Tokyo, Japan, May 9th, 2023, Chainwire
The STAR project is a new initiative to help Japanese SMEs gain international recognition and prestige. The project seeks to uncover the valuable products, technologies, and know-how of small-to-medium-sized businesses.
With an advanced ecosystem, the project opens new opportunities for mutual benefit between Japan and its partners abroad.
A Project with a Clear Goal
The STAR Project has a clear goal: to help Japanese SMEs effectively communicate their products and technologies. Through this project, SMEs can gain access to funds that they can use to reinvest in their business.
Foreign companies can also take advantage of the program. Specifically, foreign companies may purchase products, technology, and know-how from Japanese SMEs and partner up with them. Ultimately, the project aims to revive the economy of Japan and the world, creating a sustainable future.
This initiative helps Japanese SMEs market their valued products and technology to overseas enterprises. A win-win situation is possible when both parties benefit from exchanging goods and services successfully.
Where Does This Initiative Come From?
This initiative originated from a desire to maximize the potential of Japan’s technological capabilities. Despite the economy’s potential, Japan still falls behind other countries in the overall score of the Global Innovation Index 2021.
This suggests that there are issues beyond technological capability that the economy needs to address. One such issue appears to be public relations activities. Japanese people tend to glorify modesty, with many mistaking this attitude for weak presentation skills.
STAR improves firms’ abilities to close the gap between Japan’s technological strength and worldwide innovation index score. With strong technical capabilities and enhanced public relations activities, Japanese SMEs and foreign-affiliated companies can impact the global market more.
How STAR Intends to Target Its Market
STAR seeks to target both Japanese SMEs and foreign companies. STAR’s platform will aggregate SMEs’ goods, technology, and know-how to attract overseas enterprises.
It will provide various types of support to foreign companies to gain a foothold in Japan and develop their products. In addition, STAR will accept “StartupersCoin,” a token to be used by foreign companies for payment of platform services.
SMEs will receive revenue from revaluing their products, technology, and know-how to reinvest in their firm, particularly abroad. This strategy intends to benefit both Japanese SMEs and foreign companies. Ultimately, STAR seeks to revitalize the economy of not only Japan but the entire world and create a sustainable world.
STAR’s AUCTION is a platform designed to facilitate transactions between foreign companies and Japanese SMEs. All foreign companies registering on AUCTION are subject to screening to ensure their trustworthiness. After passing the screening process, the company can participate in an auction-style bidding process for Privileges, as illustrated below.
During the auction, each participant will need to disclose various business details. In case a company wins the Privilege, it will be able to trade products containing confidential information.
STAR is a platform that connects Japanese and foreign companies to facilitate mutual development. It aims to increase the number of companies that foster world peace and sustainability through its principles, starting from Japan.
Japanese businesses have traditionally grown on the concept of “Wa,” or harmony, with employees forming strong ties within the companies. STAR intends to leverage this fertile business setting and act as a growth facilitator.
The team is preparing for a listing event on May 10th on Bitmart. In this rapidly growing context, the team hopes to create an environment of mutual understanding and support between companies worldwide.
Anyone wishing to learn more about STAR can find more information on its website and the team’s Twitter page.