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Business

Public-private fund to target innovative materials

TOKYO -- A Japanese public-private fund will lead an initiative to develop cutting-edge industrial materials, looking to leverage technologies held by universities and research institutes.

     The Innovation Network Corp. of Japan will partner with 10 major producers of materials and chemicals, including Asahi Glass, Sekisui Chemical, Ube Industries, DIC, Nippon Shokubai and Dexerials. The INCJ will contribute roughly 6 billion yen ($49.3 million) to a dedicated fund. Each company will pitch in 500 million yen and engineers.

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