Taiwan and Tokyo join forces to kick off this year's Japan-Taiwan Innovation Summit, attracting more than 70 Japanese and Taiwanese startups to Tokyo

J-STORIES - The "2024 Japan-Taiwan Innovation Summit," the largest Japan-Taiwan startup event to date, was held this week (Sept.17 and 18) in central Tokyo as over 1,000 participants from various sectors – such as politics, academia, large business, and media – engage with approximately 70 innovative startups from Taiwan and Japan looking for cross-border expansion. 

This year’s summit grew further from previous iterations, incorporating cutting-edge industries such as AI, biomedical science, cybersecurity, digital services, fintech, defense, and aerospace.

Additionally, among the headlining topics were Taiwan’s already huge semiconductor supply chain and its further growth potential in the next decade. As Taiwan’s leading chipmaker TSMC, which was launched as a startup more than three decades ago with the support from the Taiwanese government, is now building factories in southern Japan, Tokyo has high hopes in Taiwan’s further investments in bumping up semiconductor production capabilities and building even more factories in Japan.

The two-day event was co-hosted by Taiwan’s National Development Council (NDC), a government body of Taiwan, and the Tokyo Metropolitan Government. Tokyo-based media agency Pacific Bridge Media & Consulting also supported the event as a local media partner, featuring various reports and videos about the event on a special online page and bridging the gap between Taiwan’s startup leaders and the Japanese media. 

At this year’s summit, not only Taiwanese entrepreneurs but also Japanese startups were invited to present alongside Taiwanese firms. This year’s summit featured a significant number of Japanese participants from financial institutions, venture capitalists, and trading companies. Japan’s increased involvement is expected to strengthen the Japan-Taiwan network and contribute to the development of an international ecosystem.

To start day one, Taiwan's National Development Council (NDC) Minister Liu Chin-Ching, the Taiwanese delegation leader for this summit, took the stage. Minister Liu stated, “We are implementing the ‘Bridge Plan’ to expand innovation internationally. While we have been advancing innovation domestically in Taiwan, our future goal is to pursue international collaboration, with Japan being our first partner.” He highlighted the significance of Japan in Taiwan's collaborative efforts.

A video message from Tokyo Governor Yuriko Koike was shown following Lui's speech. She emphasized, “Taiwan and Japan have built a strong cooperative relationship. Let’s join forces between Tokyo and Taiwan to launch significant innovation”. 

Later that morning, Deputy Minister Jan Fang-Guan of the National Development Council (NDC) gave a speech introducing Taiwan's innovation ecosystem. This was followed by a panel discussion featuring prominent figures in Taiwanese finance and investment, including David Weng, CEO of Taiwania Capital, who forecasted future investment trends between Japan and Taiwan.

Additionally, Taiwanese startups visiting Japan took the stage, while a song titled "We Are One", created for this event debuted globally.

In the afternoon, Minister Liu Chin-Ching of Taiwan's National Development Council held a press conference at the Japan National Press Club in central Tokyo.

During the conference, the minister in charge of Taiwan’s economic and start-up growth strategies declared that Taiwan would officially open its first overseas innovation base in Tokyo on Sept. 18, 2024.

“We aim to provide support in company registration, investment introductions, business cooperation, and IPO assistance to Japanese and Taiwanese companies, startups, and investment institutions,” he said. “We also hope to strengthen talent exchange between Japan and Taiwan and expand the market together.”

This visit marked Minister Liu’s first trip to Japan following the establishment of Taiwan’s new administration in 2024. His visit drew significant media interest with over 100 journalists (including online participants) from both domestic and international outlets in attendance.

Two keynote speeches addressed important themes on the second day of the summit. Alex Lee, founder and CEO of QIC (Quantum International), presented "The Reasons Why Taiwan's Semiconductor Supply Chain Market Value Will Grow Tenfold by 2033," providing insights into the growth potential of Taiwan's semiconductor supply chain.

Following this, Kei Furukawa, an investment partner at UTokyo IPC, gave a lecture titled "Innovation and Startup Development Systems at the University of Tokyo VC," discussing the advancement of innovation and entrepreneurship through collaboration between government and universities in Japan.

Additionally, there were presentations from Japanese and Taiwanese startups and innovation companies, speeches by notable guests, and more. The last day concluded with an invitation-only opening ceremony for the Taiwan Startup Tokyo Office and a gala dinner with investors.

Translated by: J-Stories

Top page photo: Emi Takahata | J-Stories

For inquiries regarding this article, please contact jstories@pacificbridge.jp

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