Survey on Actual and Potential Entrepreneurs and Angel Investors in Japan

Author Name NAKAMURA Hiroki (Chuo University) / HONJO Yuji (Faculty Fellow, RIETI)
Creation Date/NO. March 2019 19-J-015
Research Project Creation and Development of High-tech Startups
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Entrepreneurship is essential to social and economic growth. However, when compared globally, entrepreneurship in Japan remains relatively low. To address these issues, there is an ever-growing number of national and local initiatives in industry, government and academia that are meant to promote entrepreneurship and angel investment. However, it is not yet certain which initiatives have contributed to increasing entrepreneurial activity and/or angel investment in Japan. Thus, the purpose of this study was to provide a clearer picture of Japan's actual entrepreneurs and angel investors and the potential for others to become entrepreneurs and/or angel investors. Specifically, based on the results of a survey conducted by the Research Institute of Economy, Trade, and Industry, 10,001 Japanese resident respondents were categorized into the following entrepreneurial types: "actual entrepreneurs," "potential serial entrepreneurs," "former entrepreneurs," "potential entrepreneurs," or as having "general entrepreneurial interests" or "no entrepreneurial interests." They were also categorized into the following angel investor category types: "actual angel investors," "potential angel investors," "ordinary investors," or as being "interested in angel investing," "generally interested in investing," or "not interested in investing." The numbers and percentages of the total sample occupied by each category, the category characteristics, and the measures they considered necessary to promote entrepreneurship were then described.