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Uber car leasing startup Drover selected for inaugural BWW Innovation Lab

London-based startup Drover has been selected along with four other UK firms to join the inaugural BMW Innovation Lab accelerator.

The programme, which is being run in conjunction with L Marks, looks to support early-stage companies who can provide new and improved services to BMW’s customers through technological innovations.

In particular, the accelerator is focused on supporting and commercialising products from young companies within FinTech and those with innovations in financial services with a view to bringing them to market quicker.

Following a pitching day on 12 September to a panel of BMW Group Financial Services representatives, the five participating startups who will be joining the programme at its Farnborough base from 3 October have been revealed.

The list includes:

• Drover: a car marketplace putting car owners in touch with drivers that is aimed at the private hire market, allowing individuals to make money driving for Uber without owning a car.
• Divido: finance company that provides interest free payments while still paying merchants in full.
• UKVehicle.com: Berkshire-based startup that provides information about every car on the UK’s roads.
• Wrisk: all-in-one insurance provider that combines life, home and motor cover into one package.
• Warwick Analytics: predictive analytics business developed out of Warwick University that will work on automating BMW’s data analysis efforts.

The programme is set to run for 10 weeks with startups benefiting from ‘unprecedented’ access to advice and expertise at BMW Group Financial Services.

Commenting when the programme was initially announced in late August, Mike Dennett, Chief Executive Officer at BMW Group Financial Services, UK, said the programme would help the car maker get ‘a different perspective’ on its business and generate new ideas ‘more quickly’.

He added: “It is a very different approach and one which will allow us to explore customer-focused initiatives from young, energetic and talented small companies while at the same time offering them the chance to gain exposure to a range of experienced mentors and potential investors.”

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