BMW Group Financial Services has launched an accelerator program meant to provide entrepreneurs, startups, and small businesses with the opportunity to partner with the captive finance company to develop new technologies, according to the company.
The accelerator program, BMW Financial Services Collaboration Lab 2018, is accepting entries in five categories: Digitizing the Customer Journey, Data Analytics and Insights, Building a Blockchain Strategy, Lease Returns and Life Cycle Management, and a Wildcard category for proposals that don't fit into the other categories.
Each category will have five finalists once the submission period has ended. Each finalists will pitch their ideas live to a panel of judges from BMW Financial Services, BMW of North America, and L Marks. One finalist from each category will then be invited to a 10-week lab at BMW Financial Services’ regional service center in Hilliard, Ohio, to further develop their ideas alongside subject matter experts in the automotive and financial sectors, according to the company.
BMW Group Financial Services will stop accepting submissions on June 17.