Startups in Data, Digital journey or FinTech - BMW Financial Services want to hear from you!
by Startacus Admin
BMW Group Financial Services, a retail and commercial finance provider are currently on the hunt for early-stage startup companies to partner up with for their new UK based Innovation Lab. As Startacus is always keen to highlight fab Corporate and start-up collaboration opportunities, check out all the details below…
Designed specifically to discover new technologies, BMW Group Financial Services new BMW Innovation Lab will aim to help deliver new and improved services to its customers - the company’s initiative is the first of its kind in the automotive financial services sector.
Developed and run in partnership with our friends L Marks, a corporate innovation specialist and investment fund, the Innovation Lab has been developed to attract young data, digital journey or fintech startup companies with disruptive technologies that can be used to accelerate the development of new financial services products and bring them to market faster.
You can head straight to the BMW Innovation Lab application page here and take a couple minutes out to watch over this BMW Innovation Lab explainer video handily embedded below.
BMW Innovation Lab
A more detailed look at BMW Innovation Lab
The team are looking for applications from innovative early stage and growth companies within the following areas:
Digitising the Customer Journey
Our lives are becoming increasingly influenced by digital processes. They are looking for solutions that introduce more streamlined, intuitive online journeys with the potential to capture more of the finance supported car buying market.
Data Driven Decisions
Data is key when making decisions about a product or purchase. They are looking for solutions that improve transparency and visualisation of data, accelerating decision making for both supplier and customers.
Access to Cars
BMW Group Financial Services is interested in exploring new business of partnerships that can transform how it utilises existing vehicle fleets to enhance ownership, usage propositions and customer retention activities.
Used Cars
BMW Group Financial Services want to explore how new technologies can open up their products to the wider used car market, attracting younger customers and adding to their bottom line.
FinTech Wildcard
The way people engage with their automotive finance and insurance providers is changing. BMW Group Financial Services want to hear from the technologists and entrepreneurs who are leading this transformation.
With five selected companies taking part in the 10 week journey, successfully shortlisted startups taking part in the BMW Innovation Lab will be amongst the first to have access to the following opportunities as a result of the company’s initiative including:
- Financial product validation and testing opportunities with UK experts and customers
- Mentorship from the UK leadership team
- Access to investors at L Marks
- Access to network of industry experts
- Free office space located at the company’s head office in Farnborough, Hampshire
- A first class education programme based on the Disciplined Entrepreneurship method from the Massachusetts Institute of Technology
In addition, access to fundraising support from the L Marks investment team will be made available as well as the opportunity to pitch for investment from this fund at any point during the programme. Note - BMW Group Financial Services in the UK will not take a minimum equity stake for participation.
With applications open until midnight 31st July 2016 and with the programme running from 3rd October until 23rd December 2016 we encourage you to take a look at all the details, FAQ and criteria over at bmwinnovationlab.co.uk asap and of course apply.
Good luck to all that apply and to the five startup companies who are selected to attend the programme.
This feature was created with support from the team at L Marks innovation partners.
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Published on: 14th July 2016
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