After London and Johannesburg, Brent Hoberman, co-founder of Last Minute, is rolling out his startup incubator in Paris with the support of Aviva France.
The British incubator has teamed up with Aviva France to duplicate the method that has proved so successful in London. Since its launch in 2015, Founders Factory has launched and developed nearly a hundred startups.
Supporting 140 startups in the space of 5 years
Co-founded in London in 2015 by Brent Hoberman and Henry Lane Fox, Founders Factory, the gas pedal for young tech companies, has announced a partnership with insurer Aviva to roll out its unique model in France. Aviva is the first group to become a partner of this gas pedal and startup creator. The insurer will invest in Founders Factory over 5 years through its Aviva France Ventures fund. This partnership illustrates the Group's commitment to financing innovation in France.
With the support of this first partner in France, Founders Factory Paris will focus on existing startups, offering them a 6-month program enabling them to run pilot projects with partner companies. The incubator will also support start-ups in their international roll-out, helping them to raise funds or attract talent from abroad. Two programs are on offer: one designed to create new startups, the other to invest in existing companies and help them grow.
Founders Factory and Aviva have already worked together
This is not the first time that Founders Factory and Aviva have worked together. Indeed, in the UK, the insurance company has already supported around 20 startups in their launch, executed 16 pilot projects and signed 7 contracts with them. Aviva has also invested in two startups: Acre, a next-generation mortgage platform built on Blockchain technology, and Shepper, an on-demand inspection and data collection service.
Other partners in the luxury goods and retail sectors, for example, could soon join Founders Factory Paris to accelerate its development in France. The choice of France is no coincidence for the British incubator. Indeed, Paris is one of Europe's most dynamic ecosystems, attracting more and more investors and talent from all horizons.
A new Paris team of 50 employees
In Paris, 50 full-time specialists will be recruited to cover all aspects of startup growth, including: product development, engineering, business and financial development, data science and UX/UI. Albin Serviant, former Director of French Tech in London, has been appointed to head up the new Paris-based team. The aim: to reduce the percentage of startups that fail after two years in business.
Eventually, Founders Factory aims to become the world's best partner for entrepreneurs. For the time being, the incubator can already boast the support of major groups such as L'Oréal, Guardian Media, CSC, Holtzbrinck, Marks & Spencer and Standard Bank.