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TOKYO (Jiji Press) — The Japanese government adopted legislation on Friday to recognize and financially support domestic universities that are expected to produce world-leading research results.
Accredited universities will be given several tens of billions of yen in aid per school out of a planned 10-trillion-yen-fund. The government plans to select a few universities that will receive the aid starting in fiscal 2024.
Under a government plan, universities eligible for the aid will be required to achieve 3 pct revenue growth a year and set up a council, with a majority of members from outside, to make important decisions.
The Japan Science and Technology Agency plans to launch operations at the university fund by the end of March, aiming to achieve ¥300 billion in annual investment returns within the next five years.
