Ford Invests in Techstars Mobility, driven by Detroit Business Incubator
As a part of Ford’s continued efforts to be at the forefront of new innovations, the automaker is teaming with Techstars to create the Techstars Mobility, driven by Detroit business incubator. Yes, Techstars Mobility, driven by Detroit is the full name.
The incubator will initially support 10 startups, all of which are selected by its stakeholders. The chosen startup companies will receive $120,000 in angel funding and three-month courses in the disciplines of business development, customer acquisition/retention, and executive recruitment practices.
Techstars Mobility, driven by Detroit is expected to run for three years, in which time the intention is to nurture as many as 30 startup companies.
“As society faces the increasing challenges of traffic congestion, crowded cities and poor infrastructure, we must reinvent the way we live and do business if we want to make a positive impact on future generations,” said Ford Executive Chairman Bill Ford. “We’re seeing some of the most exciting consumer products and services on the market today coming from innovative startup companies. It will be great to be part of bringing that type of new thinking to Detroit and the automotive industry.”
Stakeholders in Techstars Mobility, driven by Detroit include Fontinalis Partners, Detroit Venture Partners, and Renaissance Venture Capital Fund. Chris Rizik, CEO of the latter, says that the business incubator is an investment that will help establish Michigan as an epicent3er for innovation.
More information—as well as information on how to apply for the program—can be found at http://www.techstars.com/program/locations/mobility/. The deadline for winter applications is set for March 15th, 2015.