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Japan-India Relations Get Big Boost With Startup Hub, IT Corridor And More | #VentureCanvas

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Bhumika Khatri | Inc42

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In line with commitments signed last year, India and Japan governments signed multiple contracts to support the relations, business and investments between the two countries.

During the 13th annual bilateral summit, Japanese Prime Minister Shinzo Abe along with Indian Prime Minister Narendra Modi continued to show the commitment of working together with evidence of strategic cooperation.

India-Japan Vision Statement, 2018 highlighted the achievements of past year and noted significant plans for the coming years.

Here’s a quick look into interesting aspects for the startup ecosystem:

Startup Hub between India and Japan: Following up on September 2017 resolutions, the Prime Ministers launched India-Japan Startup-hub, which was signed during the visit of METI Minister Seko to India in May this year that included the establishment of a Startup Hub in Bengaluru stationed at JETRO as an interface between respective startups and firms for more collaboration such as by identifying selected Indian startups for Japanese market and for potential Japanese investors. Also, the online platform of Japan-India Startup Hub established by Invest India will serve the same.

Talent Facilitation: Under India-Japan Cooperation on Digital Partnership, the governments will consider initiating and also expanding already existing mechanisms for facilitating training opportunities and Internship programs, organizing Job Fairs (Japan career fair), introducing the StartUp Program for highly skilled Indian professionals (namely Japanese “Green Card” and Highly Skilled Professional VISA), expanding JEC Courses to IT and electronics firms.

Cooperation in R&D: To bring together government think-tank Niti Aayog, spearheading the National Programme for AI Research in India, and METI, focusing on promoting emerging technologies under “Society 5.0”, India and Japan signed an overarching Statement of Intent between NITI Aayog and METI on Artificial Intelligence with provision of exploring possibilities for specific institutional cooperation such as between Artificial Intelligence Research Centre of National Institute of Advanced Industrial Science and Technology in Japan and IIT Hyderabad in India.

India-Japan Business Platform: The two countries will work towards establishing an India-Japan Business Platform to enhance the exchanges between Indian and Japanese businesses toward developing industrial corridors and industrial network in the region. The two countries signed the Memorandum of Understanding between NEXI and ECGC, which is expected to promote the development of concrete India-Japan business projects in the region.

Ease of Doing Business in India: As a new initiative, METI and DIPP decided to cooperate on the development of “Advanced Model Single Window” to streamline administrative procedures in Central and State Governments of India based on the best practices in and outside India and its capacity building, thereby accelerating India’s effort to promote Ease of Doing Business in India.

India: Cooperating And Growing With The World

In a true sense of work together to grow together, India has been collaborating with a number of countries — Netherlands, England, France, US, Estonia, Germany and now Russia — in the last few years at various levels to strengthen the startups’ business across the territories.

Here’s a quick look at such collaborations:

  • In March, Estonia has introduced its E-Residency programme for Indian startups to work in the country without any hassle which offers startups access to a government-issued digital ID, thus enabling them to open a global EU company online while working from India
  • Netherlands in partnership with Invest India launched StartupLink to address the startup concerns in terms of tax, policies and other issues
  • France, last year, had sent a huge 65-member delegate to India which also discussed the organising startup summits as well as incubating the shortlisted ones
  • The UK has already started a host of initiatives which include Tech Rocketship programmes,  MIDAS-Fast Five, Access India etc to help startups of the two countries
  • In July 2017, PM Modi had launched a five-year technology fund – The Israel India Innovation Initiative Fund, or I4F to grow the business relationship between both countries
  • In June 2017, PM Modi along with Portuguese PM Antonio Costa launched India-Portugal International Startup Hub

As the third largest startup ecosystem in the world, India continues to support and grow with its counterparts to nudge Indian startup ecosystem higher.

The post Japan-India Relations Get Big Boost With Startup Hub, IT Corridor And More appeared first on Inc42 Media.

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Source: Japan-India Relations Get Big Boost With Startup Hub, IT Corridor And More

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