WATI editor
Apr 18, 2024
Japan's Ministry of Economy, Trade, and Industry has revised its procurement policies to expand bidding opportunities for SMEs and startups.
The Ministry of Economy, Trade, and Industry in Japan has enacted a significant revision to its procurement policies, aiming to bolster the participation of small and medium-sized enterprises (SMEs) and startups in public tenders. Effective from March 28, 2024, the update to the October 10, 2000, decision by the government's Electronic Procurement Promotion Council has broadened the opportunities for technically skilled SMEs to engage in bids beyond their current grading levels.
Previously, firms recognized under the J-Startup program or supported by the Incorporated Administrative Agency of the Industrial Innovation Organization could bid for contracts above their classification. The revision now extends these privileges to include enterprises supported by other principal public-private funds, companies selected by regional J-Startup programs, and those invested by or investing in national research and development corporations like AMED (Japan Agency for Medical Research and Development) and NEDO (New Energy and Industrial Technology Development Organization).
This strategic expansion is designed to cultivate a more inclusive bidding environment, encouraging innovative contributions from a broader range of dynamic and technologically adept businesses. The move reflects the government’s continued commitment to integrating more startups into public procurement processes, aiming to stimulate innovation and growth within Japan’s economy.