Halal Angels Network is among the first to penetrate the $5 trillion global Halal consumer market and has teamed up with EDGEof INNOVATION for the Japan Market to support the Japanese government, and organizations in Startups, Halal consumer market, Islamic finance to aspiring entrepreneurs. Halal Angels Network was launched to promote innovation, entrepreneurship, and start-ups, and inspire investors across the world to tap into a sector that will be worth $9.71 trillion by 2025 (Reuters, 2019).
EDGEof INNOVATION is one of the most active organisations headquartered in Shibuya city, the Silicon Valley of Japan, by mentoring, supporting startups, hosting events and inviting startups to establish their businesses in Japan.
The key focus areas Halal Fintech, Halal Foodtech, Halal Tourism, Ethical Finance, and Future Technologies. Japan can be the gateway for Halal Startups.
The Japanese startup scene is growing at a rapid phase in last few years and Japan’s economy ministry has launched a scheme for introducing midsize companies to foreign startups to boost their business. The Japan Innovation Bridge, or J-Bridge, initiative aims to accelerate digital transformation, or reforms using digital technology, at Japanese companies by taking advantage of the wave of digital transformation speeding up in many places in Asia. The scheme will mainly support six fields on which Prime Minister Yoshihide Suga’s administration places special emphasis, such as decarbonization and medicine.
They would host the Halal & Ethical Investment Summit post-COVID-19 pandemic in Japan.
This would be part of series of Halal & Ethical Investment Summit to be held at strategic global locations to promote Halal & Ethical Investment & startups.
According to researchers Muhammad Thamrin and Asra Virgianita in the research paper titled ‘Strategic Role of Japanese Government in Promoting Halal Market in Japan’ “The Japanese government is encouraged to support the halal market by promoting halal tourism and halal industry because of the interest of Muslim tourists from all over the world. Such as the provision of places of worship inside the airport, halal restaurant concept, and various other types of supporting facilities. Various policies that support the increasing tourist visit contributed to stimulate the halal market in the country. The role of government is considered very important in improving a country’s economy seen from the theory of Thomas Oatley in regard to state-centered approach.”
Taisuke Alex Odajima founder of EDGEof INNOVATION said “Through this partnership with Halal Angels Network, I want to provide new opportunities to the Japanese startups by supporting them to develop services and products adapted to the halal consumer market. I believe Japan should more interact with the Muslim world and for that, I feel it is also necessary to get rid of the wrong stereotypes about Islam. The goal is not only exploring business opportunities but build a real connection between the Japanese startup ecosystem and the Muslim communities all around the world.”
The Shibuya city of Tokyo has been on the forefront of promoting startups and Shibuya Startup Support (SSS) announced that Shibuya city started providing the 1-year startup visa for entrepreneurs planning to launch a business for the following fields : Health, Medical, Welfare, Environment/Energy, Food/Agriculture/Forestry/Fisheries, Information Technologies, Culture/Art, and Fashion Startup Welcome Service (SWS) will support the seamless support including startup visa application, the incorporation process and introduction to mentors in order to successfully launch a business in Shibuya.
JETRO is a government-related organization promoting in attracting inward FDI providing effective support for foreign companies entering the Japanese market. It is also supporting for Overseas Expansions of Startups. In line with this, Japan’s Ministry of Economy, Trade, and Industry (METI) began a J-Startup Program in 2018. J-Startup focuses on promising startups. JETRO provides hands-on support for activities such as participating in exhibitions linked to business ecosystems around the world as well as various pre-dispatch intensive training courses like “boot camps” and mentoring programs.
Indian American Dr. Tausif Malik, Founder of Halal Angels Network said, “With over 1.5 billion Muslims in the world, the Halal industry offers tremendous opportunities across the Middle East, North Africa and South Asia and South-East Asia. Based on the vision, experience, and expertise, we felt that EDGEof INNOVATION is the right partner for the Japanese market and the region. Our partnership is to support the Japanese government’s Startup initiatives and market opportunities to venture and tap the halal consumer market, both B2C and B2B.”
Dr Malik also said that Japan is one of the most developed economies with excellence in Finance, Logistics, Manufacturing, Information Technology and they would be open to working with government authorities, universities, businesses to promote Halal & Ethical startups in Japan and create awareness for exports.