Launch48, which runs events around the world in which technology enthusiasts collaborate to create a new web or mobile business in just 48 hours, has been purchased today by Oxygen Enterprise Partners Ltd, which runs Oxygen Accelerator at Birmingham Science Park.
The acquisition aims to build on the success of Launch48 which, since its formation four years ago, has seen over 3,000 participants in the early stages of their technology careers take their first steps in the industry.
Many of these have gone on to run acclaimed tech businesses of their own, such as the founders of vouchacha.com and Nick Holzherr (finalist on BBC1’s The Apprentice this year) and Craig Edmunds from Whisk.
Two full-time employees will be appointed immediately to provide a dedicated infrastructure to Launch48, with the aspiration to run at least 12 events, including the successful Inspire Conference, in the UK and across Europe over the next calendar year.
Previous co-founders Adil Mohammed and Ian Broom will become non-executive directors at Launch48. Reshma Sohoni (Seedcamp), Hugh Chappell (previously of TrustedReviews.com, which was sold to Time Warner/IPC Media) and Julian Ranger (CEO of DADapp and chairman of SocialSafe) will remain as NEDs.
Mark Hales, director of Oxygen Enterprise Partners Ltd, said: “My work with Oxygen Accelerator has shown me just how essential programmes like Launch48 are to support the earliest stages of technology entrepreneurship.
“It gives new entrants to the industry the opportunity to take their sparks of an idea further, meet potential co-founders, or inspiring the confidence to apply for one of the many formal incubation or accelerator programmes such as Oxygen Accelerator, Springboard or Seedcamp.
“Our acquisition of Launch48 will help it to grow and flourish. Galvanising relationships with the commercial partners which have helped both financially and with mentoring support for the Launch48 events will be an important objective for us.”
To find out more or to register your interest in a future Launch48 event, log onto www.launch48.com.