Billionaire Chamath Palihapitiya is launching an incubator for enterprise software startups

The incubator called 8090 is designed to assist enterprise software startups in launching their ventures.

Billionaire Chamath Palihapitiya is launching an incubator for enterprise software startups

Friday January 12, 2024,

1 min Read

Billionaire and Silicon Valley investor Chamath Palihapitiya is launching 8090, a fully-funded incubator to support enterprise software startups.

"Tell us what enterprise software you use and my team and I will build you an 80% feature complete version at a 90% discount," Palihapitiya said in a post on X (formerly Twitter).

8090 incubator will use artificial intelligence (AI) and offshoring to keep costs down and development times short, the prominent investor said.

Palihapitiya, a Sri Lankan-born Canadian and American venture capitalist, engineer, and SPAC sponsor, is the Founder and CEO of venture capital firm Social Capital. Started in 2011, the VC firm has invested in climate science, life sciences, and biotechnology, and decentralised the digital economy.

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In 2015, Social Capital became a leading investor in a funding round for productivity platform Slack Technologies. Palihapitiya resigned from the board of directors of Slack in December 2019 for reasons unclear.

Social Capital was in the news late last year when a report in The Information said that the firm tried to sell stake worth $312 million in hundreds of startups.