Founders Factory Signs Marks & Spencer As Exclusive UK Retail Investor
The model of building vertical market-specific accelerators is now well known, but in the UK, Founders Factory, which has emerged from Lastminute founder Brent Hoberman’s stable of projects, is poised to take it to another level. Today it launches Founders Factory Retail, a joint venture with UK retail giant Marks & Spencer’s, focused on investing and growing start-ups. M&S will become Founders Factory’s exclusive UK & European partner, and invest in a number of start-ups, sourced through Founders Factory’s network, which will expose the retail business to new “technologies, business models and entrepreneurial thinking”. M&S famously admitted it had a ‘burning platform’ recently, so it’s to be hoped this startup DNA will re-energise the company. M&S will become the majority shareholder within the JV. Read more at Tech Crunch.
