New Delhi: Union Minister of Commerce and Industry Piyush Goyal highlighted India’s emergence as the world’s third-largest startup ecosystem, with nearly 250,000 startups established over the last decade, at the India-Japan Startup Roundtable held in Tokyo.
He said India’s large domestic market, deep STEM talent pool, digital public infrastructure and rapidly expanding innovation ecosystem make the country an attractive destination for Japanese technology, investment and innovation partnerships.
The India-Japan Startup Roundtable brought together senior government representatives, investors, industry leaders and startups from India and Japan, reaffirming the two countries’ shared commitment to deepening cooperation in startups, deep technology, innovation and MSMEs.
Discussions at the India-Japan Startup Roundtable focused on strengthening technology partnerships, promoting investment and fostering the next phase of innovation-led economic collaboration between India and Japan.
India–Japan Startup Engagement Gains Momentum
Welcoming participants, Ambassador Nagma Mohamed Mallick highlighted the growing startup engagement between India and Japan.
The India–Japan Pitching Series has already connected 65 Indian startups with around 100 Japanese corporations and facilitated more than 30 business tie-ups.
She noted that the participation of a 222-member Indian business delegation provides an opportunity to forge new and enduring partnerships between the two innovation ecosystems.
At the India-Japan Startup Roundtable, Goyal proposed a forward-looking framework for the next phase of India–Japan startup cooperation, centred on four key pillars.
The first pillar is a Japan–India Deep-Tech Capital Corridor aimed at mobilising patient capital for early-stage research, deep-tech innovation and commercialisation.
The second is a Two-Way Innovation Bridge connecting universities, incubators, R&D institutions, laboratories and testing facilities in both countries.
The third pillar focuses on Manufacturing and Technology Integration, combining India’s scale, engineering talent and entrepreneurial dynamism with Japan’s precision engineering, technology and manufacturing capabilities.
The fourth pillar is Joint Startup Pitching Platforms, designed to facilitate regular interactions between Indian founders, Japanese corporations, venture funds and strategic investors.
India’s Proposed $1 Billion Fund of Funds
During the India-Japan Startup Roundtable, the Minister also highlighted the Government of India’s proposed second Fund of Funds of around US$1 billion, with a focus on supporting deep-tech enterprises.
He invited greater participation from Japanese investors in India’s growing deep-tech ecosystem.
Japanese stakeholders welcomed the increasing maturity of India’s startup ecosystem.
JICA Senior Vice President Shohei Hara emphasised the importance of a two-way partnership, noting that Japan can contribute its technological capabilities while learning from India’s ability to convert social and developmental challenges into scalable business opportunities.
JICA also expressed its intention to showcase opportunities in the Indian market to a larger number of Japanese startups.
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India-Japan Startup Roundtable: Around 40 Japanese Companies Participate
The India-Japan Startup Roundtable saw participation from senior leadership of the Tokyo Metropolitan Government and JETRO, which partnered with the Mission in bringing Japanese companies to the session.
Representatives of around 40 leading Japanese companies participated in the discussions.
These included SPARX Group, MUFG Innovation Partners, Beyond Next Ventures Inc., Incubate Fund Asia, Mizuho Financial Group, SBI Investment, Fujitsu Limited, DG Daiwa Ventures, ASTRO GATE Inc., Incubate Fund, Instalimb Inc., Universal Materials Incubator Co., Ltd., Kyoto Fusioneering Ltd. and Aerosense Inc.
Startups from various sectors, Indian business chambers and members of the Indian business delegation also participated in the India–Japan Startup Roundtable.
Focus on MSMEs and Global Supply Chains
Industry representatives at the India-Japan Startup Roundtable stressed the importance of integrating MSMEs with startups and global supply chains.
They also highlighted the need to provide plug-and-play infrastructure to companies seeking to manufacture and expand in India.
Venture capital investors identified AI, semiconductors, healthcare, space, defence, advanced manufacturing and deep technology as major areas for future India–Japan investment.
Investors also noted the visible transition of India’s startup ecosystem from predominantly internet and software businesses towards manufacturing- and technology-intensive enterprises.
Indian Startups Showcase Deep-Tech Capabilities
Indian startups participating in the India-Japan Startup Roundtable showcased capabilities across aerospace and defence, drones, artificial intelligence, healthcare, prosthetics, robotics, warehouse automation, mobility and digital health.
Several companies explored Japanese partnerships for technology validation, precision manufacturing, investment, market access and integration into Japanese and global supply chains.
The India-Japan Startup Roundtable recognised the highly complementary strengths of the two countries.
India offers scale, talent, digital capabilities and entrepreneurial speed, while Japan brings patient capital, advanced technology, manufacturing excellence and global quality standards.
Combining these strengths can help create globally competitive enterprises and technologies capable of serving markets in India, Japan and third countries.
India and Japan Seek Institutionalised Startup Partnership
The discussions at the India-Japan Startup Roundtable concluded with a shared emphasis on moving from individual engagements towards an institutionalised India–Japan startup and innovation partnership.
The proposed approach is expected to be supported by regular investor–startup interactions, technology partnerships, co-investment mechanisms and stronger linkages among universities, research institutions, incubators and industries in both countries.
The India–Japan Startup Roundtable thus reaffirmed the shared focus on strengthening startup, deep-tech, innovation and MSME cooperation while creating opportunities for greater investment, technology partnerships and integration between the two countries’ innovation ecosystems.
