GM has made number of huge acquisitions and investments in the previous few years. It picked up self-driving company Cruise earlier this year and dropped $500 million into Lyft, Uber’s largest competitor. GM acknowledges that it wants to work out how to tap into new aspects of the automotive experience, CTO Jon Lauckner stated.
However all these corporations begin someplace. And GM wants to find them early, in addition to the large investments they already make. So GM is now going to work with 500 Startups to monitor and make early investments to broaden its reach.
For all intents and functions, GM goes to be in search of out 5 corporations inside every batch to make investments with 500 Startups. The agency is at present working through its 19th batch of companies, and a partnership like this might allow it to differentiate itself from different accelerators. In truth, 500 Startups recently entirely dropped the “accelerator” brand in an attempt to further differentiate itself. So whereas that is in fact good for GM to get entry to the 500 Startups pipeline, it’s good for 500 Startups to show additional value to its customers.
Working with an agency like 500 Startups — which has seen lots of of corporations undergo its program — may give GM entry to an enormous pipeline of startup corporations and a network of potential investments. 500 Startups works to find companies outside domestic markets.
Read the source article at twentyone.