Facebook launched two 12-week accelerator programs for startups on Monday as the social juggernaut looks for new ideas and solutions to expand its commerce and connectivity efforts.
Facebook’s Commerce Accelerator will select 60 startups from the EMEA and LATAM regions for the program, the company said. The startups that make the cut will explore building shopping solutions to drive commerce inside Facebook’s family of apps.
“Our goal is to make shopping seamless and empower anyone from an entrepreneur to the largest brand to use our apps to connect with customers,” wrote Michael Huang, head of Startup Programs at Facebook, in a blog post.
The company said a recent global survey it conducted in partnership with the OECD and World Bank found that at least a third of small to medium-sized businesses on Facebook reported 25% or more of their sales being made digitally in the past month.
“With so many sales being made online, the importance of intuitive and positive e-commerce experiences for customers has become even greater,” the company said in a statement.
The other accelerator program, called Connectivity, will feature 30 startups from the LATAM and North America (Americas) regions. These startups will be tasked with developing affordable connectivity solutions that make internet access available in more places and to at least 100,000 additional people.
Facebook said through these accelerator programs it aims to provide local development opportunities for entrepreneurs. The company holds one or two similar accelerator programs each year in some markets. In total, the company has launched accelerator programs in 11 countries to date.
The coronavirus pandemic, which has forced Facebook to conduct the accelerator programs virtually this year, has “exposed the hard truth of the digital divide and the critical need for reliable, affordable internet connectivity,” wrote Huang.
Participating startups will gain access to cost-free training, 1:1 mentorship and access to Facebook products, its expertise and access to a global network of startup peers and successful founders. But the company is not offering monetary benefits to startups — something it has done in some of its previous accelerator programs — at accelerators announced on Monday.
Startups interested in either of the accelerator programs can submit their application.
“At Facebook, we strongly believe that by connecting, training, and growing entrepreneurs and startups through our programs, we can empower people to solve relevant, meaningful problems. We aim to build products that billions of people can use and benefit from,” Huang wrote.
Facebook has long focused on connectivity efforts, but its interest in commerce is relatively new. In May, Facebook chief executive Mark Zuckerberg unveiled Facebook Shops to make it easier for companies to list their products on Facebook and Instagram.
Source: Tech Crunch Social
Facebook launches commerce and connectivity-focused accelerator programs