The partnership, dubbed ‘Mission Studio’, will tackle such problems a halving obesity rates, loneliness, and aim to slash household carbon emissions by 28%. The venture builder will support Nesta’s broader 10 year mission objective to help people live healthier lives and create more sustainable futures. It will aim to generate three new startups a year until 2024.
It will also aim for 50% women founders, 35% founders from minoritised ethnic backgrounds, 15% from lower socio-economic backgrounds.
Claire Morris, Chief Studio Officer at Founders Factory, said: “Central to this is our ‘Diversity by Design’ strategy and we’re proud the Mission Studio is uniquely placed to empower more diverse founding teams. As a venture builder, we can provide bespoke operating support, mentorship and the ability to earn a salary while founders build their business – essentially overcoming many of the barriers to entry that diverse groups often face.”
Matt Seden, Nesta’s Chief Strategy Officer, said: “At Nesta we’ve set ourselves ambitious ‘moonshot’ goals, tackling some of society’s most urgent and intractable problems through innovation… We were attracted to Founders Factory’s commitment to improving diversity in new ventures and can’t wait to unlock the power of a market-leading venture builder to bring about a healthier life and a more sustainable future for thousands – potentially millions – of people.”
The move follows Founders Factory’s recent launch of is Sustainability Seed Program aimed at creating sustainability and climate-tech startups.