To drive its economy, the Japanese government will invest JPY 1 trillion ($10.1 billion) in three key research areas in fiscal year 2014: health, agriculture and clean energy. As part of the new focus, the government has outlined several measures to support cell research. The government will contribute JPY 110 billion ($1.1 billion) for iPS research over the next ten years, as well as work to pass legislation to establish new research protocols and accelerate regulatory approval for cell-based products. In addition, the government will fund a $1.12 billion stem cell study, which marks the world’s first human clinical trial using stem cells derived from participants’ cells instead of embryonic cells. The government expects that the stem cell industry will contribute $380 billion in sales by 2050, and some Japanese stocks have risen in anticipation of stem cell industry growth. However, some critics are wary of depending on advancements in science to spur the country’s economic growth.

Source: Bloomberg