summit expanded further from previous years, incorporating cutting-edge industries, including AI, biomedical science, cybersecurity, digital services, fintech, defense, and aerospace. Additionally, discussed among the main topics were Taiwan’s booming semiconductor supply chain and its uninhibited growth potential within the next decade.
The second day commenced with a welcoming address from Liu Chin-Ching, minister of Taiwan’s National Development Council (NDC) and the Taiwanese delegation leader for this summit.
Next, Keiichi Yoshimura, director general of the Office for Startup and Global Financial Strategy at Tokyo Metropolitan Government, took the stage to promote Tokyo’s startup support initiatives.
The highlight of the second day was two keynote speeches addressing important themes. First, Alex Lee, founder and CEO of Quantum International (QIC). In his address, “The Reasons Why Taiwan’s Semiconductor Supply Chain Market Value Will Grow Tenfold by 2033,” he offered a compelling analysis of the growth trajectory for Taiwan’s semiconductor sector. He pointed out that, compared to Taiwan’s semiconductor manufacturer TSMC (Taiwan Semiconductor Manufacturing Co.), the market prices of companies in Taiwan’s semiconductor supply chain are still relatively low. He explained the potential for the entire supply chain’s market value to grow tenfold by 2033, in line with the growth of TSMC.
Next, Kei Furukawa, Investment Partner at UTokyo IPC, delivered another keynote speech titled “Innovation and Startup Development Systems at the University of Tokyo VC.” He explored the role of universities in fostering startup ecosystems and government collaboration. UTokyo IPC is a leading venture capital firm in Japan that supports various startups in deep tech fields with the potential to significantly impact society – such as in healthcare, space, artificial intelligence (AI), environmental technology, and agri-tech. He explained their efforts, not only in investment, but also in startup support and talent matching, with the aim of building an entire innovation ecosystem for startups.
J-Stories article on UTokyo IPC can be found here.
During the event, exhibition booths were set up at the side of the stage for Taiwanese startups that had traveled to Japan specifically for this occasion. This provided ample opportunities for networking, as startup representatives engaged with numerous Japanese investors and corporate attendees visiting the venue.
In the afternoon, a formal opening ceremony was held in Hamamatsu-cho – a skyscraper-filled business district located in the center of Tokyo – for Taiwan’s first overseas innovation base, attracting numerous media representatives and stakeholders.
The office is expected to provide services such as company registration, investment introductions, business collaboration, and IPO support for companies, startups, and investment institutions from both Japan and Taiwan. Additionally, it will serve as a venue for talent exchange between the two countries.
In the evening, after the event, a gala dinner was held at Happo-en in Tokyo. Performances by Taiwanese artists entertained invited guests, including startup representatives and notable venture capitalists and investors.
Translated by: J-Stories
Top page: J-Stories (Emi Takahata)
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