INFINITI LAB, in partnership with Multiplicity, is returning to Toronto this May with applications first opening on Thursday, April 26.
For the first time, LAB participants will have the opportunity to pitch to the Renault-Nissan-Mitsubishi venture capital fund, Alliance Ventures.
INFINITI LAB Toronto will run for the second time after last year’s successful accelerator program, gaining the support of the local government and the Ontario Centre of Excellence.
“INFINITI has an ambitious vision, recognizing the agile nature and benefits that startups can bring to our organization,” said Roland Krueger, Chairman and Global President of INFINITI. “Over the past three years we have worked with exceptional startups 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.”
The Renault-Nissan-Mitsubishi Alliance Ventures capital fund, of up to $1 billion USD, was launched to target new innovation for the Alliance.
“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 programs will be a fit with our mission to invest in innovative startups,”
INFINITI LAB Toronto is an intensive six-week program where eight selected startups in the Smart Cities and Internet of Things (IoT) industry will receive expert mentoring and access to an unrivaled network of partners and investors. Promising Toronto startup, Rover Parking, progressed from last year’s program to the global LAB at INFINITI’s headquarters in Hong Kong. This year, the same opportunity will be offered to Toronto LAB’s top startups.
“INFINITI Canada is committed to supporting homegrown entrepreneurs and open innovation. The program enables us to access new ways of thinking and support the local ecosystem with an opportunity to scale globally,” said Adam Paterson, Managing Director, INFINITI Canada.
2018 marks the third year of operations for INFINITI LAB, which has seen successful partnerships come to life with augmented and virtual reality developers, Visionaries 777, enhancing INFINITI showrooms, and an on-going pilot with real-time routing and fleet management experts, Pantonium, a native Toronto startup.