|Type||Accelerator / Incubator|
TheFactory focuses on fintech and insuretech startups in the early stage of development. They offer a 12-week program, where entrepreneurs will learn to develop and scale their business. Throughout the program, entrepreneurs one-on-one guidance from experienced mentors.
Opening its doors in September 2016, TheFactory is a brand new accelerator. TheFactory is a Launch-member of the Global Accelerator Network. While TheFactory is located in Oslo, the network provides perks professional development, networking opportunities, training, consulting and ongoing support for all its members in more than 30 different places around the world.
Throughout the program, you will be connected with great business mentors, market experts from different fintech verticals. Selected companies and entrepreneurs may receive an investment of up to NOK 350.000 in seed funding.
In return for the seed funding of NOK 350.000, TheFactory receives 5-12% in equity. The amount is negotiated on an individual basis. Out of the investment, 30% is detained as a program fee to help cover housing and other program costs for the program.
TheFactory is looking for startups in the fintech industry who is faced with the challenge of developing themselves to the next step. The program helps their portfolio companies develop a commercial prototype that they can test on the market.
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