PressClub United Kingdom · Article.
BMW Group launches UK Innovation Lab 2018 for automotive entrepreneurs and intrapreneurs.
Mon Sep 18 10:33:00 CEST 2017 Press Kit
• Second BMW Innovation Lab expanded to develop external startups and staff creativity.
Press Contact.
Angela Stangroom
BMW Group
Tel: +44-1252-92-1268
send an e-mail
Author.
Angela Stangroom
BMW Group
Farnborough, UK – 18 September 2017 – BMW Group UK has announced the
launch of the BMW Innovation Lab 2018. The new programme builds upon
the success of the inaugural Lab in 2016, which saw four out of five
incubated startups succeed in building ongoing relationships with the
company’s UK commercial operations.
The BMW Innovation Lab 2018 will also see the company add a new
intrapreneur programme to inspire, shape and realise innovative ideas
from the 1,300-strong workforce operating across the BMW Group’s three
commercial divisions in the UK – BMW (UK) Ltd, BMW Group Financial
Services (GB) Ltd, and business mobility solutions provider, Alphabet
(GB) Ltd. The intrapreneur programme will help staff contribute ideas
to help deliver new and improved services to customers.
The BMW Innovation Lab entrepreneur programme provides an
opportunity for early-stage start-up companies to partner with BMW
Group’s UK commercial divisions. The programme is aimed at companies
with disruptive business models or new technologies that could benefit
BMW customers. Businesses can enter any of four categories:
•
Seamless Customer Experience – how startup technology can add value to
both the online and in-person retail process.
• Enhancing
Business Processes – automating existing operations.
• Access
versus Ownership – exploring new business models to give existing and
new target customer groups greater access to mobility
solutions.
• RegTech Wildcard – new solutions focused around the
affordability, compliance and regulatory environments.
Run in partnership with L Marks, a corporate innovation
specialist and investment fund, the entrepreneur programme will see
successful startups selected to join a structured 10-week course of
activities. Participants will have access to mentorship from the BMW
Group’s UK leadership team, a collaborative working environment at the
company's UK HQ, access to vehicles and other resources, a business
education programme with links to a network of industry experts, and
access to investors and fundraising support from L Marks.
Working with TIL Ventures, a specialist at building a culture of
corporate innovation, the intrapreneur programme provides a series of
workshops and residential courses, at which initial ideas are
developed with the help of academics, business mentors and BMW’s own
leadership team. Eight successful teams will then be selected to
embark on a 12-week structured mentoring programme to complete a
comprehensive business plan describing how to turn their idea into
commercial reality.
While each programme is specific to the challenges of either
entrepreneurs or intrapreneurs, both groups will be able to share a
common work environment at BMW Group’s office campus in Farnborough
and wherever beneficial, all participants will be encouraged to
collaborate in problem solving and in sharing their experiences.
Mike Dennett, CEO at BMW Group Financial Services (GB) Ltd,
said: “The BMW Innovation Lab was designed to ensure it would have a
real and long-lasting effect on our business. By working with the
start-ups, it opened our minds to how we can be more agile, how we can
be faster to market and how we can think just that little bit
differently. Last year’s cohort is evidence of this. Four of the
businesses have a continuing commercial engagement with BMW. That’s
good for BMW but it is also a great opportunity for any start-up to
secure your first enterprise-scale relationship.
“For 2018 we wanted to improve the model further. Great ideas
exist both outside and inside the organisation. The new intrapreneur
stream added for 2018 captures the creativity inside BMW Group’s
commercial subsidiaries in the UK and provides our employees with a
programme to nurture it, helping us to better serve our customers
today and tomorrow.”
Stuart Marks, Chairman of L Marks, said: “The BMW Innovation Lab
in 2016 was a great example of the tremendous growth and scale a
business such as BMW can give to start-up businesses, and of the
exciting new solutions the start-ups can offer in turn. The successes
from last year demonstrated the immense value for all parties. We are
very excited to again be partnering in running the programme this year
on a larger scale and involving the wider BMW business.”
Milan Samani, founding partner of TIL Ventures, said: “It is
fantastic to be asked to join such a successful Lab. Building a new
programme for intrapreneurs, using our proven TIL methodology, will
activate, capture and deliver the innovative ideas which exist inside
BMW. We are also really excited to explore the impact of running the
two streams in parallel. Seeing intrapreneurs and entrepreneurs
operating in close proximity should benefit all participants.”
Applications from external entrepreneurs, startups and early
stage growth businesses to participate in the BMW Innovation Lab 2018
must be submitted through the website www.bmwinnovationlab.co.uk by 16
October 2017.
ENDS
NOTES TO EDITORS:
Comments from the participants of the BMW Innovation Lab 2016:
Tom Wood, founder of Cazana.com, said: “The BMW Innovation Lab
2016 was a great opportunity to access all areas of BMW Financial
Services, understand more about their business and how our big data
and systems could help them. It gave us insight into our customers’
requirements and a chance to develop a product that encompasses these
needs. Such insight is crucial in ensuring we can demonstrate value
and tackle pain points faced by the industry. Since the lab, we've
engaged commercially with BMW to provide our valuation insights and
are working to build a long-term legacy from the programme.”
Niall Barton, Co-founder of Wrisk, said: “We weren’t sure of
what to expect from a corporate incubator, but the BMW Innovation Lab
proved to be an incredibly valuable experience for us. It offers a
symbiotic relationship, centred around both parties providing the next
generation of innovative, efficient, and digital-first customer
experiences. The benefits are not just restricted to time spent in the
Lab. Through the strong working relationship we have formed, we are
now working with BMW to transform approaches to car insurance.”
Christer Holloman, CEO of Divido, said: “One of the greatest
difficulties of entering the market is getting through the door of a
large, global business. The BMW Innovation Lab 2017 gave us a platform
to get access to a major enterprise, as well as a chance to talk
directly to key executives to find out what they needed from us. We
were able to immerse ourselves in the automotive industry and learn
how we can work with businesses of this scale.”
Felix Leuschner, Founder and CEO of Drover, said: “Many
incubators simply offer to open doors to stakeholders, or provide a
space to develop a proof of concept to go and secure funding. The BMW
Innovation Lab is different. It offers real business outcomes. Working
at the 2016 Innovation Lab saw us meet directly with stakeholders, and
learn the concerns and needs of our customers. This means we can
tailor our offering to the market. Long term, we are excited to
continue to build on the legacy of the Lab and work with BMW on new applications.”
About BMW Group UK:
BMW (UK) Ltd.
UK sales, marketing and aftersales subsidiary of BMW AG
Established in 1980, BMW Group UK is the sales, marketing and
aftersales subsidiary of BMW AG. Headquartered in Farnborough,
Hampshire, it is responsible for importing BMW and MINI vehicles and
Motorrad motorcycles into the UK and supplying them for sale through
its independent Retailer network.
BMW Financial Services (GB) Ltd.
Headquartered in Farnborough, Hampshire BMW Financial Services
(GB) Ltd offers a range of options for financing both private and
corporate purchases of BMW and MINI vehicles and Motorrad motorcycles,
as well as a range of insurance products designed to cover car, home
and travel. BMW Financial Services (GB) Ltd also includes ALPHERA
Financial Services, which provides multi-make car finance through a
network of official dealers and broker partners. In 2016 BMW Financial
Services (GB) Ltd was awarded the ‘Investors in People’ - Gold Standard.
Alphabet (GB) Ltd.
Supporting brands such as Panasonic and McDonald’s Restaurants,
Alphabet manages a fleet of over 150,000 vehicles in the UK and almost
650,000 vehicles across 19 countries worldwide. Established in 1997,
Alphabet is Europe’s leading provider of Business Mobility services.
Innovative mobility products, like the Corporate CarSharing solution
AlphaCity, are changing the way UK businesses finance, manage and use
company cars. Another pioneering service, AlphaElectric, enables
organisations and employees to switch on to the benefits of ultra-low
and zero emission vehicles. Alphabet’s portfolio of Mobility services
comprises a comprehensive suite of vehicle funding solutions and fleet
management including: corporate and employee car schemes, commercial
vehicles, risk management, vehicle rental, accident management, fleet
management and maintenance.
L Marks
L Marks is a corporate innovation specialist and technology
investment fund. L Marks builds bridges between large corporates
seeking to innovate more quickly with young companies with disruptive
technologies, products and services. Founded by serial entrepreneur
Stuart Marks, the company has worked with some of the UK’s biggest
brands to create start-up partnership programmes that encourage innovation.
TIL Ventures
TIL Ventures creates internal venture accelerators that allow
global corporations to innovate into new and unimagined market spaces.
Their flagship accelerator, The Intrapreneur Lab, is used by 22 global
corporations including Barclays, Phillips and GSK. The Lab is run in
collaboration with business schools across the world and has incubated
80 corporate ventures, seen investments of £6.5 million and delivered
business outcomes in the tens of millions. Partners of the firm have
written papers published in journals such as Harvard Business Review
and speak at business schools across the world.
Media contact:
Rich Went
Metia
+44 (0) 20 3100 3580
Rich.Went@Metia.
The BMW Group
With its three brands BMW, MINI
and Rolls-Royce, the BMW Group is the world’s leading premium
manufacturer of automobiles and motorcycles and also provides premium
financial and mobility services. As a global company, the BMW Group
operates 31 production and assembly facilities in 14 countries and has
a global sales network in more than 140 countries.
In 2015, the BMW Group sold approximately 2.247 million cars and
nearly 137,000 motorcycles worldwide. The profit before tax for the
financial year 2015 was approximately € 9.22 billion on revenues
amounting to € 92.18 billion. As of 31 December 2015, the BMW Group
had a workforce of 122,244 employees.
The success of the BMW Group has always been based on long-term
thinking and responsible action. The company has therefore established
ecological and social sustainability throughout the value chain,
comprehensive product responsibility and a clear commitment to
conserving resources as an integral part of its strategy.
Facebook: BMW UK
Twitter: @BMW_UK
Instagram: BMWUK
LinkedIn: BMW Group UK Limited
YouTube: BMW UK
For further information please contact:
Angela Stangroom General Manager, Corporate Communications
Tel: 01252 921268
Email: angela.stangroom@bmw.co.uk