We all know the rapid progress of Japan. We all use one or the other products innovated by Japanese firms. The rate of innovation did not happen overnight. Much of it happened because of government push, cheap loans, and a bucket load of subsidies.
Above all, the factors that worked well for Japanese entrepreneurship have also to do with nationalism, the proud feeling about the country, and its innovation.
The entrepreneurs who built the institutions built it to outgrow them. They wanted everyone to be wealthy, rich. The sole purpose was to set up large organizations and take companies public.
Even now, it is the remanence of those CVC who are fostering innovation in Japan with their wealth and IP. Not only that, many generational wealth has been created.
Why can we not do the same elsewhere?