The site (www.inkubate.com) lets writers post their work on the site and charges publishers to have access to it.
I have a hunch that if I asked my publishers what they think of that idea I couldn't print the answer in a family blog.
There is no sifting on the part of the people running the site, which means there's no quality control. It's asking publishers to, in effect, pay to access a great big slush pile.
The site has been in beta for quite a while--in July 2011 they were saying when the full site is launched authors will get paid when excerpts are read by publishers or agents. Now, April 2012, it says the same thing.
I wondered whether lurking somewhere in the background is the intention to ask authors to pay for posting their material. Sure enough, the Frequently Asked Questions says "Right now, it costs you nothing to post your work."
Also the terms and conditions make reference to the writer's current annual subscription fees.
Yes, I think we can see where this is headed. Furthermore, they stipulate that if you list your manuscript with them, you can't independently seek an agent or publisher.
I'd say at least until you see a complete list of the agents and publishers who have signed up to use the service, and confirmed at least one or two yourself, my advice is stay away.
(For friendly guidance from idea through to publication, see my book, "Your Writing Coach," published by Nicholas Brealey and available from Amazon or your other favorite bookseller.)