VZCZCXRO3682
PP RUEHCHI RUEHFK RUEHHM RUEHKSO RUEHNAG RUEHPB
DE RUEHKO #2687 3240846
ZNR UUUUU ZZH
P 200846Z NOV 09
FM AMEMBASSY TOKYO
TO RUEHC/SECSTATE WASHDC PRIORITY 7702
INFO RUEHZU/ASIAN PACIFIC ECONOMIC COOPERATION
RUEHEG/AMEMBASSY CAIRO 0349
RUEHLO/AMEMBASSY LONDON 2506
RUEHFR/AMEMBASSY PARIS 6587
RUEHRO/AMEMBASSY ROME 2308
RUEHTV/AMEMBASSY TEL AVIV 0811
RUEHFK/AMCONSUL FUKUOKA 7528
RUEHNAG/AMCONSUL NAGOYA 4704
RUEHNH/AMCONSUL NAHA 9877
RUEHOK/AMCONSUL OSAKA KOBE 1339
RUEHKSO/AMCONSUL SAPPORO 8036

UNCLAS TOKYO 002687 
 
SIPDIS 
 
DEPARTMENT FOR EEB/CBA LHARITON, SKOLTAI AND EAP/J 
 
E.O. 12958: N/A 
TAGS: ECON PREL SOCI JA
SUBJECT: GLOBAL ENTREPRENEURSHIP WEEK IN JAPAN 
 
REF: STATE 112998 
 
¶1. Summary: Embassy Tokyo supported Global Entrepreneurship 
Week (GEW) in Japan, working with local organizers, and 
featuring a keynote program with Ambassador Roos on 
entrepreneurship.  Organizers coordinated 14 separate events 
around Japan under a GEW umbrella, and attracted over 3000 
participants.  Another goal behind these events is to produce 
an analytical report on entrepreneurship and venture capital 
in Japan to contribute to the Global Entrepreneurship 
Monitor.  End Summary. 
 
¶2. Post coordinated extensively with organizers in preparing 
and executing Global Entrepreneurship Week (GEW) programs. 
Of particular note was a keynote presentation by Ambassador 
Roos:  "A Conversation About Entrepreneurship."  The diverse 
audience of about 300 also saw Secretary Clinton's video 
message.  The Embassy co-sponsored the event, and embassy 
staff participated in programs and interacted with 
participants.  We anticipate media coverage for both the 
Ambassador's presentation and for the GEW. 
 
¶3. The Ambassador, in his remarks, stressed the importance of 
entrepreneurship and innovation to the United States: to 
economic growth and job creation, and to developing new 
technologies to solve pressing social problems.  He described 
real entrepreneurs as not driven primarily by money but by a 
desire to create and build.  He noted the importance of risk 
tolerance, the willingness to see failure as a chance to 
learn, and determination to try again. 
 
¶4. He also elaborated several important features of an 
entrepreneurial ecosystem.  An entrepreneurial ecosystem 
involves complex interaction of factors from availability of 
financing, to strong academic institutions and their 
interaction with business, to diversity and risk tolerance, 
to the availability of talent and human resources, to 
liquidity and market exits. 
 
¶5. The Ambassador related stories of Google, E-Bay, and 
Genentech, and commented one never knows where the next big 
idea will come from, or which will succeed.  Avoiding 
over-regulation or government interference in market 
decisions, and a policy of technology neutrality are 
therefore relevant principles.  Regulation, even if well 
intentioned, can add costs and reduce the number of new 
start-ups. 
 
¶6. Accepting that the majority of new ventures fail, healthy 
markets distribute the costs, allowing people to learn from 
set-backs and try again.  Financing is based much more on 
equity than debt, cash is scarce and salaries are typically 
low, but the rewards can be great for successful ventures. 
 
¶7. The Ambassador also related that his former firm, during 
his tenure, had become recognized as the most diverse law 
firm in the US.  While it may have been the right thing to 
do, it was also in the interest of the company.  Far from 
lowering standards, being able to draw from a larger pool 
actually increased competition and the quality of the firm's 
talent.  It was not difficult to adopt flexible policies to 
help attract talented women, and the best argument for such 
policies is to show examples where they have paid off. 
 
¶8. With an enthusiastic audience reaction, the Ambassador 
reiterated his belief in the importance of innovation and 
entrepreneurship, and interest in helping promote these 
ideas.  Post continues to develop contacts and will continue 
outreach and exchanges to promote innovation and 
entrepreneurship. 
ROOS