Founders Factory signs Marks & Spencer as exclusive UK retail investor

TechCrunch | 7/23/2018 | Staff
baileyboo (Posted by) Level 3
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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 - Platform - Startup - DNA

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.

Steve Rowe, Chief Executive said: “Partnering with Founders Factory as their exclusive retail partner gives M&S access to a global network of start-ups and entrepreneurs which will provide disruptive thinking and questioning to the way we work at a time of critical transformation within the business. Founders Factory have a great track record in creating successful businesses and by investing in new innovative technologies and products we hope to change the way we work and operate.”

Brent - Hoberman - Co-Founder - Executive - Chairman

Brent Hoberman, Co-Founder and Executive Chairman, Founders Factory: “We are excited to partner with M&S as our exclusive retail investor in the UK and combine the company’s scale and experience to support early-stage founders. After over 60 investments in the last two years we have seen the huge potential of combining startup innovation with corporate scale and expertise,...
(Excerpt) Read more at: TechCrunch
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