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Cutting-edge new technologies and business ideas sometimes look immature, unrealistic or unreasonable. A fledging business idea or technology needs support and understanding.
The Government of Japan (GOJ) has introduced a sandbox approach that seeks to help new ideas develop in a live market. This enables businesses to conduct a demonstration that is approved by Competent Ministers, which may appropriately lead to regulatory reforms.
The GOJ promotes trials and demonstrations of businesses under the "Regulatory Sandbox Framework" by advising and consulting them on their ideas and applications at a single point of contact (see "Contact" below).
Q1:Which industry does the Japanese Regulatory Sandbox cover? Is it limited to fintech projects?
The Japanese Regulatory Sandbox is open to any industry, including fintech, healthcare, and mobility. Whatever industry you are in, you are eligible for applying to it.
Q2:Is our company eligible for application and approval under the Japanese Regulatory Sandbox?
Yes. Japanese Regulatory Sandbox is open to anybody including Japanese and foreign companies as well as individuals.
Q3:How long would be the term of my demonstration/testing project?
The basic principle is that the term needs to be appropriate, taking into account what and how you test your project. 3 to 6 months would be approvable in most cases, while some projects which have been approved have a 1-year testing term.
Q4:Can I be subsidized if my project is approved under the Japanese Regulatory Sandbox?
The Regulatory Sandbox Framework does not have subsidy programs for approved projects.
Q5:Who can I contact, if I’m interested in the Japanese Regulatory Sandbox?
You can contact the Regulatory Sandbox Team , at the Secretariat of New Form of Capitalism Realization Headquarters of the Cabinet Secretariat . Prior consultation with the team is available for you and you can get advices and hands-on guidance when you plan your project. You can contact JETRO as well.
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