Founders Factory has created a modern-day assembly line of digital experts addicted to entrepreneurship.
All about sponsoring the imagination, Founders Factory hopes to build and scale over 200 technology businesses, ranging from beauty to artificial intelligence, over the next five years.
Founders Brent Hoberman and Henry Lane Fox met while working at lastminute.com, and witnessed a number of large corporations struggling to innovate.
Many CEOs realized that while they were getting comfy at the top of their industry, the little guys were innovating in unpredictable ways. Their company structures were not conducive to disruption, so instead of changing the way they did things, they decided to back startups. That’s where Founders Factory came in.
“There was a massive untapped opportunity for big businesses to benefit from partnering with and investing in new business models while offering their insights and assets to give an unfair advantage to these new startups.” says Hannah Blake, Business Development Lead.
Founders Factory built a model to create and grow small businesses with the support from corporate partners. This would be a great way to for them to keep track of the up and coming competition, while also investing in the future of their industry.
But it’s not just the big guys who benefit. With their 6-month bespoke accelerator program, startup founders have the opportunity to rocket launch their early stage business with the help of Founders Factory’s full time operations team of 60 digital experts. Professionals across Product, Engineering, Design, Data Science, Growth, Branding, PR & Marketing, Business Development and Fundraising all form part of the factory assembly line.
One of their startups, Tailify, has already raised over 1 million dollars. Tailify was one of the first five beauty companies to participate in the accelerator program partnered with L’Oreal. Their website and app professionalizes the booming influencer economy and allows brands to connect with influencers, execute campaigns and assess their impact and success. The start-up has worked with multiple L’Oreal brands, and a lipstick campaign with Lancôme saw over 1.8 impressions before it even launched thanks to the influencers present at the photo shoot.
The teamwork of Founders Factory, L’Oreal and Tailify allowed Lancôme to harness the power of influencers and better advertise their product. In total, Lancôme received 7 million impressions, and they are now planning their next project together.
Tailify is just one of many recent successes that Founders Factory has celebrated.
Piece by piece, the effective hands of these digital factory workers are building businesses that make a difference. Constantly on the lookout for creative minds and new ideas, Founders Factory is excited for what lies ahead.
Lani Allen is a junior at Columbia University majoring in Creative Writing with a concentration in Spanish. Having served as Vice President of her class for two years, she has since contributed written pieces and illustrations to many on-campus publications. As a writer with an interest in the beauty industry, Lani intends to pursue a career in either journalism or fashion marketing.