Coinbase (NASDAQ: COIN), Fabric Ventures, Animoca Brands and Founders Factory have launched a multi-million pound accelerator in the UK, set to transform the UK’s blockchain and AI ecosystem.
This initiative reportedly aims to unlock product market fit and growth for the so-called “next generation” of disruptors and to “drive investment in technology startups as a key engine of the UK economy.”
With reservoirs of talent, capital, sophisticated regulators and academic institutions, the UK is “positioned to benefit from these opportunities.”
However, ensuring that these products and services “are born out of the UK is vital.”
For too long, access to capital, mentorship and resources “has held back this ambition.”
This initiative changes that, according to a blog post by Coinbase.
City Minister Emma Reynolds commented on the announcement at the Global Fintech Forum, saying:
“This will ensure that the UK remains a global leading hub for blockchain technology which is set to transform every aspect of the UK. This accelerator will unlock growth, unleash a wave of productivity, and foster a new generation of tech disruptors.”
UK Business and Trade Secretary Jonathan Reynolds said:
“This announcement is a strong vote of confidence in the UK’s tech sector – underlining our position as a global leader in innovation. Not only will it ensure that the UK remains a key leader in blockchain technology but will also unlock growth as we deliver on the Plan for Change. Our modern Industrial Strategy has highlighted financial and professional services as key growth sectors for the UK to thrive in, showing that we are listening and responding to the needs of Fintech businesses – whether that’s on access to talent, finance, or the wider regulatory environment.”
Founders Factory will deliver business and growth training, with hands-on support “across business strategy, go to market, product development and fundraising.”
Alongside them, Fabric Ventures, Animoca Brands and us at Coinbase, will deliver support “on tokenomics, community go-to-market strategies, and best practices for scaling businesses in the blockchain & AI space.”
Each founder in the first cohort “will receive up to £250k in funding.”
Robby Yung, the CEO of Investments at Animoca Brands stated:
“It is critical that the UK takes advantage of the opportunity of the fast–growing Web3 industry, not just as a hub for investment but as a place where innovation is built, owned, and scaled. The UK must be a creator, not just a consumer, of this innovation. The real opportunity lies in developing it here, building intellectual property that leverages the world-class talent base and ecosystem in the UK.”
Co-founder and Managing Partner of Fabric Ventures, Richard Muirhead said:
“This Government’s AI Action Plan has been met with widespread optimism. However, this is only one piece of the puzzle. The convergence of AI, blockchain and Web3 plays to the UKs strengths in these disciplines – and fostering collaboration amongst our strong industries like financial services, advertising and pharmaceuticals is essential for the UK to maintain its leadership in the global digital race. This accelerator will play a key role in driving that progress.”
Damian Routley, COO at Founders Factory, said:
“This is about leveling up the UK’s ability to build and scale frontier technology. Founders in blockchain and AI need more than capital — they need hands-on, specialised support to unlock product-market fit and go global. That’s what this accelerator delivers. By combining deeptech expertise with the power of a world-class network, we’re creating a launchpad for the next generation of breakthrough UK startups.”
The Labour Government’s vision for growth is “tied to the success of one of the UK’s fastest-growing sectors: technology.”
This initiative is said to be a step change in making that vision a reality – supporting “a diverse group of founders across blockchain-based payments, entertainment, AI, and other cutting-edge industries.”