UK company acquires start-up hackathon programme Launch48
Launch48, the UK initiative that runs start-up events across the globe so that tech enthusiasts can collaborate to create a new web or mobile business in fewer than 48 hours, has been acquired by Oxygen Enterprise Partners, which also runs a start-up accelerator at Birmingham Science Park Aston in the UK.
Since it came onto the scene four years ago, Launch48 has engaged more than 3,000 participants in various weekend events, which take on the same kind of format as Startup Weekend.
The idea of the weekend Launch48 events is to pool people together from a range of backgrounds and with different skill sets to build web businesses in less than 48 hours.
Many such participants have gone on to run tech businesses of their own – think the founders of the start-up Youchacha.com to enable retailers offer targeted discounts, and Craig Edmunds from Whisk.co.uk, the home-cooking start-up that's launching soon.
According to Oxygen Enterprise Partners, two full-time employees will be appointed as of now to provide a dedicated infrastructure to Launch48. The company said the aim will be to run at least 12 events 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. Meanwhile, Reshma Sohoni of 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 on as non-executive directors at Launch48.
"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," said Mark Hales, director of Oxygen Enterprise Partners.
A Launch48 start-up hackathon took place in Sydney recently.
Digital start-up image via Shutterstock