Softbank, Intercontinental Group Launch Incubator

Softbank Corp. and the Intercontinental
Group launched I-Group, an Internet business incubator
featuring “mentor capital” services.

These services include management, partnership, investor
and recruitment mentoring; access to Softbank’s “netbatsu” network and a
venture capital fund.

“I-Group’s aim is to attract and select the highest caliber entrepreneurs by
offering the best available ‘mentor capital’ and resources to launch these
new businesses quickly and successfully,” said Ron Schreiber, managing
director of I-Group.

The Softbank “netbatsu” is comprised of Softbank’s network of more than 130
high-tech and Internet companies.

“I-Group has a set of turnkey solutions,
across multiple business disciplines, which gives entrepreneurs a six month
lead time in the critical first-to-market race,” said Ellen Roy, managing
director of I-Group.

I-Group also announced its first tenant,, an application
service provider founded by Paul Ognibene, a recent Harvard Business School
graduate and business plan contest semi-finalist.

All incubator portfolio companies will have access to the I-Group Jump Start
Kit, comprised of a series of strategic partnerships that provide discounted
services in critical business areas, a list of preferred providers to provide
quick solutions to typical business problems, and a library of business
documents to ease the administrative burden on start-up companies.

And entrepreneurs in the incubator can plug into more than 130 netbatsu
portfolio companies for partnerships, sales and investors.

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