FbStart funds $100 mn to 3,800 startups

Published on May 17, 2015 00:31:31 AM
Technology
Last year, Facebook rolled out FbStart programme to help early stage mobile developers build, grow and monetise their apps through mentorship and benefits provided by it and its partners. In its first year, the programme distributed more than $100 million in benefits to more than 3,800 startups around the world.

FbStart since then hosted events with thousands of developers in more than 10 countries, including France, Germany, Israel, the U.K. and Brazil. Facebook kicked off the 2015 FbStart World Tour, a 20-city event series where Facebook executives and FbStart partners meet with startups to provide coaching and feedback on how they can grow their businesses.

FbStart members are from across the world with over 60 per cent of its members located outside of North America, with India, the UK, and Brazil among the top five member countries. "We now have more than 20 partners contributing benefits worth more than $80,000 for companies in the Accelerate track, $30,000 for Bootstrap, and $15,000 for Pre-launch,” the company said.