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SoftBank To Launch Startup Incubation Center In Japan

Aayat AlibyAayat Ali
September 7, 2021
in News
Reading Time: 1 min read
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SoftBank To Launch Startup Incubation Center In Japan

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SoftBank’s telecommunications unit is launching a startup incubation center in Japan in order to hoist up unicorn companies.

The conglomerate recently received a $131 million contract from the Aichi prefectural government to build the new facility in Nagoya. The space is expected to take up 247,570 square feet across seven floors and be completed by 2024.

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While the Aichi government will own the facility, SoftBank’s subsidiary will pay 255 million yen ($2,313,678) to manage the center for ten years.

SoftBank will help attract and recruit startups in Japan and outside of the country, while offering unique services such as mentorships.

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Envoy - Workplace ROI

Although SoftBank is a Japanese conglomerate, neither of the organization’s Vision Funds have invested into any Japanese startups.

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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