Oxford Foundry grants £120,000 to startups aiding economic recovery
- Monday, June 15th, 2020
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The Oxford Foundry, an entrepreneurship center, has pledged it will give £120,000 to startups whose mission is to help stimulate the UK’s economic recovery in the aftermath of Covid-19. A group of well-known investors and entrepreneurs have already chosen the four winning solutions to receive £10,000 through the Covid-19 Startup Grant Runway Fund.
The leading startups were additionally chosen for the OXFO Covid-19 Rapid Solutions Builder, a program created to help expedite the progress of technology that will boost the economy. These solutions include saliva Covid-19 test My110, location data sharing solution Oblivious AI, AI-powered parenting coaching app Devie, and crowd tracking app Crowdless. Other ventures in the Oxford Foundry’s portfolio are also eligible for a £5,000 grant upon application review.
“It’s entrepreneurs who are creating the next big innovations to address the challenges arising from Covid-19, and they’re creating new jobs in the process, boosting the post-pandemic economic recovery,” said Ana Bakshi, Director of the Oxford Foundry.
“Universities are home to incredible innovation and talent, and it’s critical that this is mobilised and leveraged. The Runway Fund provides crucial funding to ensure these startups can scale and have a greater positive impact on society. The ventures in our portfolio are already helping hospitals, care homes, parents, schools and many other sectors hit hard by coronavirus. Thank you to everyone who has donated so far,” finished Bakshi.