The government will support Japanese universities in commercializing their original technologies. The “new form of capitalism” advocated by Prime Minister Kishida Fumio focuses on fostering startups originating at universities. One of the ways the government plans to strengthen its support for them is through a plan by the Japan Patent Office to start subsidizing international patent applications filed by universities premised on commercialization in fiscal 2022. The government intends to take advantage of the promotion of new industries in creating a virtuous economic cycle.

The government aims to improve the corporate value of university-initiated startups through supporting Japanese universities in filing international patent applications. The move is driven by the present situation in which Japanese universities account for a smaller share of international patent applications than universities in other major countries. (Abridged)