On Oct. 9, Plug and Play LA — a global innovation ecosystem and venture capital firm with a presence in over 50+ locations worldwide — hosted an event in partnership with the Japanese government.
This event was made possible through a collaboration with JETRO (Japan External Trade Organization), whose goal is to accelerate startups from Japan in Los Angeles across different stages of maturity and traction. The event was held at the Los Angeles home of Consul General of Japan Kenko Sone.
The initiative aims to empower the next generation of Japanese entrepreneurs by providing them access to the thriving Los Angeles tech and venture capital ecosystem, provide mentorship and support, and facilitate business expansion abroad.
As part of this effort, promising startups from Japan Plug and Play participated in an exclusive showcase during the event, presenting their innovations to a select group of investors and corporations in the audience.
The program is also supported by World Trade Center of Los Angeles.
The afternoon opened with remarks from Sone, followed by a speech from Stephen Cheung, president and CEO of LAEDC (Los Angeles County Economic Development Corporation) and WTCLA.
Next, Erin Bromaghim, deputy mayor of Los Angeles, took the stage to discuss the importance of Japanese industry to the Los Angeles economy. Finally, Akira Kajita, chief executive director of JETRO LA, shared the history of collaboration and goals of this partnership.
Plug and Play and JETRO’s partnership has supported Japan’s 5-Year Plan initiative to allow Japanese startups to scale internationally and drive advancements in key sectors such as digital transformation, sustainability, and artificial intelligence.
“As a trusted partner for government initiatives worldwide, Plug and Play has been instrumental in shaping this accelerator program with JETRO, leveraging its global network and expertise to support Japanese startups as they navigate and grow within the dynamic Los Angeles ecosystem,” said Jamie Lipman, head of partnerships for Plug and Play Los Angeles.
Some of the key points made throughout the keynote speeches:
- More than 1,000 businesses and 40,000 jobs in Los Angeles are from Japanese companies.
- During last year’s event, 11 startups presented and now eight of those have U.S. offices.
- Los Angeles and JETRO have worked together for more than 20 years. Japan is Los Angeles’ No. 1 foreign investment partner.
- JETRO’s goal is for Japan to be the No. 1 tech hub in Asia.
- The goal of this partnership is to further the union between Los Angeles and Japan and create continued economic success for both.
- Los Angeles is a great location for Japanese startups to expand due to its large market (nearly 19 million people including surrounding areas like Long Beach, Port of Los Angeles Orange County, etc.) its diverse market, and its long history between the two shipping ports.
- Plug and Play is the perfect place for these startups as the “l(fā)ive, play, work” culture allows startups to be mentored, to network with each other and to live on-site in the heart of Los Angeles during their accelerator experience.
The startup pitch presentation featured six of the 13 total startups in the program. Presenters included:
TopoLogic, Panalyt, Omakase, SalesMarker, Oyraa and Riv Inc. The remaining startups — Dwilar, Monoya, The Rich, Lumeal, Menux, Kotozna and CastCraft — shared their information via QR code for follow up with all attendees.
The event was completed with a networking event featuring Japanese cuisine, small bites and beverages.