Does building 200 technology businesses in the next 5 years sound crazy to you? We met Founders Factory, a team of 50+ experts and professionals who is up for that challenge. We followed Julie, who works as an associate there. She showed us around their coworking/open office in Kensington and sat down with us later to tell us more about the story behind their big goal.
Founders Factory was born out of the Founders Forum – a global network of successful entrepreneurs and businesses. It defines itself as a new business model combining acceleration and incubation of startups and it is supported by 6 corporate partners, with genuine ambition. The targeted sectors of Founders Factory includes:
– FinTech & InsurTech
– AI & Big Data.
The founding team has proven track record. It was started by Brent Hoberman who co-founded lastminute.com and Henry Lane Fox, Head of Founders Forum Group. They brought together a team of 50+ dedicated talents in the field of development, design, fundraising, engineering, marketing and more.
The accelerator in-house invites the best early stage startups coming out of the specific sectors listed above. To be selected, the startups need to have a product or a service aligned with the interests of their partners and operating teams. Once chosen, Founders Factory invests seed capital in each of the startups and gives them access to their workspace for 6 months. During that time, the operations team works closely with each startup and support them in scaling and growing their business. Some of the latest successes include vidsy.co or lightneer.
The incubator program builds ideas from scratch with their product specialists, engineers, designers and marketers. The idea is taken from their source: the corporate partners and their network. The team of specialist partners up with the corporates to share knowledge and expertise on the product and go-to-market strategy and grows from idea and concept to product and business model.
A buzzing environment.
Founders Factory has a big startup vibe. It is very spacious and bright and offers to members everything they need to focus and do their work.
The place is buzzing! it is a modern facility using the latest technologies and furniture to make people feel good and happy. Each team is given a big table where they can expand and build their own company culture while still being in a common space with other startups around.
The secret recipe of Founders Factory lies in the network they built. On one end, they brought on board corporates who are eager to disrupt their own industry by working closely with startups. On the other end, they gathered a team with excellent track record and extensive know-how in building new product in new markets. Lastly, they attract bright startups to whom they give extensive support and financing to let them focus on building their product and nothing else.
Before leaving, we took out our selfie stick and chose the coolest logo/light ever to take a shiny selfie!
If you want to read some great articles written by the Founders Factory team, click right here!
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