Facebook unveils 2 'Accelerator' programmes to nurture startups
San Francisco: To help nurture the startup ecosystem, Facebook has launched two new Accelerator programmes that will focus on product themes and exploration of collaborative partnerships to provide even more value for startups.
Called 'Facebook Accelerator: Connectivity' and 'Facebook Accelerator: Commerce,' the 12-week programmes will take on a new format and will be completely virtual.
Applications for both the programmes are now open and the social network is "looking forward to providing this new innovative cohort with access to resources, industry experts, mentors, and potential investors".
"To continue the momentum of all the great work to date from startups in our programmes, we will be launching two Facebook Accelerator Commerce programmes that will run concurrently and will be available to selected startups," Facebook said in a blog post this week.
Over the past several years, Facebook Accelerator programmes have run in various countries, helping startups scale effectively through immersive and locally-tailored training.
The programme provides 1:1 mentorship from Facebook employees, training on Facebook's approach to products and businesses, and access to a global network of startup peers, successful founders, and industry experts.
The coronavirus pandemic has exposed the hard truth of the digital divide and the critical need for reliable, affordable internet connectivity.
"The 'Facebook Accelerator: Connectivity' programme will strengthen emerging startups focused on the same goal of bringing more people online to a faster internet," said the company.
This programme is for startups in the Americas that are focused on improving connectivity through technologies, solutions, and new models that address the availability and affordability of internet access.
'Facebook Accelerator: Commerce' is for startups in Latin America, Europe, Africa, and the Middle East building on commerce platforms, innovating solutions around catalog functionality, and enhancing the overall commerce experience through conversational tools and immersive shopping experiences.