Invest Japan Seminar in the Innovation Field in Beijing, China
On August 29, JETRO held the Invest Japan Seminar in the Innovation Field in Beijing, China. Disseminating information on the allures and business opportunities in the Japanese market toward companies mainly in advanced technology fields such as AI and IoT in Beijing, the city said to produce the second largest number of unicorn companies after Silicon Valley in the US, JETRO called on Chinese companies to work together with Japanese companies and invest in Japan.
In his opening remarks, Director-General Takeo Donoue of JETRO Beijing introduced the advantages of investment environments in local regions of Japan; touched on "Society 5.0," an initiative proposed by the Japanese government with the aim of solving social issues through innovation; and strongly encouraged Chinese companies to invest in Japan. In addition, Yu Haiyan, Deputy Director-General of the Department of Trade and Investment Promotion at the China Council for the Promotion of International Trade (CCPIT), mentioned how trade, investment and interpersonal exchange between China and Japan has been expanding and expressed her hope that relationships in the innovation field would further grow in the future.
In the session on Japan’s AI and IoT market and ecosystems, a representative from DIP Corporation explained that vertical business development and “SIer” (system integrator) culture are the mainstream of the market, and that there are numerous Japanese companies seeking to obtain technologies. He encouraged Chinese companies to work together with Japanese companies as well as enter the Japanese market. A representative from Deepcore Inc. introduced notable cases of collaboration between industry and academia in the Japanese AI field and presented issues in the Japanese AI market. Expressing expectations for Chinese companies, he touched on potential patterns of them partnering with those of Japan in order to enter the Japanese market in a profitable manner.
In the next session covering investment environments and available incentives, officials from local authorities—the Cities of Yokohama, Osaka, Kobe and Karatsu, and Kanagawa Prefecture—presented on business environments, potential partners and dedicated support systems in each area. JETRO also explained its own support services for FDI into Japan, a regulatory sandbox framework *1 and cost benefits for establishing business sites in local regions of Japan.
In the latter half of the seminar, two AI-related Chinese companies active in Japan delivered presentations. A representative from Infervision.Japan, a company developing medical imaging AI diagnostic tools, talked about why they first selected Japan as their first overseas business site. They pointed to the advanced medical system, clear legal system and easy access to the ASEAN market as advantages Japan possesses. They explained how they are contributing to the Japanese medical field through addressing the deficiency of radiologists, increasing the work efficiency of doctors and assisting early cancer detection. A representative from TuSimple Japan, a company developing self-driving trucks, revealed that strong logistics needs and a deficiency of drivers in the region were the principal reasons to establish a business site in Kita-Kyushu, and promised to contribute to decreasing expensive logistics costs in Japan, further mentioning the attractiveness of collaboration with major Japanese companies. On behalf of Japanese companies promoting open innovation, representatives took the podium from Panasonic Corporation and Game Changer Catapult of Appliances Company Panasonic Corporation, which is involved in in-house accelerator programs. Presenting their activities for open innovation and examples of collaboration, they expressed their desire to proactively consider working with Chinese companies who excel at cost effectiveness and quick action.
In the panel discussion, the six presenters from China and Japan—DIP Corporation, Deepcore Inc., Infervision.Japan, TuSimple Japan, Panasonic Corporation and Appliances Company Panasonic Corporation—engaged in discussions from diversified perspectives under the following themes: "Why we entered Japan from China, with its market and population of 1.3 billion people," "What Japanese social issues should be solved by innovation," and "Keys to succeed in Japan."
At a networking reception after the seminar, numerous Chinese business people visited PR corner for the presenting companies and local authorities, as well as JETRO, and engaged in lively discussions.
JETRO will continue to facilitate collaboration between Chinese and Japanese companies toward creating innovation and assist Chinese companies in entering Japan.
* This seminar was held under the consigned budget of the Ministry of Economy, Trade and Industry.
*1 Please refer to the information related to the Regulatory Sandbox Framework on JETRO’s website. (1.0MB)
PR corner by local authorities
|Date and time||Thursday, August 29, 2019, from 14:00 to 17:00|
|Venue||Hotel New Otani Chang Fu Gong, Beijing|
|Organizer||Japan External Trade Organization (JETRO)|
|Co-organizer||Department of Trade and Investment Promotion of the China Council for the Promotion of International Trade (CCPIT)|
|Cooperation||Zhongguancun Development Group (ZGC Group), China International Association for Promotion of Science and Technology (CIAPST), Beijing Changfeng Information Technology Industry Alliance, Tron Space, Plug and Play, Kr Space, Investment Promotion Center of CCPIT|
|Supporter||Beijing Investment Promotion Service Center|
|Visitors||Approximately 150 people|