PressClub United Kingdom · Article.
BMW Group UK announces chosen start-ups for Innovation Lab
Mon Feb 05 12:58:00 CET 2018 Press Release
• BMW to build on the success of its inaugural BMW Innovation Lab 2018 with five new start-ups.
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Angela Stangroom
BMW Group
Tel: +44-1252-92-1268
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Author.
Angela Stangroom
BMW Group
Farnborough, UK – 5 February 2018 – BMW Group in the
UK has announced the selection of five start-ups for the BMW
Innovation Lab 2018.
The start-ups will now undertake a 10-week residency at the Lab
to develop their applications, before pitching to senior BMW
executives on 22 March 2018. Successful start-ups will then be able to
secure ongoing relationships with the automotive firm’s UK commercial divisions.
The BMW Innovation Lab engages with technology start-ups to
develop specific solutions around BMW Group UK’s three commercial
divisions: BMW UK, BMW Financial Services and fleet manager Alphabet.
It brings outside talent and technology into the business to create
new solutions to future-proof operations or engage customers. The Lab
is also designed to assist BMW Group UK in adopting a more flexible
and disruptive culture.
Now in its second year, the inaugural Lab saw four out of five
finalist start-ups on-boarded into BMW Group UK’s commercial divisions
in 2017. The cohort included cloud-based loan servicing platform
Divido, which is now being rolled out across BMW UK’s entire network
of 150 retailers.
Building on last year’s success, 21 start-ups were shortlisted
from a total of 142 applications from 36 countries including
Singapore, Brazil and South Africa. Shortlisted firms then pitched to
the BMW Innovation Lab panel, who chose the final five who would
secure a place in the 2018 Lab. The five successful start-ups selected
for the BMW Innovation Lab 2018 are:
• Proximo.io – a location data platform that
provides better engagement and marketing opportunities to their
customers through geo-targeting
• Ocasta – a
mobile-focused development studio that provides a platform for
employee-centric communications and an operations suite
•
Overfit Technologies – an employee retention and
analytics platform which uses data mapping to help businesses make the
most out of data
• easyCar Club – peer-to-peer
car and van hire service with more than 10,000 members, it allows
vehicle owners to earn money from their car or van when they are not
using it
• DOVU – a blockchain startup operating
in the transport and mobility sector which rewards data sharing to
create a ‘circular economy’
Annina Koskiola, Co-founder and CEO of Proximi.io, said: “The
potential to use data to create geo-targeted experiences which bridge
the digital and physical worlds – from retail to construction,
entertainment to education – are endless. We are excited to explore
some of these applications with BMW for its 2018 Innovation Lab.
Working symbiotically with a large, global business is the dream for
start-ups such as ourselves. It offers us unparalleled insight into
how they operate, what pain points need to be solved and how we can
develop truly innovative solutions together.”
The BMW Innovation Lab is run in partnership with L Marks, a
corporate innovation specialist and investment fund, which will also
provide mentoring and fundraising support for the start-ups. Stuart
Marks, Chairman of L Marks, said: “The breadth and quality of
applications received from around the world for this iteration of
the
BMW Innovation Lab has made selecting just five quite tough.
However, each of the final start-ups offers something unique and
innovative to the automotive industry. The next 10 weeks will see them
embark on an exciting journey to bring their ideas to life, and see
them benefit enormously from their time in the Lab.”
The selected start-ups will now be mentored by BMW Group’s UK
leadership team in a collaborative working environment at the
company's UK HQ. They will be provided with business education
programmes, links to industry experts, and access to investors
alongside fundraising support.
Mike Dennett, CEO at BMW Group Financial Services (GB) Ltd., and
one of the architects of the BMW Innovation Lab, said: “The auto
industry will see more change in the next 10 years than it has seen in
the last 20. We need to act now and go beyond the vehicle to ensure we
deliver the best services for customers now and in the future. We’re
excited about the possibilities new technologies offer; from
geo-targeting data platforms to vehicle-sharing applications. The Lab
is an opportunity for us to engage with start-ups and incorporate
their proprietary technology into our own business, allowing us to
cater for customer needs today, while ensuring services are
future-proofed for the customer of tomorrow.”
Dennett added: “There is also a secondary goal the Innovation
Lab creates for us: building agility into our own organisation.
Innovation is just as much about the process as it is the end result,
and we have a lot to learn from start-ups’ way of thinking and
working. The inaugural Lab in 2016 went a long way to adapting our
mindset and improving our operations. We hope that through
collaboration, the Innovation Lab will continue to leave a legacy of
entrepreneurial thinking across our business.”
Ends
About 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.
About 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.
About 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.
For further information please contact:
Angela Stangroom General Manager, Corporate Communications
Tel: 01252 921268
Email: Angela.Stangroom@bmw.co.uk
Nicholas Brown (Metia)
Tel: 0203 1003673
Email: nicholas.brown@metia.com