Tokyo and London are planning to create a joint fund to back startups working on dual-use technologies such as AI, quantum computing, drones, and space, Nikkei Asia reported Friday.

The fund, which could amount to several billion yen, will be announced at Sunday's summit between Prime Ministers Takaichi and Starmer, the news agency said.

A separate memorandum will be signed by NEDO, JETRO, and Innovate UK, with JETRO helping connect startups from both nations to the investors, the publication said.

The initiative builds on pledges made during the leaders' January meeting to deepen industrial strategy and economic security cooperation, the report said.

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