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iLabX global innovation program for technology entrepreneurs

iLabX global innovation program

WHAT INFO DO I NEED TO PROVIDE IN MY APPLICATION?
We ask you for information about you, your product or service, your team and your company. Don’t hold back, let us know how great you are!

I DON’T LIVE IN THE USA, CAN I APPLY?
Of course! The best innovators can come from anywhere.

IS ILABX BY VFS LIKE OTHER ACCELERATORS?
We believe we are different. We’ll provide your business with opportunities to:

Trial your product with VFS
Receive mentoring from Senior Volvo Executives
Gain insights from subject matter experts through a top-notch education program

WHAT IS THE PROCESS?
The program has 4 stages:

1. Apply
2. Pitch
3. Program
4. Demo

See our timeline for more info.

WHERE WILL THE MENTORS COME FROM?
Mentors will include senior executives from Volvo Financial Services, experts within the wider Volvo business, entrepreneurs and external subject matter experts. A full list of mentors will be announced in due course.

WHAT DOES THE DAY-TO-DAY LOOK LIKE AT ILABX BY VFS?
iLabX by Volvo Financial Services’ itinerary is designed to help you create game-changing products. You’ll accelerate your working to rapidly develop your product, receiving essential guidance on key decisions speedily, from your mentors. Each startup’s experience on the program will be unique – we tailor the mentoring and education programs to meet your business’s specific needs.

WHEN WILL I RECEIVE INVESTMENT FROM VFS AND L MARKS?
Investment decisions will be finalized at the end of the program, i.e. after the 10 weeks Lab is completed. Volvo Financial Services and L Marks may invest together, or separately, or not at all.

WILL VFS AND L MARKS INVEST IN EVERY COMPANY THAT JOINS THE PROGRAM?
We will decide which startups we invest in at the end of the program, i.e. after the 10 weeks Lab is completed.

Sponsor Comments

From Allen Atchley, VP of Strategy and Innovation and Head of iLabX for VFS, ”Startups can gain access to VFS’ global scale and customer and dealer insights in order to help them grow their businesses. It is also a good way for startups to work with some of the most powerful brands in the commercial transport industry. They will not only share with VFS how they can innovate and drive speed, but also learn from an organization that is well established and can provide them access to the marketplace.”

VFS and L Marks will also provide fundraising support.

Daniel Saunders, CEO of L Marks says, “L Marks is thrilled to be launching its inaugural program with VFS. We have a strong history of supporting the growth of fintech and mobility sector startups and developing or enhancing their products in partnership with our clients and we’re excited to see how VFS can engage with the startup ecosystem through the VFS iLabX.”

Check out the full program website at VFSiLabX.com.

The post Startup Opportunity: Volvo iLabX Accelerator – Capital and Mentors appeared first on The Startup Magazine.

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