SBI Holdings is investing $663 million in the Web3, AI and Metaverse areas, aiming to support several hundred startups. The fund is expected to change the landscape of Japan’s technology industry and attract global investment. This initiative is an integral part of the 5-year startup development plan. The government is also working on tax reforms to meet the needs of Web3 companies.

• The SBI wants to support between 150 and 200 startups, with a fund of up to 663 million dollars.
• The public and commercial sectors are expected to join forces to realise the dream of elevating Japan to the top of Asia’s startup hubs, with the aspirational goal of increasing investment in startups tenfold by 2027.
• The Japanese government realises the importance of quickly adapting tax legislation to the specific requirements of Web3 companies.

Japanese finance giant, SBI Holdings, is about to take a bold journey into the Web3, artificial intelligence and Metaverse, signalling a major shift towards cutting-edge technology. SBI is not only dipping into the startup ecosystem, but actually diving into it, hoping to support between 150 and 200 startups with an impressive fund of up to$663 million. With this fund, SBI and the Japanese startup community will begin a new chapter, preparing for incredible changes in the era of digital innovation.

Another technological revolution in Japan

At the core of this massive project is the SBI’s plan to support domestic technology companies and make sure they are not left behind in the global innovation race.

Significant investments by SBI, which range from several hundred million to billions of yen per initiative, are paving the way for a major shift in the startup scene in Japan.

The country’s major and regional banks are being strongly encouraged to pool their resources to spark a move that could completely change Japan’s position in the technology industry.

The involvement of titans from the insurance and securities branches, as well as powerful financial organisations such as Sumitomo Mitsui Banking Corporation and Mizuho Bank, is testament to working together to initiate a new wave of Japanese innovation.

Supporting the startup ecosystem in Japan

The Kishida administration’s 5-year startup development plan, which reflects the current Japanese trend, emphasises the need to create a thriving startup ecosystem at the national level.

Japan’s birth rate of startups and the number of unicorns (startups valued at least a billion US dollars) are well behind their Western counterparts, despite the plethora of contenders, highlighting the urgent need for reform.

In the ‘new capitalism’ vision of government administration, startups are seen as leaders, driving the social engine and creating a sustainable economic society.

The public and commercial sectors are expected to join forces in a coordinated effort to realise the idea of catapulting Japan to the top of Asia’s startup hubs and beyond, with the aspirational goal of increasing investment in startups tenfold by 2027.

Navigating the Web3 sea

In order for Japanese entrepreneurs to really take off, they need more than cash injections; they also need to be in a supportive atmosphere, especially in the still developing and still not entirely clear field of Web3.

The Japanese government realises the importance of quickly adapting the tax system to the specific requirements of Web3 companies.

The ongoing discussion on tax reforms, which may soon change, especially in the area of the valuation of the market value of internally-issued cryptocurrency assets, shows Japan’s determination to get rid of obstacles and make things easier for Web3 companies.

A turning point in the history of Japan’s technology industry is approaching, as a decision on tax reform is already on the horizon. SBI is leading the way in this story, ready to capture the world’s attention with creative individuals and bold ideas.

This is not just a new chapter for SBI; rather, it is a call to the whole country to support the dreamers, visionaries and pioneers who want to transform the digital environment of the future.