#22 Competitive advantage to Co-creation advantage ?
Co-creation values between Japanese companies and startups in Asean
Trend of “Open innovation" and "Co-creation”
I don't know how much you are aware of this, but in today's corporate world within Japan, the words "open innovation" and "co-creation" are commonplace in the sense of collaborating with startups, emerging companies, and other external professionals and companies.
Of course, if anything, super large companies and large companies were starter to treat it like a trend, but the trend is still beginning to gradually permeate small and medium-sized companies also there.
Of course, even among them, polarization is progressing.
On the one side, they take such open innovation and co-creation as mere words, trends, and booms, and they do not take any concrete actions, or do things that seem to be taking place and do irrelevant things.
On the other side, they actively learn the essential value, grasp it as one of the important issues in management strategy and business strategy by their top management, and firmly formulate strategies from short-term and medium- to long-term perspectives. And their planning and execution are carried out practically every day, and their trial and error are repeated every day.
By doing so, they are firmly planting the seeds that will certainly produce fruitful value in the near future, and they are trying to make them grown together with their business partners outside.
Of course, the latter one is the Japanese companies which we are practically and seriously working with and for.
And their related efforts are starting to turn to emerging countries and markets, one of their focus markets.
in today's corporate world within Japan, the words "open innovation" and "co-creation" are commonplace in the sense of collaborating with startups, emerging companies, and other external professionals and companies
“Open innovation" and "Co-creation” within Emerging markets
As one example, Japanese companies are looking for local partners and startups in Southeast Asia, which holds promising markets for their Japanese products and services, even if hurdle exist for them to be matched and collaborated well with local startup there.
In last day, Japan and Singapore agreed to strengthen cooperation in supporting startups as Tokyo seeks more partnerships between Japanese and Southeast Asian companies.
Under that so-called fast track initiative, big companies in both countries will identify challenges and solicit business proposals from startups.
Tokyo intends to expand this initiative to other fast-growing Association of Southeast Asian Nations economies including Indonesia, Thailand, Vietnam, Philippines, and Malaysia etc.
Singapore to kick off Japan-ASEAN initiative on startups
As mentioned, Japanese companies are looking for local partners and startups in Southeast Asia, which holds promising markets for their Japanese products and services, but still hurdle exist for them to be matched and collaborated well with startup there.
That is where I and we are to practically fill the gap and catalyze the mutual synergies well.
Areas of cooperation include medical healthcare, education, logistics supply chain etc etc, the growing needs in the region.
Japanese companies are looking for local partners and startups in Southeast Asia, which holds promising markets for their Japanese products and services
In fact, many Japanese companies are seriously working on that as part of their company-wide management strategies and business strategies.
I would like to cite a few examples below.
Mitsubishi UFJ Financial Group, Japan's largest megabank, has established a $100 million investment fund dedicated to Indonesian startups. Their Megabank looks to boost Indonesian subsidiary Danamon with tech collaborations.
Indonesia is second only to Singapore in number of startups produced among Southeast Asian countries.
Their group's venture capital unit MUFG Innovation Partners is managing the fund. Plans call for the vehicle to inject cash into about 15 startups.
Japan's largest megabank, has established a $100 million investment fund dedicated to Indonesian startups
Asian QR code payment apps are flooding into Japan, allowing visitors to the country to use their phones to make purchases just like they do at home.
Japanese payment startup Netstars announced that it will partner with Vietnam's Military Commercial Joint Stock Bank -- known as MB Bank -- to facilitate payments using the bank's QR code system at Tokyo Dome City, a major sports, leisure and shopping facility in Japan's capital.
Retailers in Japan hope to grab more inbound tourism sales with adoption of the systems.
QR code payment systems are popular in Southeast Asian countries like Vietnam, where almost everyone has a phone but many lack a bank account.
Japanese payment startup Netstars announced that it will partner with Vietnam's Military Commercial Joint Stock Bank -- known as MB Bank -- to facilitate payments using the bank's QR code system in Tokyo, Japan
One of largest Japanese multinational electronics company and one of the world's largest manufacturers of computer printers and information- and imaging-related equipment, their Printing and Scanning tech and hardware/software act as a bridge between output and input, connecting the real and the digital.
Focusing on that characteristic, they are trying to create a wide variety of solutions by co-creating with startups and partner companies in various specialized fields. Including home printers, it is possible to connect tens of millions of devices worldwide.
Their new solution with external co-creation partners make maximum use of the infrastructure that can deliver new services to the whole world. Even if the demand for printing on paper declines, the fields where it can make use of their technology will continue to expand worldwide with external co-creation partners worldwide.
One co-creation example case between them and startups is to be shared.
By combining their remote technology with the existing learning management system (LMS), they support remote learning with home for cram schools venture.
Even if their students can't go to the classroom due to the coronavirus pandemic, they can immediately submit assignments to the cram school by remote printing and remote scanning in combination with online classes, and the progress will be recorded in detail on the LMS. Even in a remote environment, the teacher can grasp the learning situation of the student without burden, and it has become possible to provide learning guidance tailored to each individual.
In addition, by adopting an eco-tank model that achieves low-cost printing and automatically delivering consumables, they have reduced the extra works on the site. As in this example, the concept of developing and providing new solutions with partner companies are starting from their key and globally competitive devices and hardware.
They are looking at further opportunities in Asean South East Asian market, fostering open innovation and co-creation with local startups and companies in each market; areas of the cooperation may include medical healthcare, education, logistics supply chain etc etc.
they are trying to create a wide variety of solutions by co-creating with startups and partner companies in various specialized fields. Including home printers, it is possible to connect tens of millions of devices worldwide
We are looking forward to more communicating and working together with startups and also the ecosystem key players in South East Asia, like venture capital firms, accelerators, financial institutions, and relevant associations etc in the region.
We can try to make efforts together to lead the initiative and actual records more there for economical and social impact on their ground.
Let's accomplish together.
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