For almost three decades since the collapse of its 1980s economic “bubble”, Japan has fretted — at both a public- and private-sector level — about its declining powers of innovation. The urgency of the warnings, though, did not often appear to translate into direct action.
In the nearly 30 years since the economic “bubble” burst in the 1980s, Japan has struggled with its declining capacity to innovate – both in the public and private sectors. However, the urgency of such warnings does not appear to often translate into immediate action.
But that may be changing. This spring, Japan formally launched its first national endowment fund for universities — a ¥10tn ($82bn) behemoth that is the largest of its type in the world and, according to those now charged with running it, a clear recognition that the country urgently needs to take innovative competitiveness more seriously.
But that may be changing. This spring, Japan officially launched its first national university endowment fund — a 10 trillion yen ($82 billion) behemoth, the largest of its kind in the world, according to the people who now run it. Said that this shows that Japan clearly recognizes that it urgently needs to take innovation competitiveness more seriously.