5 Reasons for Nordic Climate Tech Startups to Look into Japan
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The Nordic Decarbonization Forum Japan is coming up on October 22-24th, an online partnering conference that connects Nordic climate tech/decarbonization innovations and Japanese investors and industry.
Why look into Japan now? Here are 5 reasons!
1. Commitment to sustainability: roadmap to carbon neutrality by 2050
Japan has a target to achieve carbon neutrality by 2050, and the government is taking initiatives to cultivate sustainability and green innovation across industries.
The GX (Green Transformation) Promotion Act, enacted in May 2023 stipulates that it will require 150 trillion JPY (approx. 1 trillion USD) in investments from public and private sectors over the next decade to decarbonize the society. The government initiated the investment by issuing the GX Economic Transition Bonds of approximately 20 trillion yen.
2. Green transition as economic growth - METI’s initiatives
The green transformation is recognized not only as a social responsibility but as a significant trigger for economic recovery and enhancing global competitiveness.
The Green Innovation Fund, initiated by the Minister of Economy, Trade, and Industry (METI) allocates 2.3 trillion yen (approx. 16 billion USD) to support companies working within the following 14 significant areas of potential economic growth.
3. Transitioning the energy mix
The majority of the energy supply in Japan still originates from fossil fuels whereas the Nordics have been increasing the portion of renewable sources. This gap is a potential for Nordic green energy solutions to play a role in Japan’s energy mix transition.
For Japan, the energy transition is also an opportunity to increase its energy self-sufficiency rate. Currently, Japan depends on imports for over 85% of its energy resources.
4. Rich in technology: leading number of patents in the climate tech field
Japan is home to a significant number of patents related to Climate Tech. Collaborating with Japanese companies can provide Nordic startups with opportunities to enhance their own technologies and business development.
Japan Startup Ecosystem June 2024 https://www.meti.go.jp/policy/newbusiness/global_promotion.pdf
5. Increasing investment from Japan to the Nordics
Finally, investments from Japan to Nordic climate tech solutions are on the rise. Below are some of the cases within the last few years. Japanese trading companies and manufacturing companies are seeking strategic partnerships with startups and scaleups that provide synergies within their existing business fields.
Invitation to Nordic Decarbonization Forum Japan
If you are a Nordic Climate tech startup, scaleup, or a growth company and seeking opportunities in Japan, join us for Nordic Decarbonization Forum Japan on October 22-24th.
This is a unique opportunity to meet with Japanese stakeholders including large corporates, trading companies, and venture capitalists eager to collaborate with and invest in Nordic decarbonization solutions.
Nordic companies can join fully online.
Don’t miss the early signup! Register your interest from the form below and you’ll be the first to know when our matchmaking platform is open.