India and Japan are looking to strengthen startup and innovation ties, with a new four-pillar framework focused on deep tech, investment, manufacturing and technology partnerships. Speaking at the India-Japan Startup Roundtable in Tokyo, Commerce and Industry Minister Piyush Goyal said India has emerged as the world’s third-largest startup ecosystem, with nearly 250,000 startups established over the past decade.
Goyal attributed the growth to India’s large domestic market, expanding pool of STEM talent, digital public infrastructure and growing innovation ecosystem. The roundtable brought together government officials, investors, industry leaders and startups from both countries to discuss investment, technology partnerships and opportunities for closer economic cooperation.
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India-Japan startup partnership gets a four-pillar framework
Goyal proposed a four-pillar framework to take India-Japan startup cooperation to a deeper level. The first pillar is a Japan-India Deep-Tech Capital Corridor, designed to bring more patient capital into early-stage research, deep-tech development and commercialisation.
The second is a Two-Way Innovation Bridge connecting universities, incubators, research institutions, laboratories and testing facilities in both countries. The aim is to make it easier for startups and researchers to access expertise and infrastructure across the two markets.
The third pillar focuses on Manufacturing and Technology Integration. Under this approach, India’s scale, engineering talent and growing manufacturing base could be combined with Japan’s expertise in precision engineering and advanced manufacturing.
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The fourth pillar is Joint Startup Pitching Platforms, which would create regular opportunities for Indian founders to engage with Japanese corporations, venture capital funds and strategic investors. Goyal also highlighted the government’s proposed second Fund of Funds, worth around $1 billion, which will focus on deep-tech enterprises. He invited Japanese investors to participate in the initiative.
India-Japan startup connections are already growing
The two countries already have several programmes connecting their startup ecosystems. Indian Ambassador to Japan Nagma Mohamed Mallick said the India-Japan Pitching Series has so far connected 65 Indian startups with around 100 Japanese corporations. These engagements have led to more than 30 business tie-ups.
Mallick also pointed to the participation of a 222-member Indian business delegation in Japan, saying it created opportunities to develop longer-term partnerships between Indian and Japanese businesses. JICA Senior Vice President Shohei Hara welcomed the expanding cooperation and called for a two-way partnership. Japan, he said, can contribute its technological capabilities while learning from India’s experience of turning social and developmental challenges into scalable business opportunities.
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JICA also plans to showcase opportunities in the Indian market to a larger pool of Japanese startups. The roundtable was attended by representatives of the Tokyo Metropolitan Government and the Japan External Trade Organization (JETRO), which partnered with the Indian Mission to bring Japanese companies into the discussions.
Around 40 Japanese companies took part, including SPARX Group, MUFG Innovation Partners, Beyond Next Ventures, Incubate Fund Asia, Mizuho Financial Group, SBI Investment, Fujitsu, DG Daiwa Ventures, ASTRO GATE, Instalimb, Universal Materials Incubator, Kyoto Fusioneering and Aerosense.
AI, semiconductors and space emerge as key investment areas
Investors at the roundtable identified artificial intelligence, semiconductors, healthcare, space, defence, advanced manufacturing and deep technology as promising areas for future India-Japan investment.
The discussions also reflected how India’s startup landscape is changing. While internet and software businesses have traditionally attracted significant attention, investors are increasingly looking towards startups working in manufacturing, engineering and advanced technologies.
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Indian startups at the event presented solutions across aerospace and defence, drones, AI, healthcare, prosthetics, robotics, warehouse automation, mobility and digital health. Several startups explored potential partnerships with Japanese companies covering technology validation, precision manufacturing, investment, market access and integration with Japanese and global supply chains.
Indrani Priyadarshini is a journalist and editorial professional specialising in technology, artificial intelligence, smart cities, green energy, and digital transformation. With over four years of experience in tech journalism and digital media, she is known for turning complex industry developments into clear, engaging, and insightful stories. Her expertise spans reporting, editorial strategy, digital publishing workflows, and in-depth coverage of emerging technologies shaping the future.
