BMW selects five start-ups to join fintech innovation lab
'Industry first' will see each business awarded dedicated office space, mentoring, product testing and access to L Marks investors
Each business will receive dedicated office space at the BMW Group Financial Services head office in Farnborough, mentoring, product validation and testing, access to investors at L Marks – partner of the Innovation Lab – and a specially designed entrepreneurship education programme.
The five finalists are:
- Divido – A Startups 100-featured fintech firm that lets consumers split the cost of a product, service, or car over a period of time
- Wrisk – Insurance that integrates motor, travel and home cover together to make it more flexible and affordable for consumers
- UKVehicle.com – A big data start-up aiming to identify every available car on the market to make car purchase safer and easier
- Drover – A car rental marketplace for use on ride-sharing platforms that connects owners and drivers of licensed cars
- Warwick Analytics – A predictive analytics tool aiming to make BMW Group Financial Services more efficient by automating data analysis
Stuart Marks, technology entrepreneur and partner of the Innovation Lab, commented: “Every start-up that attended the pitch day presented a new idea for changing automotive finance, which meant that selecting only five to participate was a difficult challenge.
“However, we’re certain we’ve selected five strong companies who will benefit tremendously from being members of the Innovation Lab – it’ll be thrilling to watch them develop over the next 10 weeks.”