The Japanese government plans to create a ¥270 billion ($2.7 billion) fund for research. Up to 30 research teams would receive ¥9 billion in funding over a three-to-five year period. Unlike other research grants, funds left over could be used during the following fiscal year and researchers will be given greater freedom in how they use the funds. Independent administrators would be in charge of the paperwork, allowing researchers to concentrate on their projects. Selection of a panel to chose the research topic and teams will begin after the supplementary 2009 budget is passed by the Diet, Japan’s legislative body. The Japan Science and Technology Agency’s ¥1.5 billion, five-year grants for Exploratory Research for Advanced Technology are currently the largest public research grants available to Japanese scientists.

Source: The Daily Yomiuri Online