Japan has been engulfed by young entrepreneurs who are changing the face of the economy. The youth of the country is getting inspired by other young entrepreneurs who have created success by forging meaningful networks with mentors and investors. These young entrepreneurs are also being wholly supported by the booming economy which is an outcome of Prime Minister Shinzo Abe's 'Abenomics'.
Derrick Noble, Vice President of Corporate Trading at Tokyo based, Fidea Group says, "Young entrepreneurs shouldn't be worrying about the economic crisis that Japan dabbled with in the past. They should put their energy into rewriting the history of the new Japan. Japan should now focus on creating its own Silicon Valley in Tokyo."
Fidea Group has been supporting young entrepreneurs across the world. The success of Japan's young entrepreneurs can be gauged from the fact that out of the five investments that Fidea Group has done in the past five years, three have gone to founders who are from the University of Tokyo and one has gone to a founder who is from the Kyoto University.
Noble says, "There was a time when the young talent that came out of Japanese universities went straight either into government jobs or joined big firms. However, this trend is changing now. These days, young people are more interested in setting up their own venture than working for someone else."
The story of Yoshikazu Tanaka is an impressive one. Tanaka founded Gree, Inc., a Tokyo-based mobile gaming company. Today, he is one of the youngest billionaires in the world.
The journey was a tough one, but Tanaka was driven by passion. He left his stable and well-paid job at an established company to set up his dream company at the age of 27. Today, Tanaka is 36 and according to Forbes, his net worth is $1.9 billion.
Likewise, the story of Tomoka Namba is an inspirational one. Namba is one of the most successful female entrepreneurs in Japan. She is the founder of DeNA Co., a web service company based out of Tokyo. Namba left McKinsey & Co. when she was in her late 30s to start her own venture. Today, she is a household name in Japan.
Though the world is full of awe-inspiring female leaders like Sheryl Sandberg and Marissa Mayer, Namba stands out because she created an empire of her own on her own.
Noble says, "Tokyo has the right social environment for budding entrepreneurs. This is precisely why it has been attracting the attention of venture capital companies. More than 500 Fortune companies have their headquarters in Tokyo. Its broadband connectivity comes second after South Korea. Its GDP is double that of Los Angeles. All of these factors come together to make Tokyo an ideal place for investors to put in their money and for entrepreneurs to test their skills."
The Prime Minister of Japan, Shinzo Abe, is also promoting deregulation and taking other steps to boost the economy.
The Prime Minister's office declared a powerful growth strategy in June. This strategy revolves around promoting deregulation and green energy. An important facet of this strategy is to include more and more Japanese women in the economy.
This is the third arrow of Abe's 'Abenomics'. Its first arrow was quantitative easing and its second arrow was an aggressive fiscal policy. The three arrows have combined to yield positive results.
After the government declared its third arrow, the prices of Japanese shares went up. The Gross Domestic Product has also seen a rise and most importantly, unemployment has gone down.
The world is impressed with Abenomics and Abe's efforts to pull Japan out of stagnancy and an impending deflation.
Noble says," Abe's commitment towards Japan is impressive. This determination becomes even more evident every time the Prime Minister says 'there is no alternative'."
According to financial analysts and observers, for Japan to be able to achieve sustainable long-term economic growth, it must achieve success in its growth strategy. Abenomics is one of the best things that have happened to Japan in the last one decade -- the country is moving in the right direction.
With deregulation, Japan's economy will most likely move forward towards suitability.
Source: Derrick Noble, Vice President of Corporate Trading with Tokyo based, Fidea Group
Contact: https://fideagroup.com
