Endowed Chair in Startup M&A

Installation period

April 1, 2024 - March 31, 2027

Donor

Strike Co., Ltd

Strike Co., Ltd

Overview

The Japanese startup ecosystem is at a tipping point. The number of startup investments by venture capital in Japan has been increasing. The Japanese government has set a goal of 10 trillion yen in annual startup investment and a "Startup Development Five-Year Plan" to make Japan the largest startup hub in Asia by 2027. However, most exits rely on IPOs, with few acquisitions, especially by large established companies. This situation contrasts with that in the U.S., a leading startup economy, where acquisitions are the primary exit strategy, fostering open innovation and economic growth through synergistic effects between large companies and startups. These facts indicate that the exit market for startup in Japan is still on developing.
In Japan, promoting startup acquisitions will foster open innovation in large companies, and diversifying exit strategies will increase the attractiveness of startup investments. Therefore, expanding startup M&As is essential for building a sustainable startup ecosystem in Japan.
The purposes of this endowed course are twofold. First, this course will research exit strategies, particularly involving acquisitions. Specifically, we will analyze startup investments in the U.S., where a secondary market for startup financing has developed, and examine investments and exits by Japanese VCs and corporate venture capitalists (CVCs). Second, this course will educate both investors and management teams of startups by offering a lecture on "Startup M&As" at the Graduate School of Management, Kyoto University. This course aims to become the central hub for research and education on startup M&As in Japan by disseminating research findings to both the academic and industrial communities.