UK-based car manufacturer Jaguar Land Rover (JLR) has launched a six-month accelerator initiative through its corporate venturing arm, InMotion Ventures, TechCrunch reported on Monday.
InMotion Accelerator will focus on startups developing mobility products and services as well as companies working on technology for the mobility sector supply chain.
The first batch of startups will be welcomed in April 2017 and will be based in London, but applications are open to startups from across the world. InMotion will make an equity investment in participating startups based on the individual needs of each business, rather than offering a fixed sum.
The companies will also have access to office space and Jaguar Land Rover’s network, and will receive mentoring from startup founders and support from InMotion’s in-house teams.
James Nettleton, head of InMotion’s’ accelerator, said: “New technologies and consumer needs are transforming the way we move. This rapid change creates a unique opportunity for startups to build hugely valuable businesses, and we have designed a program to help them do just that.”
Sebastian Peck, managing director of InMotion Ventures, added: “We are looking to match world class mobility and transportation startups, to our dedicated team of entrepreneurs, designers and technologists – all experts in mobility and eager to work tirelessly to support growth.”