Mori building fosters Japanese startups in Silicon Valley to drive innovation and economic growth

(Construction) – Nearly a year has passed since Japanese developer Mori Building opened a support hub in Silicon Valley, to nurture Japanese startups with global ambitions.

This base now houses 99 companies, primarily Japanese businesses aiming to enter international markets. These startups promote their innovations and activities through pitch events and showcases at the facility. Mori Building aims to attract startups with solutions to social issues back to Japan, bolstering Tokyo’s value as a global metropolis.

In recognition of startups with dual objectives of addressing social issues and fostering economic development as pivotal to Japan’s economic growth, the Japanese government launched the “Startup Five-Year Plan.” The developer’s hub is part of the Ministry of Economy, Trade and Industry’s support program.

Mori Building’s Silicon Valley base, known as the Japan Innovation Campus (JIC), opened on November 12, 2023, and includes coworking and event spaces with approximately 860 square meters. The facility, located in Palo Alto City, California, is housed in a repurposed 97-year-old former bakery and stands near Stanford University and Sand Hill Road, home to many VCs and incubators from various countries.

“Our goal is to contribute to Japan’s economic growth and elevate Tokyo to a world-class city by further expanding the innovation ecosystem,” noted JIC’s general manager.

Of the 99 startups currently using JIC, 51 joined in January, and 48 in October. They represent diverse fields, including IT, AI, healthcare, and “deep tech”—advanced technologies with significant problem-solving capabilities. Entrepreneurs gather weekly for pitch sessions over lunch and participate in regular showcases to present their strengths and strategies. JIC also collaborates with JETRO’s San Francisco office, hosting various events to create a favorable environment for startups entering the market.

As the one-year mark approaches, the developer acknowledges that enhancing the recognition of startups based at JIC is an ongoing challenge, advocating for steady promotion efforts. The METI project is set to continue until fiscal year 2027, with plans to increase the number of startups accepted by roughly 50 each year. (2024/11/06)

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