500 Startups, a Silicon-Valley-based early stage venture capital firm, is launching a studio that aims to create tech startup from the beginning.
Led by Selcuk Atli (a Venture Partner at 500 Startups) and Dominic Coryell (a Distro Partner at 500 Startups), 500 Labs wants to bring together engineers, designers and marketers from all over the world to create and grow startups from scratch by leveraging 500 Startups’ strengths in marketing, recruitment and growth.
It will pick and experiment with a few projects at a time. Once a project starts experiencing exponential growth, the studio will spin out the company with the team who built it and continue to support the company as hands-on co-founders. 500 Labs, which will invest in these companies, alongside other investors in its network, will initially focus on building mobile products for consumers and businesses. In the future, it expects to launch new tracks in areas like marketplaces and SaaS.
Headquartered in Silicon Valley, the studio will initially set up engineering operations in Toronto and Waterloo with plans to expand into many other regions around the world. It is hiring hackers, engineers and designers who will work on various product experiments, and eventually become part of the founding teams of its new companies. Read here to apply.