Facebook launches commerce and connectivity-focused accelerator programs
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.
Facebooks 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 Facebooks family of apps.
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 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.
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.
In May, Facebook chief executive Mark Zuckerberg unveiled Facebook Shops to make it easier for companies to list their products on Facebook and Instagram.
We use cookies and analyse traffic to this site. By continuing to use this site, closing this banner, or clicking "I Agree", you agree to the use of cookies. Read our privacy poplicy for more information.