Verizon Joins Ford and Magna as Founding Member of Techstars Mobility, Driven by Detroit Program

As part of its continued commitment to reimagining the connected car and driving more intelligence into the transportation ecosystem, Verizon announced today that it will collaborate with Techstars, Ford and Magna International on a new initiative to support startups innovating in the automotive sector. Techstars Mobility, driven by Detroit is a technology accelerator program that will create a hub for transportation and mobility innovation in metro Detroit for ten startup companies. Participating startups will receive funding, mentorship, training and recruiting assistance from Ford, Magna International and Verizon.

Techstars Mobility, driven by Detroit is designed to help bring new technologies to market that incorporate mobile devices, wireless connectivity, and cloud computing technology to improve the ease and safety of driving. Startups and entrepreneurs from around the world can apply to participate in the accelerator, with ten companies selected to participate at a time. Selected companies will move to Detroit as part of the immersive, three-month program.

Verizon’s participation in the Techstars Mobility driven by Detroit program is a key milestone in the company’s long-standing collaboration with Techstars. Verizon Ventures has been actively involved with Techstars in other cities around the country to provide sector-specific expertise and business mentorship, and is partnering with Verizon Telematics to provide engineering brainpower for the Detroit accelerator.

“We’ve worked with Techstars on a number of initiatives over the years covering a wide range of industry sectors, technologies and market segments,” said John Doherty, Senior Vice President of Corporate Development at Verizon and Chairman and Chief Investment Officer for Verizon Ventures. “Our involvement in the Techstars Mobility driven by Detroit program underscores our continued commitment to supporting entrepreneurship by providing important resources for innovators, combined with Verizon’s expertise in telematics and related areas.”

Verizon has been committed to the telematics space for nearly two decades, delivering solutions that are helping to make transportation systems faster, smarter and greener. Verizon Telematics is a leader in implementing the next generation of connected vehicles with a portfolio of location-based, two-way wireless connectivity services for consumers, manufacturers, fleets and dealers.

“We are pleased to collaborate with Ford, Magna and Techstars to help bring this initiative to fruition and fuel innovation in telematics and the broader ecosystem,” said Tom Taylor, General Manager of Data Analytics at Verizon Telematics.

Visit Techstars Mobility Driven by Detroit to learn more.