16th January 2020
BMW Group Financial Services UK Launches Its
Third Startup Collaboration Programme
Building on previous successes, the third Innovation Lab will run in an innovative Relay format.
BMW Group Financial Services UK has launched the third instalment of its Innovation Lab, run in collaboration with corporate innovation specialists, L Marks. Building on the successes of the previous two iterations, which saw emerging partnerships with early-stage companies such as Wrisk and Drover, this year’s lab has evolved into a new Relay format which enables focus on individual challenges, one at a time, in three back-to-back 10-week programmes. As part of the process, one or two startups will be selected to join the lab in a series of sprints, addressing a number of pre-defined business challenges and opportunities.
BMW Group Financial Services UK is looking for innovative solutions that will positively disrupt the wider automotive finance industry and enhance its customer offering. Successful startups will receive dedicated mentorship from the senior management, a collaborative working environment at the company's UK Head Office in Farnborough, and the opportunity to test their solutions in live customer environments. In addition to working with a leading brand, the early-stage companies will also be provided with scale up advice from external subject matter experts.
Applications are now open for startups which could help to reimagine product offerings, in the category: Embracing the Next Curve of Individual Premium Mobility. Additionally, BMW Group Financial Services UK will be searching on an ongoing basis for truly pioneering and transformative ideas as part of the ‘Wildcard’ category.
Applications for the additional categories: Fostering a Unified, Customer-Led, Internal Transformation and Automotive Mobility Data Insights, Analytics & Machine Learning will open on 6th April 2020.
Further information on BMW Innovation Lab and how to apply can be found on the website: www.bmwinnovationlab.co.uk. Applications close at 23:59 GMT on Sunday, 9th February.
Notes to editors:
For additional press information or images, please contact:
Venetia Hulse, Programme Manager, L Marks
Gerry Kouris, Marketing, BMW Financial Services (GB) Ltd.
About BMW Financial Services (GB) Ltd. Headquartered in Farnborough, Hampshire BMW Financial Services (GB) Ltd. (“BMW Group Financial Services UK”) offers a range of options for financing both private and corporate purchases of BMW and MINI vehicles and Motorrad motorcycles, as well as a range of insurance products designed to cover car, home and travel. BMW Group Financial Services UK also includes ALPHERA Financial Services, which provides multi-make car finance through a network of official dealers and broker partners. In 2016 BMW Group Financial Services UK was awarded the ‘Investors in People’ - Gold Standard which has been recently renewed and extended until 2021 including Health and Wellbeing.
About L Marks: L Marks are agents of change – transforming world-leading organisations through integrating pioneering technologies and inspiring an entrepreneurial ethos. Founded with a mission to create purposeful change and with an appreciation that collaboration is the accelerant for authentic transformation, L Marks is the engine powering innovation programmes across various sectors and has launched over 60 initiatives across the UK, Europe, Israel, Asia, and the US.
Working with partners that include BMW Group Financial Services UK, Lloyd’s of London, and Arsenal FC, L Marks has created the UK’s largest network of corporate accelerators and is now recognised as a leader in business change. L Marks collaboration programmes establish innovation as a key characteristic of their partners’ businesses, driving a dynamic culture and, ultimately, fuelling growth.
Through creating these relationships and experiences, L Marks is achieving rapid transformation across industries and accelerating the businesses of the future.