Porsche Targets Fintech, Mobility Startups for New Accelerator | Auto Finance News

Porsche Targets Fintech, Mobility Startups for New Accelerator

Photo via Porsche Press

Porsche Digital, in partnership with Axel Springer Digital Ventures, will launch an accelerator in spring 2018 to support business ideas that have a high-market potential, which include fintech and mobility, Auto Finance News has learned.

Porsche Digital is a wholly owned subsidiary of Porsche AG and serves as its digital mobility center. The unnamed accelerator, based in Berlin, is particularly focused on cross-industry topics and ventures, a Porsche spokeswoman said.

Details will be released soon regarding which areas of fintech the accelerator will focus on, and how many startups will be accepted into the incubator, she added.

Aside from financial support, the accelerator will offer mentorship from Axel Springer and Porsche staff, with a high potential for ongoing relationships with the automaker.

“Our aim is to work closely with company founders to get digital innovations up and running together as fast as possible,” Thilo Koslowski, Porsche Digital’s managing director, said in a statement.

Porsche — which is owned by Volkswagen AG — also recently launched a car subscription service, and in April, the automaker announced a competition for startups looking to explore blockchain technology.


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