Jaguar Land Rover Launches Fund, Accelerator for Mobility, Transportation Startups
British Automotive company, Jaguar Land Rover has rolled out an accelerator programme, InMotion Accelerator to offer funding for up to 15 mobility and transportation startups across the world.
The programme which will run for six months seeks applications from developing mobility products and services, as well as companies developing the tech and supply chain elements that power those products and services.
According to a statement from James Nettleton, Head of Accelerator at InMotion Ventures, the progrmme will be open to all startups from across the world and the first batch, to be based in London kicks off in April.
“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,” part the statement reads.
In East Africa, some of the transportation startups include; Little Cab from Kenya, Safe boda from Uganda among others.
Uganda’s Safe Boda currently has revolutionized the taxi industry in the country, offering 20,000 safe rides a day and expanding by 30-40 percent each month.
Startups joining the InMotion Accelerator will receive modified investment in exchange for equity. The funding provided will be determined according to the needs of each startup venture contrary to the ordinary “One size fits all.”
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.
