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Date of Issue:1/August/2003

The Revive Japan DREAM GATE Project

Yuichi Takano
Director General & Senior Research Fellow
Venture Enterprise Supporting Department
Venture Enterprise Center
(VEC)


Supported by METI, VEC is implementing the Revive Japan DREAM GATE, a new project within the FY2002 supplementary budget which aims to help aspiring entrepreneurs realize their business plans and increase the number of business start-ups.

1. Venture Enterprise Center (VEC)
VEC was established in 1975 as a foundation under METI jurisdiction with the aim of supporting and fostering venture businesses and new businesses in order to create new business fields, and, as a result, contributing to the dynamic development of the Japanese economy and improved lifestyles.

2. Project background
Noting that more than 1,000 companies had applied for establishment based on the special regulations governing minimum capital requirements launched on 1 February 2003 under the Law for the Support of Small and Medium Enterprise Challenges, VEC and METI launched the Revive Japan DREAM GATE project in February 2003 to further promote this trend. Designed to produce large numbers of entrepreneurs, the project is also a means of accelerating realization of the Hiranuma Plan (which includes plans for doubling the number of start-ups and fostering 1,000 university-initiated ventures) announced in May 2001. Under the project, various programs are supplied in order to support business start-ups and independence. Here the target is not only strongly ambitious entrepreneurs; rather, to promote greater awareness of the project among a wider audience, newspapers and poster campaigns are being run featuring Bob Sapp, a popular martial artist, as the promotion character.

(The Law for the Support of Small and Medium Enterprise Challenges is the generic name for a series of laws promoting start-ups, the major feature of which is allowing companies to achieve the minimum capital requirement for company establishment (10 million yen for joint-stock companies, 3 million yen for limited-liability companies) within the first five years of business rather than fronting this capital at the point of establishment. Consequently, companies can be established on capital as limited as one yen. This allows businesses to get underway and gradually assemble the necessary capital.)

3. Project aims
(1) To hold promotion activities and events and educate university students in order to foster a culture which will produce numerous entrepreneur-inclined businesspeople interested in establishing independent businesses, as well as a climate of respect for those taking up the entrepreneur challenge.
(2) To expand potential entrepreneur greservesh (from the current 1.2 million to 1.6 million by FY2006), boost the number of new businesses, and raised the rate of successful business establishment (from the current 150,000 (13%) to 360,000 (23%) by FY2006.

4. Project outline
(1) Venture supportware project
Capital and idea-related support for venture companies on the verge of establishment. Provides subsidies and assessments for companies with new technology, service or business models and business potential in order to support these companiesf smooth growth.
Subsidies: Up to 10 million yen per company within the stipulated scope for subsidy use (total of 200 million yen planned).
Application deadline: 30 June 2003

(2) DREAM GATE mail magazine project
Mail magazine designed to be read within a minute launched as of 1 May 2003. Innovative format intended to provide the necessary knowhow for business start-ups and independence through the gradual accumulation of small amounts of information.
Examples of content: gEntrepreneurfs Messageh and gCourse for business start-ups and independenceh

(3) DREAM GATE support project
Various participation-based services. Incorporating private-sector management techniques to support potential start-ups on a customer-first basis in order to ensure higher-quality support. More specifically, expert counseling services (interviews or Internet-based), seminars and events, etc. (implemented from 1 July 2003).

For further information about the Revive Japan DREAM GATE,
please refer to http://www.dreamgate.gr.jp/ (Japanese only).


 
 
 

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