IoD and Doyukai Roundtable

Held under the theme ‘Deepening Japan–UK Innovation Collaboration and Creating a New Growth Model,’ the roundtable assembled entrepreneurs, investors, and corporate leaders to transition from dialogue to organised implementation.

Participants emphasised that, despite the strong political alignment between the United Kingdom and Japan, supported by enhanced strategic partnership frameworks, the innovation pipeline involving startups, small and medium-sized enterprises (SMEs), investors, and research ecosystems necessitates more systematic coordination.

Key Government Actions Identified

Business leaders outlined five priority areas for government action.

1. Establish a UK–Japan Innovation Bridge Framework

Governments were urged to collaboratively establish a structured bilateral innovation bridge.

· Support a smooth transition for startups in each market.

· Facilitate international participation in venture capital activities.

· Provide regulatory guidance support.

· Maintain sustained mentorship and foster ecosystem integration.

Leaders observed that current introductions frequently lack consistent follow-up, leading to mid-stage attrition.

2. Enable Cross-Border Risk Capital Access

Participants emphasised the limitations imposed by structural funding, particularly:

· UK Venture Capital Requirements for UK-Registered Entities

· Conservative risk appetite within certain sectors of Japan’s venture capital market.

· Overreliance on initial public offerings as exit strategies rather than engaging in strategic mergers and acquisitions.

Recommendations include:

· Tax-aligned incentives for international venture funds.

· Co-investment arrangements between UKRI/Innovate UK and their Japanese counterparts.

· Government-supported matching funds for the expansion of small and medium-sized enterprises.

3. Strengthen Talent Mobility and Visa Pathways

Both governments were encouraged to undertake the following actions:

· Expand the scope of innovation visas for startup founders and technical specialists.

· Facilitate short-term research and commercialization residencies.

· Promote collaborative accelerator and bootcamp initiatives.

Leaders stressed that scaling innovation depends on diverse, globally integrated teams.

4. Promote Scalable Exit Strategies

Participants advocate for a strategic transformation in cultural and policy frameworks to:

· Encourage the adoption of M&A for strategic growth.

· Support cross-border acquisition frameworks

· Provide advisory resources for small and medium-sized enterprises (SMEs) transitioning to a global scale.

A more adaptable exit ecosystem is deemed essential for unlocking global capital.

5. Expand Ecosystem-to-Ecosystem Collaboration

Leaders advocated for a broader and more comprehensive approach, rather than solely relying on company-to-company introductions.

· Cluster-level Memoranda of Understanding

· Partnerships at the Innovation Campus

· Joint research and commercialisation platforms

The United Kingdom’s Harwell Science and Innovation Campus was referenced as an exemplary model for ecosystem-driven scaling, particularly within the fields of quantum technology, space exploration, energy, and the life sciences.

Leadership Perspectives

Dr. Indranil Nath, Chair of the IoD Japan Business Group, emphasised the urgency of operationalising collaboration:

The UK and Japan are strategically aligned at the governmental level. It is now imperative to translate this alignment into actionable steps. Innovation does not simply proliferate through introductions; rather, it necessitates structured ecosystems, sustained commitment, and systematic collaboration.

He added:

Innovation is not equivalent to entrepreneurship. A groundbreaking technology represents merely the initial stage. Governments are required to facilitate the

creation of conditions conducive to commercialisation, access to capital, and global expansion.

John Browett, the Chair of the Board of Directors of the Institute of Directors, emphasised the need for a more coordinated venture ecosystem.

Capital is present in both the UK and Japan; however, it is imperative that we adopt a more systematic approach to connecting early-stage investors with cross-border opportunities. Our two nations share core values and complementary strengths. The potential is substantial if we establish the appropriate framework.

He further noted that practical mechanisms, not merely goodwill, are necessary to bridge the structural gaps in access to funding and the execution of projects.

On the Japanese side, Mr. Osamu Mogi, Co-Chairperson of the Committee on Europe–Japan Relations at Keizai Doyukai, emphasised the broader geopolitical context.

“We are living in an era of turbulence and economic insecurity. For Japan and the UK, which share a commitment to the rule-based international order and free trade, an innovation partnership is not optional — it is strategic. Trust between our societies is the foundation of sustainable collaboration.”

He emphasised that the bilateral relationship has progressed from mere cooperation to a process of co-creation.

“We must not allow today’s insights to remain as discussions. As business leaders, it is our responsibility to turn them into concrete actions.”

Mr. Yasuhito Hirota, Co-Chairperson of the Committee on Europe–Japan Relations, emphasised the complementary strengths of the two nations.

“Japan and the UK are partners who think alike. Both have strong, high-technology industries. Today’s dialogue should help us create new growth models that further strengthen our partnership.”

From Cooperation to Co-Creation

The roundtable emphasised several key sectors for strategic expansion and for collaboration.

· Quantum technologies

· Artificial intelligence

· Space and satellite systems

· Clean energy, including hydrogen and fusion

· Advanced manufacturing and materials

· Life sciences and biotechnology

Leaders also cited successful examples of Japanese SMEs scaling within UK ecosystems, underscoring the potential of a structured bilateral approach.

Nevertheless, participants cautioned that, in the absence of systematic policy support, numerous promising initiatives might experience delays or discontinuation between their inception and implementation.

Next Steps

The Institute of Directors and Keizai Doyukai have committed to:

· Engaging in ongoing consultations with the United Kingdom Department for Business and Trade, as well as relevant Japanese government ministries.

· Exploring the establishment of a structured UK–Japan Venture Alliance.

· Enhancing engagement in upcoming innovation events, including Harwell Japan Day.

The twelfth Roundtable concluded with a mutual commitment to enhance institutional collaboration and to reconvene in London later this year.

As Dr. Nath summarised:

Ecosystems are of great importance. The well-being of individuals is crucial. Leadership plays a vital role. If decisive action is taken, the UK and Japan have the potential to establish one of the most formidable innovation corridors globally.

The roundtable took place on 17th February 2026 online. All statements herein are personal views and do not represent any company, Keizai Doyukai, or the Institute of Directors.

Members Participated

Participants from Keizai Doyukai

Co-Chairpersons:

• Mr Yasuhito Hirota (Chairman and CEO, Representative Director, ASICS Corporation)
• Mr Osamu Mogi (Representative Director, Senior Executive Corporate Officer)

Vice Chairperson: Mr Masamichi Terabatake (Representative Director, President and CEO, Japan Tobacco Inc.)

Ms Yukiko Yoshimaru (Director, Member of the Board, Sekisui House, Ltd.)

Members

• Mr Seiji Ishii (Representative Director, Head of Japan, Greenwich Associates Japan K.K.)
• Mr Takayoshi Kawakami (Partner, Industrial Growth Platforms, Inc.)
• Ms Yuko Kawakami (Managing Partner, IBM Japan, Ltd.)
• Ms Mika Masuyama (President, Masuyama & Company LLC)
• Mr Toshiya Matsuki (Senior Adviser, Institute for International Socio-Economic Studies)
• Dr. Atsuyou Nagai (Director, Itoki Bestmates Co. Ltd)
• Mr Ichiro Nakagawa (Director, Pure Storage Japan K.K.)
• Mr Takanori Sazaki (Director and Deputy President, BofA Securities Japan Co., Ltd.)
• Mr Kimiaki Yamaguchi (Director, Saint-Care Holdings Corporation)

Participants from the Institute of Directors

Chairman of the Board, Institute of Directors: Mr John Browett (Chairman, Octopus Energy plc.)

Chair, Japan Business Group: Dr Indranil Nath, CcDir, FIoD (Director and Managing Partner, Gekkō Advisory Services Ltd)

Vice Chair, Japan Business Group: Ms Rie Hamaguchi (Director, Global Financial Portfolios)

Members

• Mr Antriksh Gautam (Director, myoCapital)
• Dr Masashi Matsunaga (CEO Biosphere UK Ltd., and Harwell Japan Day lead)
• Dr Shuichi Terashima (Managing Director, TMC Worldnetwork Ltd.)
• Mr Alex Queen (CEO, Queen & Co., Ltd. and Honyaku Cloud)
• Mr Liviu Morariu (Director, Congress Bookers Ltd)
• Mr William Beers (Managing Director, Beers Engineering Consultancy Ltd.)
• Mr Sorin Pamfil (Head of Commercial Category, Crown Commercial Services, HMG)
• Mr Nick Poole OBE (Chief Executive, UK Interactive Entertainment Ltd.)
• Ms Alison Louline, Cdir, FIoD (Director, Highvern Fund Administrators Guernsey Limited)
• Mr David Syrad (Chief Executive, AKI Limited)
• Mr Ichiro Tominaga (Representative Advisor in Japan, Henley & Partners)
• Ms Madeleine Olausson (Director, Lena O Consulting)
• Mr Andrew Main (Former Advisor, INDOS Financial Limited)
• Ms Ai Shimohama (Director, Altair Link Ltd)
• Ms Rosie Slater (Director and Managing Partner, Gekkō Advisory Services Ltd)