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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 1 an agreement on the “Platform for unified support for startups (Plus)”, under which government institutions are to cooperate in supporting startups.
The Plus was originally signed on July 16, 2020, by nine national development and research agencies and incorporated administrative agencies*1 for the purpose of contributing toward building a Japanese startup ecosystem and resolving economic and social issues arising in Japan and overseas. The parties to the original Plus have undertaken numerous activities, including holding joint events to foster the cooperation for supporting startups and to disseminate information in an effective manner, establishing a point of contact to offer one-stop services to startups, disseminating the information the agencies were offering to startups, and introducing startups to the right agencies according to their inquiries. On November 1, 2022, with the addition of seven institutions*2, including government financial institutions such as JBIC, to this agreement, the Plus is equipped with a wider range of capacities for supporting startups.
In its Fourth Medium-term Business Plan, released in June 2021, JBIC aims to support M&A and technology acquisition by Japanese companies toward digital transformation, etc. and to provide support to strengthen the international competitiveness of Japanese companies during the period of digital transformation by financing efforts for the acquisition of advanced technologies and knowhow from overseas, including digital technology. The signing of the Plus is in line with the Medium-term Business Plan.
As Japan’s policy-based financial institution, JBIC will continue to proactively support Japanese industries, including startups, in maintaining and strengthening their international competitiveness by utilizing various financing tools, including equity participation and investments.
The New Energy and Industrial Technology Development Organization, the Japan Agency for Medical Research and Development, the Japan International Cooperation Agency, the Japan Science and Technology Agency, the National Agriculture and Food Research Organization, the Japan External Trade Organization, the Information-technology Promotion Agency, Japan, the National Institute of Advanced Industrial Science and Technology, and the Organization for Small & Medium Enterprises and Regional Innovation, Japan
JBIC, the National Center for Industrial Property Information and Training, Nippon Export and Investment Insurance, Japan Finance Corporation, the Development Bank of Japan Inc., the Regional Economy Vitalization Corporation of Japan, and the Japan Investment Corporation