BMW joins the startup revolution
(4 July 2016 – United Kingdom) BMW Financial Services is setting up an innovation lab and accelerator programme to find startups that can bring fresh perspectives to vehicle financing and insurance.
The programme will be run in partnership with corporate innovation firm and investment fund L Marks.
BMW says it wants to attract young companies with disruptive technologies that can be used to speed up development of new financial services products and bring them to market faster.
The lab will "allow us to explore customer-focussed initiative from young, energetic and talented small companies, while at the same time offering them the chance to gain exposure to a range of experienced mentors and potential investors,” Mike Dennett, CEO, BMW Group Financial Services UK said.
Chairman of L Marks, Stuart Marks, said: “Innovation Lab is an unprecedented opportunity for promising startups to get access to a leading provider of automotive finance and insurance products and solutions, BMW Group Financial Services in the UK.
“By opening their doors to start-ups, BMW Group Financial Services will be getting access to new ideas and ways of working that will have a real impact on their business."
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