Jaguar Land Rover’s venture arm is launching a new accelerator targeting startups in the mobility and transportation space — part of its wider bid to avoid innovator’s dilemma.
The rolling six-month InMotion Accelerator programme will offer funding for up to 15 startups across two cohorts per year.
Specifically, applications are being sought from startups developing mobility products and services, as well as companies developing the tech and supply chain elements that power those products and services.
Applicants can come from anywhere in the world. The first cohort, to be based in London, kicks off this April.
Noteworthy is that startups joining the InMotion Accelerator will receive “bespoke” investment in exchange for equity. In other words, this isn’t a one-size-fits-all accelerator programme. The idea is to allow funding to be determined “according to the needs of each venture”.
“InMotion Ventures works collaboratively with its startups to provide the right amount of funding, with the right terms, on a case by case basis,” says Jaguar Land Rover’s venture arm.
In addition to funding, startups enrolled in the programme will receive office space, mentoring from successful startup founders, support from InMotion Ventures’ in-house finance, operations, marketing, design and development teams, access to Jaguar Land Rover’s network, and more.
In a statement, James Nettleton, Head of Accelerator at InMotion Ventures, says: “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’ve designed a programme to help them do just that.”
Sebastian Peck, Managing Director at InMotion Ventures, adds: “We’re 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.”