Today at Facebook HACK: Berlin, Facebook announced that it has partnered with early stage micro seed investment and mentoring program Seedcamp to help European social startups build new social products. Facebook will become a platinum sponsor and offer Seedcamp startups product, design, and technical resources as well as priority access to beta features.
Facebook’s assistance will help incubate young European startups so they can create social websites, mobile apps, and Facebook apps, and potentially become Facebook acquisition targets.
The partnership with Seedcamp is similar to one Facebook struck in August with US-based startup incubator Y Combinator. Facebook started its own $10 million seed fund called fbFund in 2007, but ceased operations midway through last year.
Founded in 2007, the London-based Seedcamp offer a three-month mentorship program, two-week US roadshow, and a €50 thousand investment in exchange for an 8-10% minority stake. Startups apply and are vetted by a team of VCs and angel investors, and the winners enter the program.
Seedcamp’s blog says that many of their startups already use Facebook integrations, so the direct assistance from the social network’s team will help the entrepreneurs overcome development obstacles. Facebook will also become a platinum sponsor, helping to fund Seedcamp. It joins existing sponsors Google, PayPal, and Microsoft BizSpark.
Facebook has a relatively good investment history, with several fbFund recipients attaining some level of success, including Weardrobe, Networked Blogs, SamaSource, Kontagent and Nutshell Mail which was acquired by Constant Contact. With so much investment activity in Silicon Valley, Facebook is showing its commitment to the international development community through the Seedcamp partnership.
Developers interested in a chance to become a Seedcamp startup can apply for the April 14th Mini Seedcamp Berlin before March 27th.