On Friday 5 July 2024, the Japanese government started to accept applications for support to be provided by the "Space Strategic Fund". This is an important step for the development of the space industry in Japan which has seen growing traction in recent years; particularly as launch demand has significantly increased and Japan aims to set itself as a global leader in the space-business market.
The Space Strategic Fund is a JPY1 trillion (US$6.2 billion) fund established by the Japanese government to help develop space related technological innovation and international competitiveness by Japanese companies and universities. It is targeting 22 different themes in the 3 areas designated by the government (i.e. areas of (i) space transportation, (ii) satellites and (iii) space exploration). The government recently announced that it started on 5 July 2024 the selection processes for 5 themes including those connected to satellite constellation related businesses and services (with the selection processes for the other themes to follow).
It is expected that the JPY1 trillion (US$6.2 billion) fund will be subsidised to the selected Japanese companies/universities over a period of maximum 10 years to achieve the 3 goals of Space Strategic Fund – "market development, solutions for social problems and development of frontiers".
This Space Strategic Fund (including its selection process) will be managed by Japan Aerospace Exploration Agency (JAXA).
Our team is reviewing the further details regarding the support available under this Space Strategic Fund and can at any time assist you in exploring how this new support scheme could support your space business development. As new developments are released, we will look to update here.
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