Economic reforms in Japan have put science and technology at center stage. Under Prime Minister Shinzo Abe, who was elected last year, the country has embarked on a new economic policy termed “abenomics” that is designed to spur growth via government stimulus, monetary infusion through new central banking policies and structural changes. The plan aims to grow nominal GDP by an average of 3% and real GDP by an average of 2% over the next decade.

Presenting the growth strategy in June, Prime Minister Abe outlined three action plans: Industrial Revitalization, Creation of a Strategic Market and Global Outreach. Each ambitious plan covers a variety of topics and emphasizes reform, the private sector and human resources.

Science and technology is integral to the plans, which seek to revitalize the country’s private and public innovation efforts. The Abe administration’s fiscal 2014 (April 1, 2014–March 31, 2015) (FY14) budget requests were recently submitted, indicating the financial resources that may be available to fund R&D reform and new science initiatives.

Among the goals of the Industry Revitalization Plan is university reform, and the promotion of science, technology and innovation. To promote science and technology, the administration aims to improve the ranking of 10 or more universities within 10 years to be among the top 100 universities worldwide. The Ministry of Education, Culture, Sports, Science and Technology’s (MEXT) FY14 budget request includes ¥10 billion ($101 million = ¥98.82 = $1) to assist 10 universities in this goal, according to the Nissin Global Japan Digest. According to the NSF’s office in Tokyo, MEXT’s total FY14 science and technology budget request is ¥1,184.1 billion ($12.0 billion), representing a 19.9% increase.

Also part of the Industry Revitalization Plan are the creation of the Strategic Innovation Promotion Plan (SIP) to coordinate R&D efforts among ministries and between the public and private sectors. The SIP would be administered by the Council for Science & Technology Policy (CSTP), which has been given more power under the Abe administration to create and implement R&D policy. The MEXT FY14 budget request includes ¥35.0 million ($354 million) for the SIP, according to the NSF. The NSF also reports that the SIP’s total budget request is ¥51.7 billion ($523 million) and that 10 technologies are designated for funding, including “innovative structural materials” and “energy transportation and storage.” Excluding ¥5 billion ($51 million) for the CSTP, SIP funding will be divided among specified ministries.

Two primary aspects of the Creation of a Strategic Market plan are investments in healthcare and clean energy. For medical R&D, the Abe administration plans to establish a Japanese version of the NIH to act as a “control tower” for funding. The-japan-news.com reported that the administration has requested ¥138.2 billion ($1,398.5 million) for the “Japanese NIH,” making it the first time a unified budget request based on research focus has been submitted. Typically, each ministry submits its own budget request. The unified budget request indicates a 37% increase in funding. Science reported that the “Japanese NIH’s” FY14 research will focus on nine areas, with $310 million allocated to drug discovery research and a $215 million to be spent on cancer research.