BMW Startup Garage sets out to tap the potential of innovative startups.
The newly founded BMW Startup Garage sets out to tap directly into the potential of particularly innovative startups. With the BMW Startup Garage, the BMW Group is continuing its successful collaboration with startup companies.In addition to the BMW Startup Garage, the venture capital company BMW i Ventures also fosters the exchange with young enterprises developing innovative solutions for urban mobility.
The BMW Group has, moreover, joined forces with the Centre for Innovation and Business Creation – UnternehmerTUM – at Munich’s Technical University in order to set up the “TEchFounders” accelerator programme for technology startups. The Accelerator Programme introduces the BMW Group to innovative technologies, products and services at a very early stage, with the option of working together with the startup teams.
With its slimmed-down, efficient processes, the BMW Startup Garage now allows for swift and flexible collaborative projects. That way more startups can be identified and integrated more rapidly. Any interested startup companies can apply online to the BMW Startup Garage. The selection is then made directly via the BMW Startup Garage in close consultation with the innovation management team and the relevant departments of the BMW Group.
“In principle, any startup anywhere in the world can apply. And the scheme is not restricted to companies in the automotive sector, but extends to technologies that can be transferred to automotive engineering applications. However, applicants must meet a number of requirements as well: We’re looking for good startups and not good inventors. Anyone thinking of applying needs to bring along not just a great idea but a great team as well. After all, only a top-flight team can make ideas work successfully”, says innovation manager of BMW Startup Garage, Matthias Meyer.