Insights on Entering the Japanese Market from Local Startups and VCs
"MokTalk," held on Thursdays monthly, saw participation from over 100 individuals at the December Tokyo event.
Launched in September, MokTalk takes place every Thursday, aiding international startups in building local networks. The December 7th event, hosted at the Tokyo headquarters of Japan's largest VC, Global Brain, attracted over 100 stakeholders from the startup ecosystem, including startups, VCs, the finance sector, and journalists. The event facilitated free networking and shared insights on Japan market entry strategies through panel discussions with local VCs and startups.
Particularly, this event was held in the same week as Japan's largest startup events, ILS and JETRO's Korea-Japan Startup Night, and was co-hosted with Global Brain and Shinhan Future's Lab Japan, offering an opportunity to explore diverse networks within Japan. A participant highlighted, "By dedicating just 2-3 hours to MokTalk each month, you can engage in high-density networking."
VCs and Startups Share Insights on Japan Market Entry
During the MokTalk panel discussions, four VCs and three startup representatives shared their experiences and advice on entering the Japanese market.
<VC Talks>
โข
Jang Sehong, Colopl Next*:
"I am in charge of Korean startup investments at Colopl Next. To attract investment in Japan, the achievements made in Korea don't actually help much. Instead, even if it's small, I recommend preparing hypotheses or results of hypothesis verification in the Japanese market.โ
*CVC from Colopl, a Japanese mobile game developer known for the Colopl RUNE STORY.
โข
Sangwook Lim, Xenon Partners*:
"However, due to the complex procedures of foreign investment, there may be difficulties. Therefore, it would be advisable to seek out a VC with experience investing in Korean startups, or consider setting up a local subsidiary in Japan to receive investment."
*A US-based private equity firm specializing in B2B SaaS. Seed investment in Korea/Japan
โข
Lee Mingun, head of Samsung Venture Investment's Japan office*:
"With the announcement of the Japanese government's five-year plan for startup development, a favorable environment is certainly being created for Japanese startups. However, I think it's necessary to reconsider whether this is also beneficial for foreign startups. It is very difficult for Japanese VCs to invest in Korean startups without experience in Korea, especially since there is almost no experience of exiting in countries outside of Japan."
*CVC of Samsung Group.
โข
Han Kyung-wook, venture partner at Atinum Investment*:
"If you are seeking investment in Japan, I recommend getting investment from a company that understands your business and is a good match. Japanese investors often do not invest in companies that their competitors have invested in, so if you are receiving investment from a CVC (Corporate Venture Capital) or a VC associated with a major corporation, it is also necessary to check which corporate group they belong to.โ
*Korean VCs, Limited Partners (LPs) in the Japanese venture investment market
<Startup Talks>
โข
Aya Sakamoto, CCO of Channel Talk Corporation*, emphasized the importance of building trust in B2B businesses in Japan and shared their strategy for gradually expanding their customer base.
*Operating the business messenger service 'Channel Talk' for customer management, chat consulting, etc, with 14,000 client companies within Japan
โข
Park Hamin, CEO of NUGU*, shared his journey from running a fashion commerce business in Korea to launching a popup store in Harajuku, Japan, and eventually seizing the opportunity to enter the Japanese market.
*A fashion commerce platform targeting Japan's Generation Z, strong in influencer marketing. Achieved annual sales of 30 billion won.
โข
Hanamiya Mai, vice president of Contents Lab Blue Japan*, discussed the evolving interest of Japanese publishers in webtoons and their strategy of collaborating with various Japanese artists to create globally recognized webtoons.
*Korean webtoon studio collaborates with Japan's Shueisa, creator of One Piece, Naruto, and more. Its own webtoon, "The Youngest Son of a Swordsmanship Master," ranked No. 1 in daily sales on Japanese webtoon platform Pikkoma.
