TOKYO — The Japanese government is increasingly like a venture investor in space startups, soliciting ideas, making them compete for money and investing in those with the most business potential.

On Sept. 19, the government awarded a total of 10 billion yen ($69 million) in subsidies to three launch startups in the second leg of a three-stage competition. The first leg was held in September 2023, and four launch startups were selected . The last selection is scheduled for April 2026, in which two finalists will be chosen for full subsidies.