TORONTO — Infiniti Lab, the luxury brand’s startup accelerator program, will return to Toronto for the second consecutive year, giving tech businesses a chance to vie for funding and potential partnerships with the automaker.
The lab gives eight startups six weeks of training and access to funding from investors. Infiniti said the companies will have a chance to pitch for investments from the Renault-Nissan-Mitsubishi Alliance Ventures, a venture capital fund of up to US$1 billion established by the alliance last year to identify innovators in electrification, autonomy and mobility.
Infiniti Lab Toronto is a collaboration between Infiniti Canada, the startup mentorship non-profit Multiplicity and local government. It is geared toward startups in the “smart cities and Internet of Things” industry, according to a press release.
Infiniti sees the lab as a way to foster innovation at the brand as automakers invest heavily into connectivity, autonomous systems and electrification.
“Infiniti has an ambitious vision, recognizing the agile nature and benefits that startups can bring to our organization,” Infiniti President Roland Krueger said in a statement.
The lab is accepting applicants for the program beginning today. The top startups that progress through the program are given the chance to take part in the global Infiniti Lab in Hong Kong.
Rover Parking, a Toronto-based startup that labels itself as the “Airbnb of parking,” was selected by a panel of investors in 2017 to take part in the Hong Kong program.