After years of economic rusting, Japan is looking forward to becoming the hub for ‘entrepreneurs’ in the next decade or so. Osaka, Japan’s largest metropolitan region after Tokyo, the “Umekita Phase 2” which served as the former rail depot in the work-alcoholic nation, will see the rise of new unicorn startups beginning from 2024.
The site’s development is a part of the ‘Grand Front’, which is already home to many startups and business accelerators. A series of towers, the future hubs of entrepreneurs, innovators, and incubators will be constructed.
Japan aims to attract students from universities, and researchers from technology enterprises to the ‘new hub’. Officials believe that the very nature of Osaka, respecting IT and hardware, itself creates a great environment for IoT startups. While the upcoming hub at the ‘Umekita Phase 2’ is mainly focused to host biotech and pharmaceutical firms.
The new initiative by the Japan government is quite exciting as it offers the debt-ridden nation, a new hope, creating enough employment opportunities, along with building a self-sustainable business ecosystem.
In Asia, the Indian startups are currently eyeing on IT, and Tech space, with Japan eyeing the biotech and pharmaceutical space, both these nations can well dictate the ‘future’ technology among major sectors.