Thursday, October 17, 2013
Venture Fund To Invest In University Research
TOKYO (Nikkei)--The Innovation Network Corp. of Japan announced Wednesday that it will launch an investment fund with a venture capital company associated with the University of Tokyo.
The fund, a joint effort by the government-backed INCJ and University of Tokyo Edge Capital Co., will invest in promising university research with the aim of encouraging new start-ups. The INCJ will contribute up to 10 billion yen, while the rest of the 15-20 billion yen in capital is slated to come from private financial institutions.
Although the INCJ will provide most of the funding, Edge Capital will select investment targets.
(The Nikkei, Oct. 17 morning edition)