TOKYO – Japan has launched a 1 trillion yen ($6.43 billion) fund for private space development and plans to subsidize up to 100% of research and development costs by startups and universities to encourage domestic technological innovation in the field.
“This fund is necessary to accelerate Japan's development and use of space to prevent the country from falling behind as international competition in space development intensifies,” Sanae Takaichi, minister for science and technology policy, told a press conference on Friday.
