According to The Nikkei Asia, SoftBank Group's telecommunications unit will launch one of Japan's biggest startup incubation centers to nurture more unicorns -- startups valued at $1 billion or more -- in the country.
SoftBank Corp. won a 14.4 billion yen (US$ 131 million) contract from the Aichi prefectural government to design and build the facility, Station Ai, in Nagoya. The facility is scheduled to be completed in 2024 and will span 23,000 sq. meters across seven floors.
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.
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