Video Message by Prime Minister Kishida at the Japan Innovation Luncheon

[Provisional translation]

I am KISHIDA Fumio, Prime Minister of Japan. Welcome to the Japan Innovation Luncheon.
 
At the Japan Innovation Night held in Boston last June, I said, "Now is the time to invest in Japanese pharmaceutical startups". I expect that you who have gathered today for this event have already invested in these startups, and now I would like to say that now is the time to expand those investments. Of course, for those of you who have not yet invested, there is an even greater chance.
 
Over the past year, the number of Japanese pharmaceutical startups that are global competitors has increased substantially. Even here in the U.S., they continue to take on challenges.
 
For example, Shinobi Therapeutics, which is developing innovative cancer drugs using Kyoto University's iPS cell technology, has received investment from a U.S. venture capital firm to establish a presence in San Francisco.
Japanese pharmaceutical startups are now trying to connect with the U.S. and global ecosystems.
 
I visited the U.S. for a state visit in April and confirmed with President Biden that Japan and the U.S. will deepen cooperation on the development and protection of biotechnology.
 
Today's event is the first step in Japan-U.S. cooperation. I am aware that 13 Japanese companies are participating here. Expect to see these elite companies taking on global issues such as drugs for cerebral infarction, AI diagnostics, and so on. In addition, BIO JAPAN will be held in Yokohama in this fall. We hope that many of you will come to Japan and experience the breadth of innovations that Japanese startups have to offer.
 
As the world leaders in drug discovery innovation, "Now is the time to accelerate investment in Japanese pharmaceutical startups". A new scheme that grants incentives equivalent to double the value of your investments is now in full swing, with a budget of over 2 billion USD, and in fact it is already being utilized by U.S. investors. The Ministry of Economy, Trade and Industry will provide a detailed explanation of the scheme after I complete my message. We are looking forward to your decision to invest.
 
I sincerely hope you make the decision here and now to take that major step forward, and eagerly await your interest and your visit to Japan.