Japan to Up Annual Investments in Startups to 10 T. Yen

Politics

Tokyo, Nov. 24 (Jiji Press)--The Japanese government Thursday disclosed a target of boosting annual investments in startups in Japan to 10 trillion yen in fiscal 2027 from the current 800 billion yen.

The target is included in a draft five-year plan to nurture startups presented at a meeting of a subgroup of the government's Council of New Form of Capitalism Realization.

To achieve the target, the government will provide tax incentives and support fund provisions.

"We'll make Japan Asia's biggest startup hub" by implementing the plan, Prime Minister Fumio Kishida told the meeting.

According to the draft, Japan will aim to increase the numbers of startups and so-called unicorns with a valuation of at least 1 billion dollars by over 10-fold from the current levels to 100,000 and 100, respectively.

[Copyright The Jiji Press, Ltd.]

Jiji Press