The Government has increased the target for advanced start-up support in 2024 by 30% compared to 2023, to approximately 140 billion yen. This will strengthen support for fields such as space and nuclear fusion, and expand the cross-ministerial support system for technology development.
This strengthening of support will also include a revision of the spending policy for the Small and Medium Business Innovation Scheme (Japanese version of the SBIR), with a target of 106.6 billion yen for FY2023, which is expected to be significantly higher in FY2024.
In order to promote the practical application of technology, the criteria for companies eligible for cross-agency grant support will also be revised. Specifically, a new expert panel will be established by the end of the year to select companies that aim to put advanced technologies to practical use through demonstration projects, and a system will be set up to evaluate the support provided by each ministry and agency.
The Government is focusing on fostering start-ups and has formulated a five-year plan for start-up development in 2022. The plan includes a radical expansion of the SBIR system and support for social problem-solving companies that take time to commercialize.
