Tokyo: The Perfect Harmony of East and West

One thing that often strikes me when I visit Asia is the blend of Eastern and Western cultures — the ability to maintain cultural heritage while embracing influences from other parts of the world. And none displays the perfect harmony better than Tokyo, one of the top three financial markets in Asia, and a cosmopolitan city with more than 14 million people, the most populous metropolitan area in the world.

While the onset of the pandemic has prevented us from traveling to Tokyo this year, I remember the Land of the Rising Sun with much fondness from my last visit: the breathtaking view from the Tokyo Metropolitan Government Building observation deck; the vast amount of natural parkland in the skyscraper-filled metropolis, including the Imperial Palace East Garden; the striking sunset against Mt. Fuji backdrop; and the Kaminarimon and the Sensoji — one of Tokyo's most colorful and popular temples, and its oldest.

Gateway to the Number 1 GDP city in the world 

With cities continuing to fuel modern economies around the world, factors such as GDP growth, working-age population, and public policies shape the trajectory of tech development and innovation. 

As we have written in our upcoming book, Beyond Good, Japan will become the world’s first ultra-aged nation in the world within this decade, with 28% of its population aged 65 and older. While people are living longer, healthier lives, the country faces a shrinking population.

But with challenges come opportunities. It should come as no surprise, therefore, that there is intense interest in the development of Artificial Intelligence (AI), Internet of things (IoT) and robotics, which can be leveraged to promote automation in transportation and streamline manufacturing operations, in order to reduce the impact of labor shortages. Similarly, such emerging technologies can also be incorporated into caregiving solutions, filling the gap for the nursing workforce in elder care. While machines cannot replace humans, they can help ease the burden of nursing home staff, and increase autonomy and safety for those living independently at home. 

One such company is Tell Us You Care (tellus), a US-based healthtech company founded in 2017. Its radar-based non-wearable device collects information on the user’s indoor activities and vitals, detects potential health problems, and generates a wealth of actionable health data, without intruding on user privacy. With a growing aging population and the need for social distancing due to COVID-19, monitoring solutions such as those from tellus are vital for the well-being of older adults, while giving caregivers a much needed peace of mind.   

But expanding into a foreign market and navigating a different business environment are not easy tasks. 

Recognizing the needs and opportunities, the Tokyo Metropolitan Government (TMG) has established an Invest Tokyo program, which sponsors a variety of services for foreign companies and entrepreneurs that look to connect with Japanese market leaders and expand to Tokyo. In the case of tellus, those relationships and market insights have proven to be essential as it launched its services in care facilities in Japan in 2020. 

As an Invest Tokyo Ambassador for 2021, I look forward to acting as a bridge between Tokyo and the U.S., and promoting innovation in the Eastern City. Effectively addressing the critical social challenges and opportunities in the longevity economy will require cross-border collaboration and fusion of ideas. And Tokyo’s actions and successes can provide a blueprint for the rest of the world. 

For more information on the Invest Tokyo program, watch the “Startup's Guide to Tokyo” webinar here.