SoftBank announces innovation program for smart homes and vehicles, digital marketing, healthcare

Is your startup working on smart home appliances or connected cars? Japanese internet and telecommunications giant SoftBank might want to work with you. The firm today announced the SoftBank Innovation Program, a global initiative that will support the development of third-party products and services with SoftBank’s own resources.

The program will seek partnerships in four specific verticals: smart homes, connected vehicles, digital marketing, and healthcare. To be considered, entrants must have already developed the technology or system that can turn their idea into an actual gadget or platform. SoftBank isn’t interested in concepts, as the firm’s end goal is bringing its partners to market.

“For applicants that make the shortlist, SoftBank will provide funding for prototype development, environments for test marketing, and other forms of assistance,” the company said in a statement. “Applicants that make it to the final stage will be able to deploy their offerings on SoftBank’s sales channels in Japan, and potentially into global markets through other companies in the SoftBank Group such as Brightstar […] and Sprint.”

SoftBank’s Innovation Program isn’t limited to startups. Established companies can apply, but individuals may not. Applications from around the world will be considered, as long as those applying can be present for interviews in either Tokyo or Silicon Valley.

It sounds like an accelerator, right? Not according to SoftBank.

“The [Innovation Program] is not an accelerator program,” a company spokesperson tells Tech in Asia. “We are seeking submissions from companies with great solutions and technologies that are close to commercialization [to] partner with us. For submissions that are accepted, we’ll provide test environments and other resources, but we are not [directly] funding the companies.”

As for what SoftBank gets out of the deal, the company wouldn’t specify if it will take equity or share revenue if the winning team does make it to market. We’ve reached out for further details, including how many third-party teams the firm is willing to partner with.

Potential collaborators can apply directly through the SoftBank Innovation Program website starting today. Applications will be accepted until September 30.