This is an idea I've had for a while. We would compete with OpenCalais (http://www.opencalais.com/) but I like competition.
I actually have an NLP server that converts any data sent to it to JSON format with names/companies/locations, but no business behind it. I'd be curious to hear a unique idea on applying this data if you have one.
It is said that you shouldn't try to come up with a business model, but steal it. With that in mind, a business model of OpenCalais, which is also similar to DirectedEdge's, is a fine one.
However, OpenCalais is too low level. Which is fine, but you'd want to have a broader spectrum of services, including some applications that showcase the power of the platform. See more here: http://www.directededge.com/products.html
Also, language bind is a must. Having a REST API is fine, but having libraries that make it easy to access on any language is much better.
In the end it is all about execution. Make it really simple to use, show how to use, and let the users show you where the business model should be after a while they are using (Airbnb's presentation on the last startup school really shows how this can happen).
I actually have an NLP server that converts any data sent to it to JSON format with names/companies/locations, but no business behind it. I'd be curious to hear a unique idea on applying this data if you have one.