February 22, 2024

We are creating some awesome events for you. Kindly bear with us.

Japanese government to help local firms’ digital tie-ups with foreign start-ups

Image Credits: The Japan Times, News Article

Later this month, the government will set up a new framework to back up cooperation between midsize companies in rural areas and foreign start-ups, mainly from Asia, aiming to promote private-sector digital operations. The framework is designed to encourage Japanese companies to reform their businesses through the joint development of goods and services related to digital transformation with foreign partners.

The government plans to provide intensive support in five fields, including decarbonisation, a key policy of the administration of Prime Minister, and health care, the importance of which has been growing amid the novel coronavirus pandemic. The other three are next-generation mobility; retail business, for which digitalization is progressing amid the pandemic, and agritech, which combines agriculture and digital technology.

Moves for digital transformation have been accelerating in Asia. Under the new framework, the industry ministry will take the lead in matching midsize Japanese firms with foreign start-ups that have unique services and technologies mainly by setting up business meetings and conducting market research based on advice from experts.

On top of the joint development of products and services, the ministry will help Japanese firms invest in and acquire overseas companies through the framework. The initiative is expected to mainly target companies from Singapore, India, Indonesia, Vietnam, Australia and Israel as possible partners for Japanese companies.

The government aims to achieve net-zero emissions of greenhouse gases by 2050, as well as spread offshore wind power generation by helping improve technologies related to large windmills. Tokyo wants the new framework to promote digital transformation at Japanese makers of related parts and materials, and their overseas operations.

Japan ranked 27th in the 2020 digital competitiveness survey conducted by Switzerland’s International Institute for Management Development, far behind Singapore, Hong Kong and South Korea, which came in second, fifth and eighth, respectively. It was noted that if Japanese companies tie-up with foreign firms with excellent data analysis skills, a momentum to reform will spread in Japan.

According to another article, Japan’s economy will likely recover to levels before the coronavirus pandemic as early as March next year, according to the Governor of the Bank of Japan who offered an upbeat view on its recovery prospect despite headwinds from COVID-19.

He noted that a combination of expansionary fiscal and monetary policies have successfully stabilised Japan’s economy, signalling that the BOJ has offered sufficient stimulus, for now, to cushion the economic blow from the health crisis.

The key challenge for policymakers would be to prevent the pandemic from leaving a lasting scar on the economy, and to provide impetus to growth such as by promoting digitalisation and a “green” economy, the Governor said. “Greening the economy…was important before the pandemic. But now it’s more important. It would make our economy more sustainable. At the same time, it would provide some growth impetus.”

Recently, major tech companies and firms urged the Japanese government to make its 2030 renewable energy target twice as ambitious. The Prime Minister, last year, set a 2050 deadline for Japan to become carbon-neutral, but the country’s shorter-term renewables goal has long been seen as lagging.

Japan currently aims to source between 22 and 24 percent of its power from solar, wind and other renewables by 2030, a target set three years ago and soon to be reassessed as the government revises its energy strategy. A group of 92 corporations known as the Japan Climate Initiative on Monday urged ministers to double this goal to 40-50 percent. Many of Japan’s biggest firms as well as household names in insurance, electricity and food and drink, signed the petition.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend