Publishing firm Georg von Holtzbrinck has invested an undisclosed sum in UK-based incubator and accelerator Founders Factory.
Launched last year, Founders Factory is looking to develop a European startup ecosystem that is supported by corporate partners on the lookout for access to new technologies.
Founders Factory has elected to initially focus on education technology, before branching out into retail, media, telecommunications, financial technology and consumer goods.
Holtzbrinck also plans to transfer some of the assets owned by its Digital Education division, including online tutoring services EnglishUp and Maths Doctor, into Founders Factory to help make up the firm’s first cohort.
Stefan von Holtzbrinck, chief executive of Holtzbrinck, said: “We have never been afraid to try new things. Our diverse, global businesses aim to push the frontiers of learning and discovery by providing the best content and most innovative technology solutions to students, teachers, researchers and parents.
“The approach being taken by Founders Factory offers a very interesting and unique way to support and test a novel model in incubation and acceleration and we look forward to working with our new partners there.”