From Startup to Scale-up:
Mutual Growth and Realization of an Advancing Ecosystem
For this article, we interviewed the Startup Ecosystem Association’s President Ayumi Fujimoto, a leader who shares our vision for Japan’s entrepreneurial future. (This interview was conducted in January 2026.)
See Part 1 of the interview here.
◆Impact and Diversity: Over 500 Attendees Gather at the “Startup Ecosystem Summit”
Sugihara:
It’s true that while national and local governments make a big deal about startup support, there are legal complexities that make it difficult for local governments to invest directly in startup equity. However, providing support in the form of recruitment is a very practical workaround. I also find it impressive when financial institutions go beyond just providing capital to actually running alongside startups to assist with sales and business development.
Regarding your three courses of action, I’m particularly interested in the second one, eliminating information inequality. Could you share some specific success stories or milestones from your activities overall?
Fujimoto:
I would say the Startup Ecosystem Summit is our most significant achievement and a prime example of our impact. We have held it for four consecutive years now, and last year, we introduced our first “Global Roundtable”. While many international ecosystem stakeholders were visiting Japan, there were surprisingly few opportunities for them to gather in one room and collaborate, so we created that space for them.
Last year, the Summit drew between 500 and 600 participants. Players from every corner of the domestic market mingled together, and I believe that sheer diversity is a tangible manifestation of the ecosystem itself.
Sugihara:
Just gathering hundreds of people from so many different sectors in a single venue is itself quite a feat.
Fujimoto:
It really is. I feel like the scope of the event expands every year. We started with about 100 people, mostly just the supporters. From that point, we started to hear feedback like, “Actually, startups should participate too,” “We should exchange information with regional governments,” or “Every single government ministry should attend.” The sense of connectedness is growing, and the diversity increases every year.
Our philosophy is that rather than just repeating the same thing, the Summit should be a place where participants can actually experience the growth of the ecosystem. That’s why we aim to challenge ourselves with something different every year.
We’re grateful that those who attend can feel that the scale is truly growing and the diversity is deepening. While it’s almost like a kind of class reunion for the industry, our ultimate goal is for it to be a place where you can feel the evolution of the ecosystem and where startups can find every piece of new information they need.
One way we are currently expanding our activities is by utilizing the Tokyo Innovation Base (TIB) in Yurakucho, which is supported by the Tokyo Metropolitan Government, and collaborating with them on the operational side.

◆Overseas Collaboration: Where Supporters Connect on a Global Stage
Sugihara:
Since the Startup Ecosystem Association is a non-profit, your activities feel very pure and ambition-driven as opposed to being motivated by profit. I also get the impression that your team is incredibly high-caliber, with members coming from prestigious backgrounds like Google.
Regarding the previous Startup Ecosystem Summit you held last October, I saw on your website that your association was deeply involved in organizing it together with the Tokyo Metropolitan Government. Could you tell us more about the global perspective of that event and the reception it received?
Fujimoto:
Last year’s event was particularly successful in its global focus. While other events hosted by VCs or massive government initiatives like “SusHi Tech Tokyo” attract many international visitors, there are actually surprisingly few opportunities for startup supporters to have deep, substantive conversations with each other.
For our event, we invited supporters and people in charge of operating large-scale facilities or acceleration programs from different countries within Asia, the US, Europe, and other places. Hearing directly from them about the current trends among Singapore’s startup supporters or the transitions happening in France was incredibly meaningful.
Also, I like trying new things every year, so last year, we introduced the “Triangle Session” format: three speakers and one moderator. We picked specific themes such as legal affairs, accelerators, or entrepreneurship education, and limited the time per session to just 15 minutes, to keep the speakers focused on sharing what initiatives they were undertaking.
In previous years, we had larger panels with about ten speakers, but the content often became too broad. Participants told us they wanted to dive deeper into specific niches and hear how three different companies handle the same challenge.
When I first proposed a 15-minute limit, neither the speakers nor the Tokyo government officials could imagine achieving anything in such a short window, so they were skeptical. But it turned out to be a massive hit. The goal wasn’t to tell the whole story on stage, but to provide just enough essence to spark a direct conversation or a follow-up later. Creating that spark was the major development of last year’s Summit.
Sugihara:
That 15-minute format sounds like something that could be applied to many other types of conferences.
Fujimoto:
Absolutely. I’d love for others to adopt it. Over the past year, our association has been continuously conducting an “Ecosystem Survey”, and we’ve visited roughly 20 countries to study their local scenes. There’s no point in us keeping that knowledge to ourselves. Whether it’s a unique conference format, a workshop style, or a specific program we saw abroad, we want to share those ideas. Even if we don’t implement them ourselves, it’s important that someone else is able to do so.
Sugihara:
I imagine that it must be intimidating to reach out to a lot of very busy leaders for these events, but is that process usually smooth?
Fujimoto:
I think this is a testament to what we’ve built over the years. Most people seem to trust that “if the association is doing it, it’s going to be worthwhile”. Rather than saying “Hmm, we’ll think about it”, they usually say “Let’s do it!” almost immediately. I believe this is possible precisely because everyone, including our founding supporters, recognizes the necessity of this activity.
I also believe the fact that we operate as a non-profit is a major reason why people are so willing to accept our requests. We aren’t looking to turn this into a profitable business, but acting purely for the sake of the ecosystem. Our hope is that the association’s events serve as a catalyst for what each participant is working on to be shared with the wider world. If this were a request for cooperation coming from a specific private company for their own business interests, I don’t think things would go nearly as smoothly.

◆Global Trend: From Startup to Scale-up
Sugihara:
I’ve read the association’s reports as well, and I’d love to hear about the major global trends you notice during your travels. Among those, you pointed out a transition from startup support to scale-up support. Is this a shift that is happening right now?
Fujimoto:
It sure is. Over the last two years, the term ‘scale-up’ has exploded globally. Previously, it was lumped into the general category of startups, but now startups and scale-ups are being treated as two distinct nouns. Currently, many countries are discussing startup policies and scale-up policies separately, as well.
Sugihara:
Why has it become necessary to differentiate the two?
Fujimoto:
Take France, for example. They began enacting startup policies about ten years ago and have since seen the emergence of rapidly growing companies called ‘unicorns’. From a government perspective, if you are investing tax dollars to maximize employment and tax revenue, you eventually need to help those companies grow to a certain size.
While startup initiatives are about broadening the supporter base, scale-up initiatives are about building higher, aiming for the scale of a company like Google. Because the support required for these two phases is entirely different, they are now being discussed as separate entities.
Sugihara:
Is this a different nuance from what we typically call “growth” companies in Japan?
Fujimoto:
The term ‘growth companies’ is used in Japan, but the difference between that and the global definition of scale-up lies in the trajectory of the growth. While growth company often implies linear progression, scale-up refers to non-linear, J-curved growth. Rather than just growing slowly over a long period, it’s the argument that we need to create scale-ups that grow at explosive speeds, right now.
Over the past year, to the degree that the terms are different, Japan has begun to realize that building higher carries the same degree of importance. While it hasn’t been fully codified into policy yet, Japan is poised to change by following the examples of leading nations.
Actually, in one sense, the Tokyo Metropolitan Government was ahead of the curve here. When they announced their strategy last October, they were already beginning to distinguish between the terms startup and scale-up.
◆How a New Company Was Established: Japan’s Globally Competitive Sense of Speed
Sugihara:
That’s great! To focus specifically on scale-ups, you recently co-founded a new company called FoundersNation with Mr. Nagura. How is this new company segregated from the Startup Ecosystem Association?
Fujimoto:
The Startup Ecosystem Association does not provide individual support to specific industries or companies. After all, we’re structured to develop the ecosystem as a whole, and focus on the big picture.
However, as we were continuing our work, we were receiving more and more requests for help from individual startups or specific industries. From the association’s standpoint, I had to decline these requests because we must remain neutral, but I constantly felt the dilemma about being unable to act on these specific needs.
This sense of urgency became even stronger as the scale-up trend took hold. Laying the soil where an ecosystem can grow takes a very long time. While we can eventually build an ecosystem that produces scale-ups organically, I felt that if we simply waited for that to happen, Japan would lose its competitive edge on the world stage.
Right now, the number of players we have in this specific niche is overwhelmingly small, and we don’t have the luxury of time. I decided that we needed a separate, for-profit entity specifically dedicated to supporting scale-ups. That is why we established a new company.
~To be concluded in Part 3~
Interview conducted by D-POPS GROUP’s advisor Genta Sugihara.
Startup Ecosystem Association
President: Ayumi Fujimoto
Address: 15F Toranomon Hills Business Tower, 1-17-1 Toranomon, Minato, Tokyo
Established: March 30, 2022
Website: https://startupecosystem.org/home-en
In the third and final part of the interview, we discuss:
・The Joy of Creating Something from Zero Learned at Google
・Resolving the Gender Gap
・Japan’s Future Strength: Turning Technology into Business and Communicating It
・Defining a Startup Ecosystem
・And other topics
Be sure to check it out here:
https://d-pops-group.co.jp/en/column/startupecosystem-part3/
