Japan, February 8, 2024 - Living Lab Ventures (LLV), a corporate venture capital firm of Sinar Mas Land, proudly announced its global market expansion into Japan today. This strategic move marks a significant milestone in LLV's commitment to advancing innovation and the growth of the startup ecosystem in Indonesia and Japan. This expansion was made possible with the support of the Japan External Trade Organization (JETRO). JETRO's commitment to facilitating business collaborations between Japan and international partners has been instrumental in realizing this venture. Previously, in 2023, LLV signed a Memorandum of Understanding (MoU) with JETRO, highlighting the strong foundation for continued cooperation between the two entities.
Living Lab Ventures Details
LLV has been involved in the smart city development project BSD City, developed by Sinar Mas Land. LLV is creating an ecosystem related to urban area development to fund promising global-minded startups in Indonesia. As it is known, BSD City is one of the largest township development projects in Indonesia, covering approximately 6,000 hectares, an area equivalent to a location within the Yamanote Line in Tokyo and home to about 400,000 residents in Japan. In its activities, LLV supports startups in its ecosystem through three main activities: Investment, Incubation & Integration, and Venture Building. LLV has invested in 27 startups, focusing on Smart Technologies, Digital Life, and Mobility.
Executive Vice President of JETRO, Kawada Mio, said, "JETRO is working to promote collaboration between Japanese companies and foreign startups through initiatives such as J-Bridge, which is our support for expanding Japanese startups overseas. They are trying to create a cycle between the Japanese startup ecosystem and other countries. I am pleased to hear that Living Lab Ventures has expanded its business to Japan, which will help support cross-border challenges Japanese startups and companies face."
Chief Transformation Officer of Sinar Mas Land, Mulyawan Gani, stated, "The expansion of Living Lab Ventures into Japan signifies our dedication to creating a global innovation network. At the corporate level, Sinar Mas Land has a long history of forming strong and positive business partnerships with Japanese companies. We are very pleased to see how this initiative is evolving and hope it can become a new pathway for driving economic development between the two countries."
Similarly, a Partner of Living Lab Ventures, Bayu Seto, added, "We are delighted to expand Living Lab Ventures' business into Japan, a country known for its technological advancements and dynamic startup culture. This expansion aligns with our mission to connect and empower city-centric startups through strategic investment, business advisory, and go-to-market partnerships. We are proud that Japan has become the first country for LLV to expand internationally."
Living Lab Ventures Market Expansion Strategy
As part of the expansion strategy, a dedicated LLV representative will be stationed in Tokyo to assist Japanese companies interested in expanding their businesses to Indonesia. This representative will provide valuable insights, facilitate partnerships, and support Japanese entrepreneurs navigating the Indonesian market and vice versa.
The expansion into Japan marks an exciting new chapter for LLV and Sinar Mas Land, strengthening both companies' commitment to driving innovation and economic development in the region. Indeed, the collaboration between LLV and JETRO will also pave the way for productive partnerships, benefiting startups and entrepreneurs on both sides of the Pacific Ocean.