Hamamatsu City  in Shizuoka Prefecture has announced it will implement a "Fund Support Program" in which the city will grant an amount equal to the amount of investment by venture capitalists to startup companies, to a maximum of 40 million yen. This is the first time a local government has provided such a large sum of money to individual companies.

The funds will come from the national government initiative, which announced a "5-year plan for startup development" in 2022, focused on building the Japanese startup ecosystem.

Hamamatsu City has been a pioneer in startup development projects in Japan, launching the "Hamamatsu Valley Initiative" in 2016.

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Source : https://www.nikkei.com/article/DGXZQOCC1313B0T10C23A8000000/

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