Eight smart city and IoT start-ups will benefit from an intensive six-week programme and expert mentoring
Infiniti Lab Toronto, a smart cities and Internet of Things (IoT) accelerator programme, will return to the Canadian city for the second year running to give aspiring tech entrepreneurs and innovators the opportunity to compete for funding.
Operated in partnership with Multiplicity, the lab is an intensive six-week programme where eight selected start-ups from the smart city and IoT industry will receive expert mentoring and access to a network of partners and investors.
Participants will have, for the first time, an opportunity to pitch to the Renault-Nissan-Mitsubishi venture capital fund, Alliance Ventures, where a share of up to $1bn is available to target new innovation for the alliance.
“Infiniti has an ambitious vision, recognising the agile nature and benefits that start-ups can bring to our organisation,” said Roland Krueger, chairman and global president of Infiniti Motor Company, the luxury brand of the automaker.
“Over the past three years we have worked with exceptional start-ups to develop pilots and partnerships that could transform our business. 2018 marks an exciting time as we strengthen our commitment and support for entrepreneurs worldwide.”
Since running last year, the lab has also gained the support of the local government and the Ontario Centre of Excellence. Promising Toronto start-up, Rover Parking, progressed from last year’s programme to the global lab at Infiniti’s headquarters in Hong Kong. This year, the same opportunity will be offered to this year’s top start-ups.
“Renault-Nissan-Mitsubishi launched Alliance Ventures earlier this year, targeting investments in technology and business model innovation in vehicle electrification, autonomous systems, car connectivity and new mobility services,” added Francois Dossa, head of Alliance Ventures.
“We’re excited to be working together with Infiniti Lab to identify new investment opportunities. Toronto is one of the leading startup ecosystems globally, and we anticipate that members of the upcoming lab programmes will be a fit with our mission to invest in innovative start-ups.”
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