BMW Group UK, the UK subsidiary of car manufacturer BMW, launched the 2018 edition of its BMW Innovation Lab incubator on Monday.
The incubator will look at startups aligned with one of BMW Group UK’s four strategic goals: improving customer experience, automated operations, expanded access to BMW products and a wildcat category for ideas involving affordability, compliance and regulations.
Participants will undertake a 10-week mentoring program run in partnership with innovation-focused venture capital fund L Marks, which will provide fundraising support. BMW Group UK’s leadership team will offer the startups advice and access to potential investors.
BMW is also searching for an “intrapreneur” from within the company who can display novel business approaches. Teams of employees will participate in a 12-week workshop run by VC consultancy TIL Ventures designed to encourage fresh ideas and support commercialisation.