As the auto industry transforms, Magna’s commitment to innovation and collaboration with the startup ecosystem continues to gain momentum. In its latest activities, Magna has partnered with StartUs Insights to help create more and deeper connections with the startup community in Europe.
StartUs Insights is an innovation network that connects the European startup community and makes it accessible to its partners. The company uses networking and intelligent algorithms to closely monitor Europe for startup companies.
Working together with Magna, StartUs Insights will leverage its growing data base containing over one hundred thousand startups, its extensive network in Europe and a variety of communications channels to scout potential technologies, assess the market with performance metrics, and promote Magna to startups.
In addition, kicking off the partnership is the Driving the Future of Mobility challenge, a competition for startups and innovators shaping the transportation industry. Across four unique 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 startup engagement in Europe,” said 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, founder & CEO at StartUs Insights. “Our mutual goal is to ensure a good, competitive future for this sector, fostering the technologies startups are actively working on.”
“Magna’s acknowledgment of startups at the forefront of digitalization and creative disruption is a sign that these companies are the future of the industry and a viable partner to learn from,” adds Prasser.
Collaboration with disruptive startups is a key objective in Magna’s open for business approach. It provides the company with a strong competitive advantage, especially in sectors such as e-mobility, autonomous driving, sensor technology and additive manufacturing.