The ten teams will be supported by the Foundry through the L.E.V8 programme for a six month period, ending in September 2018.
The Oxford Foundry (OXFO) is a new entrepreneurship centre at the heart of Oxford University, an initiative led by Professor Peter Tufano, the Dean of Saïd Business School, with a founding donation from Reid Hoffman, Founder of LinkedIn. The call for applications was only open for two weeks, but in that period more than 130 early-stage start-ups applied to the Foundry’s OXFO L.E.V8 accelerator programme, each of whom have at least one Oxford University-affiliated person on their founding team. The Foundry takes no equity, and requires no transfer of IP from the ventures it supports through L.E.V8, and the package of support is estimated to have a value of £60k per team.
The final 10 teams selected for the L.E.V8 programme comprise 30 entrepreneurs, from 11 different nationalities. They will benefit from a range of support including bespoke masterclasses, practical advice and support to develop and scale their businesses, and access to advisors, industry experts and investors. All the ventures will have a designated workspace within the Amersi Foundation Accelerator at the Oxford Foundry’s central Oxford location for the six months of the programme. The teams will finish their six month residency at L.E.V8 with a demo day in September, where they will showcase their businesses to an audience of invited guests, including investors and members of the Press. Further details of the demo day will be announced in June 2018.