Japanese entrepreneurs should seek more opportunities outside their home country to unleash their potential, foreign investors and other market participants have advised.

“There's a lot of progress being made” in Japan’s startup scene over the past few years, said Jonathan Ortmans, who founded the Global Entrepreneurship Network, a Washington D.C.-based organization that provides support programs for entrepreneurs and startups, while he was in Tokyo for a recent startup event.

“But I do think that one will need to have more progress. And that's going to take, in particular, those startups to adapt more to an international culture of entrepreneurship.”