Magna Calls Startups For “Driving The Future Of Mobility” Challenge

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European startups can take part in four challenges until November 19. The winners will receive 28.000 Euro total equity-free prize money, take part in a mentorship event, and get the possibility to co-develop their solutions with Magna.

Magna is a leading global automotive supplier with 327 manufacturing operations and 100 product development, engineering and sales centers in 29 countries. Over 161,000 employees are focused on delivering superior value to its customers through innovative processes. Now, European startups get their turn.

Set Innovative Industry Standards

The automotive industry experiences important advances in driver assistance, hydrogen fuel cells for electric cars and connected cars with an estimated 152 million of them roaming the streets by 2020. As a company that is seeing a significant amount of disruption in the industry, Magna aims to encourage startups and innovators from multiple industries to co-develop new industry standards.

“In partnering with StartUs Insights we see great potential to advance the scope and depth of our startup engagement in Europe,” said Ian Simmons, VP Business Development and R&D at Magna. “Our aim is to work with the brightest entrepreneurs in the industry, help them bring their ideas to market, and continue providing must-have innovations to our customers.”

Make Your Move!

Magna is the only global supplier with capabilities that span the entire vehicle. This comprehensive, 360° view reflects the challenges “Driving the Future of Mobility” offers as they involve a wide range of solutions in the automotive and mobility sector. Startups and innovators with an existing solution or technology can enter in one or more of the four challenges regardless of their industry focus, as long as their solution is applicable.

#1 Autonomy

Startups and innovators with a technology that enables self-driving vehicles can enter the competition. Solutions include but are not limited to:

  • external and internal sensors
  • on-board embedded computing solutions
  • autonomous driving SW enablers including AI solutions for perception & decision making

#2 Connected Car

Connected Car revolves around technologies facilitating a vehicle to communicate with other vehicles, transportation infrastructure, and cloud servers. Among others, this includes:

  • Energy Management
  • Smart Home services
  • Internet of Things (IoT) technologies

#3 Mobility as a Service (MaaS)

Startups on the verge of disrupting transportation business models as well as supporting technologies which do not require privately owned cars and light trucks can enter in the MaaS category. This challenge focuses on solutions that are consumed as a service, including individual mobility, goods, and fleets. Solutions include but are not limited to:

  • ride-hailing
  • delivery services
  • carpooling

#4 Mobility Solutions

Solutions and technologies related to current mobility challenges are taken up in this challenge. Services should offer improved quality, timing or cost of a mobility experience, some of which include:

  • car services (car sharing, parking & charging, automated driving)
  • car ownership (finance, maintenance, connected services)
  • macroeconomic aspects (city planners, energy storage, journey planning)

Mentorship Event In December 2017

The challenges will result in four winners, who have the opportunity to attend a mentorship event with Magna along with a total of 28.000 Euro in equity-free prize money. The mentorship event held on December 12 will be held in Munich, Germany and is led by Ian Simmons, VP Business Development and R&D. Additionally, all winners are in for a chance to further work with the industry leader to co-develop their product or solution.

Starting now, startups can apply for one or more challenge of Driving the Future of Mobility until November 19 (23:59 CET) using separate application forms. The four winning teams will be announced late November 2017.

To realize the startup challenge Magna partnered with StartUs Insights, part of Europe’s leading startup & innovation network. For the partnership, StartUs Insights builds and executes Magna’s European startup-driven innovation pipeline.

Update: To further foster the collaboration with disruptive startups in Europe, Magna keeps all communication channels open and encourages startups who are interested in a potential partnership with Magna to reach out via the “Leading Mobility” program. Innovative startups with solutions that can be applied in the automotive and mobility industries can now get in touch!

 

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