Tokyo Startup Subsidy: What is it and how to apply?
The Startup Subsidy offered by the Tokyo Metropolitan Government is to support new and small businesses less than five years old. This subsidy is highly competitive but applying can be worthwhile if you're an (aspiring) entrepreneur tackling social challenges or have a very good business model.
Leverage the subsidy by understanding the pros and cons
Although this year's Tokyo Startup Subsidy (創業助成金, or Sōgyō Joseikin) schedule has yet to be announced, last year's deadline was in early April. If the schedule follows the usual pattern, it will be announced around February. However, those considering applying should start preparing immediately. One of the application requirements is to receive consulting services provided by the Tokyo Metropolitan Government, which takes approximately three months to complete.
While subsidies offer significant financial support for startups and small businesses, it's important to consider both the advantages and disadvantages before applying. The application process, managing the funds, and fulfilling reporting requirements can be quite time-consuming. Therefore, after providing an overview of the subsidy, I'd also like to discuss the pros and cons of applying for and using it.
