In this paper, we investigate the role of Government-Backed Venture Foundations (GBVFs) in the small and medium enterprise investment (SMEI) program in Japan. Based upon two types of questionnaire surveys and personal interviews of GBVF managers, we try to identify patterns of investment of the GBVFs and examine their differences. Our results show that a high level of investment growth is achieved by those foundations whose policy is based on IPO-oriented investments. It is also found that regional voluntary venture-support network is a key to increasing IPO-oriented investments.

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As for the media-content business, diversification of media and digitization of content have increased business chances, and have brought a change in important management environment such as the decline of the entering barrier. In such a condition, the management strategy that conformed to the environment, to the management resources, to the organization, is indispensable so that new ventures of content provider may succeed. In this study based on the consumer research, we examine ①positioning strategy in which “content” “target” “media” conformed to the mutuality, ②profit model building strategy which is in consideration of a balance of the return and the risk, using of “harvest increasing” and “the effect of the connection”.

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[in Japanese]

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Germany creates 2.5 times of university spin-off venture businesses as the United States does. The university spin-off venture businesses include those that spin off from public research institutes. This venture business boom in the university and research institute sector is partly attributable to government efforts to establish a German model after the unification in 1990, suffering from budget problems and economic problems. This paper first presents the structure of the German Model to create university spin-off venture businesses. Then, the paper analyzes a mechanism to drive young researchers to start up a company, EXIT Program to create entrepreneurship culture, company creating companies (C3s) of universities and research institutes, technology entrepreneur centers and public matching investment. The system of cooperation among university, research institutes and industry that is the foundation of the German Model is also clarified. Finally, the implications of the German Model to Japan are summarized.

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This is a case study about one local university that has nurtured a positive environment for entrepreneurs and created new ventures. The study introduces 9 points as key points to developing such an environment. The study also suggests that universities must take a strong leadership role in developing and nurturing the environment for entrepreneurs and new ventures and that the role of universities is not only to create new knowledge but also contribute to the development of local societies and local economies by creating new businesses.

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In Japan, a law to support local entrepreneurs has come into force since 1995. The purpose of this paper is to show the potential and the problems of local entrepreneurs supported by prefectures, and what the policy to support them should be. I would like to focus attention especially on creative smaller businesses supported by Gunma prefecture. By investigating them thoroughly, not only regional characteristics but universal truth is pursued in the paper. Some entrepreneurs aim at being major companies, and others aim at being “excellent niche companies”, which enter the niche markets to avoid the competition with major companies and have the excellent ability of management. This paper shows the importance of excellent niche companies.

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