The Osaka Prefectural Government and City Government have made a significant move to bolster the financial sector in the region. On April 21, 2023, they jointly announced a new Subsidy Program aimed at attracting financial companies, particularly those involved in FinTech, both from Japan and overseas.
Benefits for FinTech and Finance Businesses
This Subsidy Program offers a helping hand to FinTech-related businesses that are considering establishing their base in Osaka. The primary goal is to encourage the growth of innovative financial services that leverage IT, including technologies like artificial intelligence (AI) and blockchain. Companies operating in asset management, investment advisory, and related fields are also eligible to apply for this subsidy.
What Does the Subsidy Cover?
FinTech companies that meet the criteria can receive financial support to cover a part of the cost incurred during the initial phase of establishing a base in Osaka. This reduces the financial burden on companies when entering Osaka market.
Eligibility for Foreign Financial Companies
Foreign financial companies providing services such as innovative financial solutions utilizing IT (including AI and blockchains), asset management, investment advisory, and other asset management-related businesses that are approved by the Governor of Osaka Prefecture, are eligible for this subsidy. It's a move designed to make Osaka an even more attractive destination for international financial firms.
Driving Innovation in Osaka
This initiative reflects Osaka's commitment to fostering innovation and economic growth in the financial sector. By offering support to FinTech companies, Osaka aims to strengthen its position as a hub for cutting-edge financial technologies and services.
How to Apply
Detailed information on eligibility criteria and the application process is available on official channels. Interested companies are encouraged to explore this opportunity and contribute to Osaka's vibrant financial landscape.
Source: Osaka Prefectural Government
Published: December 2023