According toAInternationalEntrepreneurship.com, Total Japanese Entrepreneurial Activity Average (TEA) during 2001-2009 was 3.2%, which was one of the lowest rates amongst the world’s leading nations.
Japan is moving towards a more dynamic work force, but failure is a more serious obstacle than in the West.
The entrepreneurial view in Japan is still based on individuals starting a convenience store or restaurant and the average citizen is very cautious and risk averse- being free from the wrath of a comfortable life legacy corporate system is not encouraged.
But be not scared, at a recent Startup Weekend session in Tokyo,ADave McClure - a Silicon Valley tech entrepreneur, startup investor, and bloggerAemphasized the importance of projects solving aAproblem- pitch the problem, and share the problem.
In this Forbes article, Yoko Ishikura, a strategy professor at Hitotsubashi University, says that the country has to stop being afraid of dealing with the outside world; companies fear "the loss of competitive advantage if we open up, so we get into this vicious cycle of internal orientation."
Japan Venture Capital Association was started in 2003 with the aim of getting better data on the venture capital market as well as help to develop and improve investment firms (something that has existed in the US since 1973).
Further reading on investment information and exit strategies in Japanese investment can be found atAfutu-risk.com.