Magna Joins Mobility Tech Accelerator

Magna International Inc. has joined RocketSpace Inc.’s new Mobility Tech Accelerator Program that aims to spur innovation by connecting startup companies with corporate partners.

The initial focus of the automotive program, which was founded by oil and gas giant BP plc, will be on electric vehicle systems, automated driver assist technologies and secure vehicle connectivity. Other corporate partners include Allstate, Avis, IBM and Volkswagen.

San Francisco-based RocketSpace says it has worked with more than 1,000 start-up companies and 170 corporate partners on previous programs for other industries. Eleven startup companies have been approved for the first round of the Mobility program. To be eligible, participants must already have some seed funding for an existing product or service or one they are about to launch.

The service helps startups validate new technologies, provides business support and connects them to potential investors. Click here for more information about RocketSpace.