In March 2014, Fukuoka was selected as one of the Japanese government’s National Strategic Special Zones. The purpose of the zones is to foster competitive industries in certain regions by promoting bold deregulation. Fukuoka was one of only six regions selected from among 197 applicants—evidence of the national governments’ high hopes for the region.
The official title of Fukuoka’s zone is the National Strategic Special Zone for Global Startups and Job Creation. The aim of this zone is to encourage people to start new businesses and give companies incentives to offer new services, which ultimately creates jobs and opens up new markets. The City will relax various regulations to make it easier to start new companies and business ventures. Even before Fukuoka received special zone status, it offered support to entrepreneurs with an initiative called Start Up City Fukuoka. And now those efforts will be strengthened.
Specific support measures include the reduction of company registration taxes, enhanced funding programs for startups and business expansion, and a business plan contest for entrepreneurs from around the globe. Last October, the City opened the Startup Cafe to provide one-stop support for business startup procedures. The Cafe also serves as a hub where prospective entrepreneurs and their supporters can interact freely.
Fukuoka is one of the few cities in Japan whose population continues to grow despite the dwindling population at the national level. It boasts a high percentage of young people, thanks in part to the numerous universities that attract students from throughout Japan and around the world. Office rents in Fukuoka are comparatively cheap and the compact city is easy to navigate, making it a great place for startups. Now, with the Strategic Special Zone initiatives, things will only get better for entrepreneurs.
