Commerce and Industry Minister Piyush Goyal highlighted India's emergence as the world's third-largest startup ecosystem with nearly 250,000 startups established over the last decade at the India-Japan Startup Roundtable in Tokyo. The event brought together senior government representatives, investors, industry leaders, and startups from both countries, reaffirming their commitment to deepen cooperation in startups, deep technology, innovation, and MSMEs.
Minister Goyal proposed a four-pillar framework for India-Japan startup cooperation: a Japan-India Deep-Tech Capital Corridor to mobilize patient capital for early-stage research and commercialization; a Two-Way Innovation Bridge connecting universities, incubators, and R&D institutions; Manufacturing and Technology Integration combining India's scale and engineering talent with Japan's precision engineering; and Joint Startup Pitching Platforms for regular interactions between Indian founders and Japanese investors. The Minister also announced the Government of India's proposed second Fund of Funds of approximately $1 billion focused on supporting deep-tech enterprises and invited greater participation from Japanese investors.
The roundtable saw participation from around 40 leading Japanese companies including SPARX Group, MUFG Innovation Partners, Beyond Next Ventures Inc., Mizuho Financial Group, SBI Investment, and Fujitsu Limited. JICA Senior Vice President Shohei Hara emphasized the importance of a two-way partnership, noting Japan's technological capabilities and India's ability to convert social challenges into scalable business opportunities. The India-Japan Pitching Series has already connected 65 Indian startups with approximately 100 Japanese corporations and facilitated more than 30 business tie-ups.
Industry representatives stressed the importance of integrating MSMEs with startups and global supply chains while providing plug-and-play infrastructure for companies seeking to manufacture in India. Venture capital investors identified AI, semiconductors, healthcare, space, defence, advanced manufacturing, and deep technology as major areas for future India-Japan investment. Indian startups showcased capabilities across aerospace and defence, drones, artificial intelligence, healthcare, prosthetics, robotics, warehouse automation, mobility, and digital health, exploring partnerships for technology validation, precision manufacturing, and market access.
The discussions concluded with a shared emphasis on moving from individual engagements toward an institutionalized India-Japan startup and innovation partnership supported by regular investor-startup interactions, technology partnerships, co-investment mechanisms, and stronger linkages among universities, research institutions, incubators, and industries in both countries.