Facebook COO Sheryl Sandberg announced today that the company will be launching the “Startup Garage,” in Paris’ Station F.
The world’s largest startup campus is 366 thousand, which houses approximately 3,000 desks that can be rented for approximately €195 (or approximately $275 CAD) per month.
The Startup Garage on its own will contain approximately 80 desks and will incubate approximately 10 to 15 startups every six months. Some of the first startups to be accepted into the program include Chekk, Mapster, the Fabulous, Onecub and Karos.
Facebook will continue accepting applications for the program until February 28, though will not take any equity in the companies it chooses to participate.
This launch marks Facebook’s first startup incubator, and it’s notably not located in the United States. This move suggests that Facebook may want to which early-stage startups are worth watching.
Despite its location, the initiative is unrelated to Station F. Starting in April, Facebook will open its 80-desk space near the entrance of the facility.
[source]TechCrunch[/source]
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