yes but no other boat brands itself as representing a country. and about a 1/3rd of the funding is from the govt.
from what I recall reading that will change, previous cup campaings have had country brtanded teams in fact I recall the 2000 in NZ having multiple "country" teams - Young Australia, and Young America along with Nippon Challenge. In the 1995 series there were even more country based teams in cluding France and Spain. It seems that since the 2003 challenges the "country" teams got out cos of the cost (I assume) and left it to the big guns - although Luna Rossa was essentially an Italian team and the Spanish were still around too.
so in all reality the major deop off of country based teams occurred when the yanks changed the rules, cos looking at the list of contenders that withdrew (9 in total) most of them were country branded teams - established specifically to race in the America's cup.