"Japan lacks the self-reinforcing mix of young innovators and financiers that has made places like Silicon Valley and Hangzhou in China, hotbeds of growth.
Japanese venture-investment volume would have to increase by around five or six times to get to a more appropriate size relative to its economy, Mr. Yarimizu general partner of JIC's venture arm said. He said he expected that would happen slowly over five to 10 years.
For decades, big corporations were at the heart of the country's economy and business culture, and the path to success was seen as leading from a top-tier university to blue chips such as Sony Corp. or Toyota Motor Corp.
Those companies carefully guarded their proprietary technology and supply chains, leaving little space for innovation from the outside, said Hiroyuki Kuroda, secretary-general at the Venture Enterprise Center, Japan, a foundation formed in 1975 to support startups.
In a survey of startup founders by the Venture Enterprise Center this year, more than a fifth said people around them had been opposed to their starting a company. About 45% of those encountering opposition cited resistance from their mothers and 38% from former bosses or colleagues.
The polled entrepreneurs cited broad disapproval of making money as a top factor they hoped would change. And Japan tends to be more unforgiving about business flops than the U.S., meaning fewer companies are formed, said Initial analyst Atsuko Mori. Japan's corporate "metabolic rate is low," she said." [1]
Oh, look, a Lithuanian is sitting in a corner and crying, because he also wants such toys. Let’s pat the head to calm down. There are, there are valleys in Lithuania, delivered for EU money. Turnips grow there. Very healthy, full of vitamins. There are also modern appliances bought for EU money that no one needs. Silicon Valley is not a place where fog accumulates in the mornings. Silicon Valley is for people who tend to risk their money and efforts for something new and important.
1. Japan Plays Catch-Up in Venture Capital
Dvorak, Phred. Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]28 Dec 2020: B.9.
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