Marking Their first Global Market Expansion, Living Lab Ventures Establishes Presence in Japan

Japan, 8 February 2024 – Living Lab Ventures (LLV), the corporate venture capital of Sinar Mas Land is thrilled to announce their expansion into the vibrant Japanese market. This strategic move marks a significant milestone in LLV’s commitment to fostering innovation and startup ecosystem growth in both Indonesia and Japan. The expansion is made possible through the invaluable support of the Japan External Trade Organization (JETRO). JETRO’s commitment to facilitating business collaborations between Japan and international partners has been instrumental in making this venture a reality. It is worth noting that LLV had previously signed a Memorandum of Understanding (MoU) with JETRO last year, highlighting the strong foundation for the continuation of collaboration between these two entities.

LLV is involved in the smart city project BSD City, developed by Sinar Mas Land, where LLV is creating an ecosystem related to urban development areas, providing funding to promising global-minded startups in Indonesia. BSD City is one of Indonesia’s largest urban development projects, spanning approximately 6,000 hectares, an area equivalent to the inside of Tokyo’s Yamanote Line, and is home to around 400,000 residents in Japan. LLV supports startups within this ecosystem through three main activities: Investment, Incubation & Integration, and Venture Building. To date, LLV has invested in 27 startups, focusing on Smart Technologies, Digital Life, and the Mobility sector.

Executive Vice President of JETRO, Kazuya Nakajo explained, “JETRO is working towards promoting collaboration between Japanese companies and foreign startups through initiatives such as J-Bridge and support for Japanese startups overseas expansion. They are striving to create a cycle between the startup ecosystems of Japan and other countries. I am delighted to hear that Living Lab Ventures has been invited to Japan, which will help support cross-border challenges by Japanese startups and companies.”

Chief Transformation Officer Sinar Mas Land, Mulyawan Gani said, “The expansion of Living Lab Ventures into Japan signifies our dedication to creating a global network of innovation. On a corporate level, Sinar Mas Land has a rich history of establishing strong and positive business partnerships with Japanese companies. We’re thrilled to see how this initiative unfolds and hopeful this could be a new avenue to drive economic development in both countries.”

On the same occasion, Partner of Living Lab Ventures, Bayu Seto added, “We are enthusiastic to bring Living Lab Ventures to Japan, a country renowned for its technological advancements and vibrant startup culture. This expansion aligns with our mission to connect and empower city-centric startups through strategic investment, business advisory and go-to-market partnership. We are proud to say that Japan has become the first country for LLV to expand internationally. This expansion also signifies LLV’s commitment to providing financial injections to incubate and accelerate globally minded potential digital entrepreneurs in Japan and reaching a broader investment network.”

Furthermore, as part of the expansion strategy, a dedicated LLV representative will be stationed in Tokyo to assist Japanese companies interested in expanding their business to Indonesia. This representative will provide valuable insights, facilitate partnerships, and offer support to Japanese entrepreneurs navigating the Indonesian market and vice versa.

The expansion to Japan marks an exciting chapter for Sinar Mas Land through LLV, solidifying their commitment to driving innovation and economic development in the region.The collaboration between LLV and JETRO sets the stage for a thriving partnership that will benefit startups and entrepreneurs on both sides of the Pacific.