Tokyo, July 2 (Jiji Press)–A study group attached to the Japanese public management ministry on Wednesday produced a report urging the government to set up a system to support information technologyventure firms with public- and private-sector funds.
The Ministry of Public Management, Home Affairs, Posts and Telecommunications is expected to reflect the proposals in its budget request for fiscal 2004.
The report says that the public and private sectors should jointly provide capital for IT venture firms and that debts equivalent to around half of the capital provided by private firms should be guaranteed in case of bankruptcy.
The report also proposed that the government expand procurement of goods and services from venture companies and provide tax breaks on venture capital.
