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Magna has announced a partnership with StartUs Insights with the aim of creating deeper connections with the start-up community in Europe.
Working with automotive supplier Magna, StartUs Insights will leverage its database containing over 100,000 start-ups, its network in Europe and a variety of communications channels to scout potential technologies, assess the market with performance metrics, and promote Magna to start-ups.
Kicking off the partnership is the Driving the Future of Mobility challenge, a competition for start-ups and innovators in the transportation industry. Across four challenges, finalists will compete for €28,000 in prize money as well as the potential to continue working with Magna.
“In partnering with StartUs Insights we see great potential to advance the scope and depth of our start-up engagement in Europe,” says Ian Simmons, VP Business Development and R&D at Magna. “Our aim is to work with the brightest entrepreneurs in the industry, help them bring their ideas to market, and continue providing must-have innovations to our customers.”
“We are excited to partner with Magna as their commitment and ongoing work in this crucial and growing sector deeply impacts the European mobility scene,” adds David R. Prasser, CEO at StartUs Insights. “Our mutual goal is to ensure a good, competitive future for this sector, fostering the technologies start-ups are actively working on.”
“Magna’s acknowledgment of start-ups at the forefront of digitalisation and creative disruption is a sign that these companies are the future of the industry and a viable partner to learn from,” he adds.
According to Magna, collaboration with disruptive start-ups provides it with a strong competitive advantage, especially in sectors such as e-mobility, autonomous driving, sensor technology and additive manufacturing.
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