UK tech accelerator Founders Factory is becoming a member of forces with a European counterpart to launch the Founders Factory Sustainability Seed program. Launched in partnership with G-Force (the G is for Green) based mostly out of Bratislava, Slovakia, the program will look to put money into and speed up climate-tech startups.
The program will put money into entrepreneurs with startups that may scale back the world’s greenhouse gasoline emissions, pace up the transition to a round financial system, create sustainable housing and manufacturing options, in addition to handle climate-friendly mobility, meals/feed manufacturing, and capturing/storing CO2 and methane.
The Program, run with G-Force largely out of Bratislava, Slovakia, will likely be operated in a “hybrid” method: mixing distant and in-person assist.
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The concept is that any eco-tech enterprise in any location on this planet can apply and be a part of the program.
Founders Factory’s companion within the Sustainability Seed program, G-Force, is being backed financially by a syndicate of Central and Eastern European traders together with Boris Zelený (determine behind AVG, which bought to AVAST for $1.4bn), Marian Gazdik (Startup Grind), and early-stage traders Peter Külloi and Miklós Kóbor.
Startups chosen program for the need get a Seed funding of as much as €150,000, six months of startup assist utilizing Founders Factory’s staff, in addition to introductions to potential prospects, companions, corporates, and traders.
Henry Lane Fox, Chief Executive Officer at Founders Factory, stated: “By nurturing the disruption entrepreneurs are so good at creating we can design a better, more sustainable future for all. In partnership with G-Force, Founders Factory Sustainability Seed Program will be a leading pre/seed program committed to building and supporting the ventures that will have a positive impact on the world.”
Marian Gazdik, co-founding companion of G-Force, stated: “Our ambition is to make G-Force, in partnership with the Founders Factory Sustainability Seed Program, into a world-class sustainability innovation hub, based in the heart of Europe.”
Expanding on the concept, Lane-Fox advised me: “In this particular case, rather than being aligned to one individual corporate partner, which has been our model to date, we’re able to bring together a group of angel investors and make this more of a pure financial investor play. We think that actually suits this specific sector better. We will also be providing a bit more capital to those companies early on to make sure they can benefit from the program to the maximum degree.”
Gazdik added that by being based mostly within the EU quite than the UK, the program can even be capable of reap the benefits of some EU grant applications.