For decades Japan has been known as an industrial powerhouse, but also an economy that’s relatively closed to international talent. That’s beginning to change as the government rolls out the welcome mat in an effort to boost local startups. A new startup visa is available in National Strategic Special Zones, including Tokyo. Depending on the area, successful applicants are granted a 6-month or 1-year temporary residence permit. In December 2020, Tokyo ranked third in the Mori Global Power Cities Index, which analyzes cities’ attractiveness for relocation based on startup activity, levels of R&D, and livability. This new spirit of openness and innovation can be felt at Tokyo’s many startup hubs and events. Venture Café Tokyo, founded on the principle of “serendipitous collision,” connects founders, investors, and students. Non-profit Startup Lady Japan helps women conduct business locally and internationally. It runs a 60-day Startup Challenge and a 6-week startup boot camp featuring intensive workshops and mentorship. Tokyo also hosts the Gartner IT Symposium/Xpo, where IT executives and experts convene virtually to share insights, as well as the Tokyo Financial Information & Technology Summit, which focuses on data and technology in capital markets. Notable funding news coming out of the ecosystem includes the announcement of US$100 million in financing for mobile gaming company Playco in September 2020, bringing the company’s valuation above $1 billion and adding it to the list of Japanese unicorns. Space technology company Axelspace raised a $24 million Series C in May 2021.