BMW announce final five

BMW Group 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.

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’

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.’