Ford Backs Techstars Mobility Contest to Give Helping Hand to Mobility Startups

In a bid to transform mobility in the future, Ford has backed Techstars Mobility contest to give a helping hand to mobility startups. According to the terms of the contest, startups can submit their applications within a deadline of March 22. Up to 12 startups will get USD 120,000 funding and three months of development training to come up with ideas and solutions that are aligned with Ford Smart Mobility, Ford’s visionary plan to take it into the 21st century by setting new benchmarks in mobility, autonomous vehicles, connectivity, data, analytics and the customer experience.

Ken Washington, Ford vice president, Research and Advanced Engineering said, “Working together, Techstars Mobility and Ford are supporting smart, ambitious inventors who are creating innovative solutions to change the way the world moves.” He added that startups today display a flair for innovation and the contest will bring this type of new thinking to Detroit and the auto industry.”

The selected startups will be asked to focus on innovations in the areas of customer experience, multimodal trip integration, information technology and data analytics and flexible ownership and user experience

The training will begin on June 13 and the project is scheduled to end on September 8.

Techstars Mobility is essentially a mentorship-driven accelerator program that was launched last year with an emphasis on imaginative transport solutions and next-generation mobility and transportation solutions. It is a part of the Techstars global program, which was launched in 2007 and provided assistance to 660 companies that have raised $5 billion.

Techstars Mobility tied up with Ford Smart Mobility as a direct outcome of Ford Executive Chairman Bill Ford’s drive to develop a solution to the growing rates of traffic gridlock on a global basis.

Many other well known corporations like Michelin, Verizon, Honda, Dana and Magna International, are part of the Techstars Mobility initiative, contributing both mentorship and program funding.

The discoveries of the 2015 class included 10 startups, which have cumulatively raised over USD 3 million and includes companies like Cosmos and Elegus Technologies which have already made a mark in metro Detroit with their innovations.

“The first year exceeded all expectations, with 10 amazing companies, a worldwide response, more than 300 participating mentors across Detroit and eight active corporate entities,” said Ted Serbinski, managing director, Techstars Mobility. “This was all brought together by the automotive dominance and entrepreneurial resurgence in Detroit. We’re excited to grow this program in 2016 and beyond.”