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KDDI joins corporates to launch incubator

  • Andrew Woodman
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Japanese telecoms giant KDDI will partner with 13 other corporates to create a start-up incubator targeting internet-related businesses.

A JPY5 billion ($48.8 million) fund will be formed to invest in the start-ups.

According to Nikkei, the consortium will include retail conglomerate Seven & i Holdings, trading house Mitsui & Co, stationary manufacturer Kokuyo, Dai Nippon Printing, toy company Bandai Namco Holdings, rail operator Tokyu and real estate firm Mitsui Fudosan.

Five start-ups will initially be selected for the program. Each of the companies backing the incubator will offer their own management and sector expertise to assist the start-ups. For example, Seven & i will supply sales data collected at its stores to aid marketing operations, while KDDI will offer its smart phone expertise.

This collaboration is intended to broaden KDDI's previous efforts at backing Japanese start-ups. The firm set up its own program in 2011 - KDDI Mugen Labo - primarily focusing on smart phone application development.

In March, Mugen Labo launched the sixth iteration of its program. The winner of its last demo day was Smaoku, a mobile auction app for trading second-hand branded goods.

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