SoftBank to build startup campus in Japan’s Aichi Prefecture by Nikkei Asia

TOKYO – SoftBank Group’s telecommunications unit will launch one of Japan’s biggest startup incubation centers to nurture more unicorns – startups valued at $1 billion or more – in the country, the company announced Tuesday. SoftBank Corp. won a 14.4 billion yen contract from the Aichi prefectural government to design and build the facility, Station Ai, in Nagoya. The center will be owned by the Aichi government and a newly established SoftBank subsidiary will pay 255 million yen for the right to manage it for 10 years. SoftBank aims to attract startups, including those from outside Japan, by using its global network of tech investments and offering perks such as access to a supercomputer, and services such as mentorship at the facility. SoftBank Group is one of the world’s most aggressive technology investors, but its two Vision Funds do not have any investments in Japanese startups. The local government drew up a strategy to build a startup hub in 2018 and already runs incubation programs, including a partnership with China’s Tsinghua University that helps Japanese startups enter China. Aichi has also launched a startup support center ins a shared office space in Nagoya run by WeWork Japan, a joint venture between SoftBank Corp. and WeWork.