Five, Facebook's bet to promote Spanish startups - Start Up Gazzete
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Five, Facebook’s bet to promote Spanish startups


Facebook, always involved in controversy, is in the news this time for an initiative focused on the flowering of the Spanish innovative and business fabric, although always under the aegis of the giant, of course. It is Five, acronym for Facebook-Investors-Venture Capital-Entrepreneurs, a program aimed at fostering the growth and consolidation of Spanish startups and favoring their escalation within the platforms of the Silicon Valley colossus.

The program, whose launch was made public on June 30, has two aspects: one focused on providing training to small technology companies that are taking their first steps; and another in which more advanced advice will be provided to those more mature companies that are ready to move to the next level.

New seeds for the Facebook garden

Mark Zuckerberg’s macro-company has prepared a whole compendium of online seminars and strategic lessons for those startups that are still in the initial phase, so that their acclimatization to the different ecosystems and social networks with the Facebook seal is easier, faster and more beneficial for both parties.

First-time companies will also be taught in more general concepts such as business planning, talent management, technological tools and good practices, according to the giant.


The 30 chosen

Facebook will also choose some thirty startups among those that are in a more advanced phase – which will obtain the name ‘Five Scale’ -, to which it will give more specific support to propel them towards the next phase: that of international expansion at scale. massive.

In this case, the firms will receive patronage and preparation aimed at achieving high-level strategic objectives, within the ‘Five Growth’ program. Professionals from the social network will give personalized support to startups and advanced training on the situation and perspectives of the industry, as well as ways to optimize the performance and efficiency of their services.

The Five initiative will partner with venture capital investment funds to contribute to the acceleration of both incipient firms and these already ‘mature’ startups.

Facebook has unveiled Five a day after the High Commissioner for Spain Entrepreneurial Nation, Francisco Polo, announced at the Mobile World Congress in Barcelona that the Government will invest in the strategic plan that directs 4,500 million euros over the next four years.

Author avatar
Joshua Smith

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