Tokyo, 3 Other Regions Picked as Startup Hubs

Politics

Tokyo, July 14 (Jiji Press)--The Japanese government has designated four regions, such as one including Tokyo, as hubs where it will back up the launch and development of startups, science and technology minister Naokazu Takemoto said Tuesday.

“We hope to create development hubs going toe-to-toe with Silicon Valley,” he said at a press conference.

Of the four, the Tokyo region includes Tokyo and the city of Yokohama, the capital of neighboring Kanagawa Prefecture, and the Aichi region comprises the central prefecture of Aichi, its capital of Nagoya, the city of Hamamatsu in neighboring Shizuoka Prefecture and others. The Osaka region mainly consists of the city of Osaka and the nearby western cities of Kyoto and Kobe, and the Fukuoka region includes the southwestern city of Fukuoka.

The government will give budget priority to and implement deregulation in the four hubs to nurture new industries utilizing cutting-edge technologies, aiming to launch such businesses by the end of March 2021.

The government has set a goal of doubling the annual number of startup launches in Japan by fiscal 2024 from the fiscal 2018 level.

[Copyright The Jiji Press, Ltd.]

Jiji Press