Akihabara News (Tokyo) — In the third episode of the Akihabara News podcast Japan Startup Megaphone, venture capitalist Jennifer Perez of the Future Food Fund gives us the lay of land for the emergence of FoodTech startups in Japan.
Perez explains that the Future Food Fund aims to “create a little bit of noise” about the FoodTech sector in Japan, helping fledging startups get off the ground through early investments and community building.
This pioneering project has been supported by partners both within and outside the business sectors that one might expect; including, for example, utility firms and television stations.
“It’s really a wide set of partners that we are working with,” she observes.
Perez notes that this country already has a formidable reputation when it comes to cuisine, so the development of a vibrant FoodTech sector makes a lot of sense. She notes, “There is something inherently good and delicious about Japanese food.”
That said, the ecosystem for business startups in Japan remains largely underdeveloped.
“Money is not really the issue here,” Perez explains, but Japan’s FoodTech startups have tended to lack platforms upon which they could interact with the public and receive needed feedback.
What Japan’s FoodTech needs most of all, however, are a few major success stories in which startups produce impressive exits, whether this be by going public or being acquired by larger firms. Once such a “pattern of winners” is achieved, a heightened level of attention and investment is likely to come to the sector.
The full podcast is linked below.