Facebook has announced a new chapter of its LDN_LAB accelerator with a focus on deep tech startups.
Facebook announced the initiative this week, having opened its startup incubator LDN_LAB in London in February 2018.
Startups have until September 6 to apply for the program, while classes will starts at Facebook’s office in central London early November.
The new chapter of the accelerator will focus on “Deep Tech for Good,” Facebook stated in a press release.
“We are looking for deep tech companies that are using pioneering technologies to create a positive impact, for example, through the use of artificial intelligence, robotics, augmented reality, virtual reality, and voice recognition,” the company says on its LND_LAB website.
During the 12-week-long program, seven selected startups will receive mentorship, coaching, and support from Facebook itself and its partners. Among them are Facebook’s EMEA VP Nicola Mendelsohn and VP, Northern Europe, Steve Hatch, as well as the company’s technical teams and the partner of LDN_LAB Bethnal Green Ventures.
The programme’s website lists the criteria for startups that can apply:
- Are at the seed stage or beyond
- Have a skilled team in place with a social mission
- Use pioneering technology with evidence of product market fit
- Have a runway for the next 12 months, and a plan to execute
- Show significant progress in growth and revenue
- Are based in the UK
Unlike many traditional accelerators, Facebooks doesn’t take equity from the selected startups and doesn’t offer any cash investment.
Facebook has been bringing startups to its London incubator since earlier this year when it first invited startups including Mush, the networking app for mothers, and food-sharing network Olio. This is the third iteration of the LDN_LAB programme. The previous chapters received “over 100 applications.”
The company has said that its U.K. division is one of its largest product and engineering offices outside the US.