Facebook has celebrated businesses that have graduated from the third chapter of the Facebook Accelerator London programme. Hosted inside Facebook London’s tech office. The Facebook Accelerator London programme runs in partnership with Founders Forum Group’s digital consultancy agency Founders Intelligence.
The program is open to high-growth start-ups who are creating impact at scale using artificial intelligence (AI), virtual and augmented reality (AR/VR), or other Facebook products and technologies.
The initiative encourages start-ups that are harnessing the power of technology to have a positive impact on the world. Including companies who are improving digital connectivity around the globe. So far, the programme has supported 25 emerging start-ups in total. And in the latest iteration, has been open to start-ups from across Europe, the Middle East, and Africa for the first time.
This year, 11 startups have graduated from the program. The startups have undergone a 12-week programme where they worked with Facebook mentors. Including product managers, data scientists, marketers, recruitment specialists, and engineers. The Facebook Connectivity team also worked to support the companies that were building solutions to remove digital connectivity barriers. Including those looking to bring faster, cheaper and better connectivity and internet services to people, we’re making information more readily available or improving digital literacy.
Facebooks Research on the impact of the program estimates that around 25 million businesses in the European Union, mostly small businesses, are using the services. On a monthly basis, more than 375 million people from around the world are connected to a small-to-medium sized business from the UK.
When looking at the top ten fastest-growing British tech startups. Over half a million people are connected to them on Facebook. Representing the important role Facebook plays for startups across in the UK, Europe, and beyond.
“Fostering innovation is at the heart of what we do at Facebook and we’re passionate about supporting the next generation of start-up businesses. It has been a privilege to watch these start-ups grow during their 12 weeks with us. Seeing so much exciting entrepreneurial talent come together here in our London engineering hub has been very special. We look forward to watching each of these start-ups go from strength to strength as they graduate from the programme.” said Steve Hatch, VP for Northern Europe at Facebook.
“Britain is one of the world’s top tech hubs. With founders across the country turning great ideas into successful businesses and creating new jobs and wealth. We are also attracting record levels of investment thanks to our long-standing reputation for innovation and business-friendly environment. Facebook’s continued investment in this programme means more tech for good startups from across the world will come to the UK to learn new skills and share best practice.” Said Digital Minister Caroline Dinenage
A number of startups have benefited from the program so far. For instance, Collective Benefits, a UK startup that provides insurance and employee benefits for the gig economy worker. The team went into Facebook Accelerator London aiming to sign an enterprise client deal. They used the office space extensively to conduct meetings with potential hires, investors, and funders.
From this, they’ve raised £3.3m in seed funding. They have also opened positions for 5 new roles and refined their go-to-market strategy. With the aim of closing some particular deals in February.
