A health ministry panel on Thursday shared its vision for making Japan's health care startups more competitive overseas based on making more strategic investments.

The panel believes that Japan possesses the potential to be a global leader in health care innovation, but that there are challenges in commercializing these innovations and growing them into sustainable businesses.

“Health care, which is Japan's social infrastructure and treasure, must now be led by startups to innovate and contribute both in Japan and globally,” panel chair and management consultant Shuji Honjo said in a statement.