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State · Asia

Hyogo Prefecture

State · Japan · Pop. 5.4M

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Featured in #69World regions by EV
$10.4B+100%
Combined startup EV
$24.7M
VC invested (last 12mo)
94
Tracked startups
🦄 Unicorns
0
0 live · +0 new in 2025 (incl. 0 new decacorns)
💎 Decacorns
0
—
🐎 Thoroughbreds
0
Top 1% growth · $500M+

Adjacent regions by EV

#66South Carolina #67Wallonia #68North Dakota #69Hyogo Prefecture #70Rhineland-Palatinate #71New Mexico #72New Hampshire

Startup funnel

Hyogo Prefecture's power-law funnel

From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.

Pre-Seed
23
Seed
18
Series A
10
Series B
10
Series C
1

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

Academia

Hyogo Prefecture's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Hyogo Prefecture.

University-linked startup formation
9
University spinouts
36
Total alumni-founded companies
23
Of which startups (<$15M raised)
12
Breakouts ($15M-100M)
1
Scaleups ($100M+)

Vs. similarly-sized ecosystems

How Hyogo Prefecture stacks up

Peers chosen from the same country (Japan), sized closest to Hyogo Prefecture by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.

Combined enterprise value
Wisconsin
$35.6B
Alabama
$31.4B
Missouri
$30.2B
Indiana
$29.2B
Nordrhein-Westfalen
$27.7B
Alberta
$24.8B
Baden-Württemberg
$24.2B
Nevada
$23.8B
Hyogo Prefecture
$10.4B
EV growth (5-yr ×) vs current EV
peer median 4.8× 1.6× 16.9× 32.2× $5.2B $480B $44.1T EV growth (5yr ×) Combined enterprise value (log) World North America California Asia Western United States (Pacific, excl. Bay Area) EMEA Europe Northeastern United States Washington (State) Texas European Union New York State Southeastern United States Massachusetts Florida Midwestern United States Nordics South America Ontario Oceania Western United States (Mountain) Illinois Pennsylvania New Jersey New South Wales Hyogo Prefecture

Premium analytics

What we don't show on this page (yet)

Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Hyogo Prefecture dataset — or see a sample on the Dealroom app.

Sector breakdown
Where Hyogo Prefecture's unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
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Capital autonomy
Hyogo Prefecture's domestic vs foreign capital mix
% domestic VC by stage
Cross-border lead investors
Sovereign-fund participation
Foreign-LP exposure
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Recent momentum
Hyogo Prefecture's VC investment trajectory by stage
2024 vs 2025 by stage
Round-size trends
Stage-conversion deltas
Quarterly velocity
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Founder origins
Where Hyogo Prefecture's startup founders come from
By country of origin
Per capita
Top universities
Top alumni-factory companies
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AI talent
Top employers of AI talent in Hyogo Prefecture
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
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Deal flow
Live deal flow & funding rounds in Hyogo Prefecture
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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