MG Motor India to provide mentorship, funding to mobility startups & innovators
Earlier, MG Motors India supported five startups as part of its innovation program.
As part of the grant, MG Motor India will provide mentorship and funding from industry leaders to the innovators The shortlisted innovators and startups will receive specialized, high-level mentoring and networking opportunities and assistance with solution, business plan and modelling, testing facilities, go-to-market strategy, etc. They will also rewarded a grant the amount of which will be decided by the jury, on a case-to-case basis.
The Grant will initially focus on driving innovation in the following verticals: Electric Vehicles and Components, Batteries and Management, Charging Infrastructure, Connected Mobility, Voice Recognition, AI & ML, Navigation Technologies, Customer Experiences, Car Buying Experiences, and Autonomous Vehicles.
The Program will award grants ranging from Rs 5 lakh to Rs 25 lakh. The program will be open to both external developers – including students, innovators, inventors, startups and other tech companies – and internal employee teams at MG Motor and its program partners.
Rajeev Chaba, President & MD, MG Motor India said, “We at MG believe innovation is the key to the future. The automobile industry is currently witnessing sweeping transformations in the space of connected, electric and shared mobility. MG aims to take this revolution forward with its focus on attaining technological leadership in the automotive industry.”
Earlier, MG Motors India supported five startups as part of its innovation program called 'MG Drives Innovation' program. Speaking about the experience, Gaurav Gupta, Chief Commercial Officer, MG Motors India told ET, “When we started the journey two years ago, we found that startups are curious, passionate and comes with no baggage. However, there were many things holding them back. They needed to understand how to take the baby steps towards developing their idea. They had solutions, but they needed mentorship and networking. Therefore, this year we have the developer program and grant where we want to give multiple opportunities to startups to thrive.”
Talking about electric vehicles taking over the country by storm Gupta said, “I believe electric mobility is gradually evolving. However, its pace of growth and the adoption is still slow and depends on the country and its automobile growth. I believe that in India’s electric vehicles population should be somewhat 8-9% over the next 5-6 years and that’s good to start with.”