Facebook has announced a new chapter of its LDN_LAB accelerator with a focus on deep tech startups. Teams can apply until September 6, while the programme itself starts at Facebook’s office in central London in early November.
The new chapter of the accelerator will focus on “Deep Tech for Good,” Facebook stated in a press release. The social media giant would like to see applications startups working with “artificial intelligence, robotics, augmented reality, virtual reality and voice recognition to address some of the world’s biggest challenges.”
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.
This is the third iteration of the LDN_LAB programme, which was launched in February this year and the second one focused on startups. The previous chapters received “over 100 applications.”