Social media giant Facebook announced the expansion of its startup accelerator program to support other potential startups developing technologies that have a positive impact on the world. In this regard, the third edition of its London accelerator program will be open to startups across Europe, the Middle East, and Africa for the first time.
LDN_LAB (London Lab)
Launched a couple of years ago as LDN_LAB in London, this 12-week incubator program is now renamed as Facebook Accelerator London. However, the physical space will be called as LDN_LAB. For your information, LDN_LAB is a dedicated space for startups, located in Facebook’s London Rathbone office.
Nicola Mendelsohn, Facebook’s VP of EMEA region, said:
“Innovation is at the heart of Facebook, and today we are opening up our London accelerator program to applications from startups across Europe, the Middle East, and Africa. The selected startups will gain access to experts from across Facebook, including those working in augmented reality, blockchain, and AI.”
Facebook Accelerator London!
According to Facebook, the program will focus on startups that use Artificial Intelligence (AI), AR/VR, Blockchain, or any other Facebook technologies. The chosen startups will participate in a workshop and receive mentoring and support from Facebook employees. Starting from November, this 12-week program will run in partnership with digital consultancy Founders Intelligence.
Matt Warman, Minister for Digital, said:
“London is one of the world’s great tech hubs. It attracts record levels of investment, boasts a business-friendly environment, and has a long-standing reputation for innovation. I am delighted that Facebook Accelerator London will bring startups from around the world to the capital to learn from leaders in our hugely successful tech community. This program will help these startups have a positive impact in communities across the world, and I encourage all interested to apply.”
This 12-weeks program will focus entirely on helping startups grow their business. Facebook’s London headquarters is its most significant engineering base outside of the US.
Home to a thriving international community of tech, London is an epicenter of startup activity. Ranked as the 6th most robust startup ecosystem in the world, London is known as a powerful location for startups.
London Lab is Facebook’s long-term commitment to the tech ecosystem that operates with a mission to give people the power to build communities.
With the LDN_LAB, the company is planning to build an alumni network of startups globally so that they can not only support each other from the network but also have access to a global network as well.
In addition to this accelerator program, the social media giant is working on other projects, including its cryptocurrency Libra, satellite-based Wi-Fi hotspots, subsea cabling projects, and AR/VR etc.
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