The last few decades have seen governments in East Asia provide increasing support for startups—new, high-growth, technologically oriented firms. Initiatives like the J-Startup programme strive to create cohorts of unicorns whilst also reinforcing Japan’s comparative advantages, with industrial leaders serving as coaches and judges for the programme. As such, these initiatives do not necessarily benefit the growth of startups as challengers to large, established firms. Though imbued in the language of disruption, startup capitalism—an economic and political system in which startups contribute to employment, innovation, and growth—can take multiple forms. In the case of Japan, policies augur for startups as both disruptors to global industry and resources for national lead firms.