Microsatellites – The cool new venture in Japan?

Are Microsatellites the cool new venture in Japan?

According to Yomiuri Online journal, the Japanese Government will provide funding for creating a new market for microsatellites, in a move to stimulate the economy and develop a new industry.

The microsatellites would be the size of a small suitcase with a weight of around 50Kg. The cost of each microsatellite is estimated to around 3 to 4 million USD. For cost saving purpose, the microsatellites would be launched using Russian rockets.

While in the US, the classic ".com" - Silicon Valley ventures have diversified and moved behind internet, (i.e. Tesla Motors, Virgin Galactic), could this signal the start of a new high tech venture era in Japan too?

Is this the Bit Valley 3.0?

It would be awesome if so!