BMW Group Financial Services UK has launched the third instalment of its Innovation Lab, run in collaboration with corporate innovation specialists, L Marks.

Building on the successes of the previous two iterations, which saw emerging partnerships with early-stage companies such as Wrisk and Drover, this year’s lab has evolved into a new Relay format which enables focus on individual challenges, one at a time, in three back-to-back 10-week programmes.

As part of the process, one or two startups will be selected to join the lab in a series of sprints, addressing a number of pre-defined business challenges and opportunities.

 BMW Group Financial Services UK is looking for innovative solutions that will positively disrupt the wider automotive finance industry and enhance its customer offering.

Successful startups will receive dedicated mentorship from the senior management, a collaborative working environment at the company’s UK Head Office in Farnborough, and the opportunity to test their solutions in live customer environments.

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In addition to working with a leading brand, the early-stage companies will also be provided with scale up advice from external subject matter experts.

 Applications are now open for startups which could help to reimagine product offerings, in the category: Embracing the Next Curve of Individual Premium Mobility. 

Additionally, BMW Group Financial Services UK will be searching on an ongoing basis for truly pioneering and transformative ideas as part of the ‘Wildcard’ category.

Applications for the additional categories: Fostering a Unified, Customer-Led, Internal Transformation and Automotive Mobility Data Insights, Analytics & Machine Learning will open on 6^th April 2020.