TOKYO—Stripe, a financial infrastructure platform for businesses, today announced an inaugural partnership with Tokyo’s Shibuya City Office that will help incubate and accelerate the startup ecosystem in one of Japan’s most famous neighborhoods.
The Japanese government views startups as key to the country’s economic growth. It recently appointed a cabinet-level minister dedicated to startups, and in 2021 startups in Japan received $7.1 billion in funding—a record sum. At the same time, the country still struggles to produce globally competitive unicorns. Japan's leading business federation, Keidanren, plans to help build 100,000 startups and 100 unicorns in Japan over the next five years—up from 10 unicorns today. Shibuya will play a central role in that transformation.
The neighborhood of Shibuya is a Tokyo landmark, known for its scramble crossing through which hundreds of thousands of pedestrians pass each day. It is also a center of startup activity, attracting entrepreneurs from around the world by providing assistance with visa applications and incorporation. Stripe will be part of Shibuya Startup Support, a concierge service for startups.
"Shibuya is not only a center of culture, it is also a center of technology. We look forward to learning from Stripe’s strong heritage as a startup leader to build a bridge from Shibuya to Silicon Valley and beyond," said Ken Hasebe, mayor of Shibuya Ward.
Stripe will provide mentoring, technical training, and consultation with engineers, plus special pricing on Stripe products. These include its core payments product and Stripe Connect, which makes managing payments easier for marketplaces and their users.
“Shibuya is an incredible location with a vibrant startup scene. This collaboration between Shibuya and Stripe is a strong endorsement that society and global tech leaders see startups playing a key part in Japan’s future,” said Patrick McKenzie, a serial entrepreneur who founded a company in Shibuya and now works at Stripe.
"Stripe is committed to working with the Shibuya City Office to revitalize the startup ecosystem in Japan. Together, we can support the Japanese government’s plans to digitally transform the economy," said Daisuke Aranami, country lead for Stripe Japan.