In order to support startup companies that create innovative businesses, the government has compiled a draft plan to increase investment to 10 trillion yen over the next five years.

The draft plan was finalized at a meeting of the government's "Startup Development Subcommittee," which was attended by Prime Minister Kishida on March 24.

The plan calls for increasing investment in startups to 10 trillion yen over the next five years, more than 10 times the current 800 billion yen level, and for sending 1,000 young people overseas to gain experience in the startup industry.

In addition, the government will expand tax incentives for "stock options," the right to purchase company stock given by companies to their employees as compensation, and will establish a 200 billion yen fund for the purpose of providing incentives to companies. The 200 billion yen fund will be established to encourage companies to get their businesses off the ground.At the end of the meeting, Prime Minister Kishida said, "We will steadily implement the plan and make Japan the largest start-up hub in Asia.

The draft plan is expected to be finalized at the "Headquarters for the Realization of New Capitalism" scheduled for next week.

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Source: https://www3.nhk.or.jp/news/html/20221124/k10013902561000.html