Hunting for unicorns: Japan startups see hope on horizon

Employees of Tokyo-based AI startup RevComm at work in Tokyo. — Charly Triballeau/AFP

TOKYO: Hampered by cautious investors and a rigid corporate culture, Japan has produced just a handful of major startups. But there are signs that could be changing, industry insiders say.

Despite being the world's third-largest economy, Japan is far behind the United States and China when it comes to producing "unicorns" – new companies valued at more than US$1bil (RM4.15bil) in private funding.