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(Bloomberg) A new $100 billion government endowment to help foster daring Japanese innovation may have a risk-aversion problem of its own.Interviews with experts and public comments from officials suggest that the fund approved last month to promote Japanese research may target returns similar to or lower than the national pension fund, which gets about 3%. That means a potential budget of no more than around $3 billion annually. Harvard University makes that much all by itself with an endowment that’s less than half the size.At stake for the world’s third largest economy is its ability to innovate quickly enough to keep up with faster-growing rivals like China and the U.S. China boosted its investment in science and technology research almost threefold in the decade to 2018, while Japan’s funding basically stayed flat.“It’s absolutely clear Japan hasn’t been investing in a way that reflects its power as a nation,” said Kazuto Ataka, a

Harvard universityKazuto atakaYahoo japanJapanese researchPublic universitiesStephen ezellNational pension fundKeio universityஹார்வர்ட் பல்கலைக்கழகம்யாகூ ஜப்பான்ஜப்பானிய ஆராய்ச்சிபொது பல்கலைக்கழகங்கள்ஸ்டீபன் ஏஜெல்ழ்தேசிய ஓய்வூதியம் நிதிகேோ பல்கலைக்கழகம்