More Firms Backing Women Entrepreneurs In Japan

In a move to promote a more diversified society, an increasing number of Japanese firms have started to support female entrepreneurs, hoping to revitalize the economy with services and products designed from women's perspectives, Kyodo News reported.

Photo Insert: Mizuki Nakajima, chief executive officer of coly Inc. (front), and her sister Anna, co-founder of the company

Some companies are targeting investments at ventures established by women in a country where female entrepreneurs are said to face more challenges than elsewhere in starting businesses. One such example is coly Inc., an online gaming company for female users.

The company, where women account for more than 70 percent of employees, has launched a project to invest up to tens of million yen each in newly established companies with a female leader.

The Tokyo-based game developer was established in 2014 by twin sisters soon after graduating college, making a debut on the Tokyo Stock Exchange's Mothers market for up-and-coming companies in February this year.

In the project, coly plans to assist some 10 companies, including giving advice about management, introducing staff, and providing working spaces in addition to making investments.

"Female entrepreneurs face hurdles as there are few female seniors whom they can consult about starting and operating businesses," said the company's chief executive officer, Mizuki Nakajima.

Meanwhile, major venture capital firm ANRI, established in 2012 in Tokyo, announced in November last year that it would raise the proportion of investments that it directs to companies set up by women to over 20 percent in one of its operating funds.

Also coming under the spotlight as a supporter of female entrepreneurs was MPower Partners Fund, a venture capital fund founded by three women in May this year. The founders include Kathy Matsui, former vice chair of Goldman Sachs Japan who has been advocating "womanomics," or the idea that women's economic participation contributes to economic growth as a whole.

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