Apple CEO Tim Cook to launch Oxford University’s first start-up hub called “The Foundry”
Tim Cook, CEO of tech giant Apple is all set to help the launch of Oxford’s first start-up hub named “The Foundry”. The hub will be devoted towards the cultivation of various startups originated by students, alumni and staff from 38 colleges of the renowned Oxford University.
According to a report by The Financial Times, Cook is on hand to ceremoniously cut the ribbon of this dedicated space for entrepreneur ambitions along with a number of tech entrepreneurs. The tastefully designed building is present at the center of the Oxford city. A former ice factory has been transformed into a contemporary entrepreneurial start-up hub with luxurious meeting rooms, free Wi-Fi and desk space for budding business teams.
According to the source this gentle cause is backed by 3.2 million pounds in gift. Also, Reid Hoffman, co-founder of LinkedIn has been honored to become the first member of this hub as he has invested 1 million pounds towards this noble effort.
The Hub has also gained funds from a charitable foundation run by Emergent Telecom Ventures founder and CEO Mohamed Amersi, Ernst & Young, data analytics firm Meltwater and China’s DeTao Education Group.
This facility has evolved after the recommendations of the advisory group including Lastminute.com co-founder and Oxford alumnus Brent Hoberman, Evernote co-founder Phil Libin and Twitter co-founder Biz Stone.
The Foundry is aimed at providing support funds, host workshops, and run competitions etc. This endeavor of Oxford will directly serviceable to 23000 students, staff, and alumni.
Not to forget Oxford has produced 177 tech startups in the past three decades, a number which ranks higher than any other UK post-secondary institution.