Founders Factory is coming to Africa
Founders Factory is coming to Africa, reports TechCrunch. The company has £100m to execute its business model of building startups in partnership with corporations.
Founders Factory out of London is a startup accelerator and incubator which has taken the older US-inspired startup acceleration model and put a European slant on it by going in deep with corporates, who often flounder in the space. After some success out of the UK you would expect them to expand to big markets like the US or Asia, but instead, they have skipped the obvious route and are now branching out into the emerging markets of the African continent.
It’s now partnering with Standard Bank, the largest African bank by assets across 20 African countries to bring the model to Africa.
Founders Factory Africa says it will design, build and scale 100 disruptive tech startups across the continent over the next five years, initially with five early stage startups and co-create two new companies every year within the incubator.