UK-listed oil major BP’s Castrol division has picked peer-to-peer car sharing network WhipCar as winner of its inaugural 20/20 Challenge. Chosen from a shortlist of five companies out of 500 applicants, WhipCar will receive a $10,000 business development grant, as well as the potential of a longer-term partnership with Castrol.
Roy Williamson, head of Castrol InnoVentures, said: "The judging panel felt that WhipCar’s use of a flexible direct-to-peer car share concept was something that Castrol is well placed to bring to life."
WhipCar founders Tom Wright and Vinay Gupta said: "We came here looking for strategic partnerships, so we can’t wait to sit down with Castrol to talk about the ways we can work together."
In addition to the overall winner, Fluitec Wind scooped the ‘People’s Choice’ award voted for by Castrol employees.
The 20/20 Challenge run by Castrol’s InnoVentures corporate venturing unit continues on 10 and 11 July with an event in Shanghai, China.