Porsche AG has revealed a new joint venture with UP.Labs, an accelerator based out of Silicon Valley, to facilitate the advance of mobility solutions. The new venture, dubbed Porsche InnoLab, will provide necessary resources to foster innovation in the automotive sector, as well as facilitate the development of new products, services, and business models.
The InnoLab will serve as a strategic platform to drive the exploration of Porsche’s digital transformation while also creating opportunities for startups to leverage the brand’s engineering, product development, and production capabilities. Companies that are accepted into the program will gain access to Porsche’s expertise in the areas of design, engineering, production, and sales.
Porsche’s Chief Digital Officer, Thomas Ulbrich, commented on the venture, “At Porsche, we are always looking for new ways to innovate and stay ahead of the curve. Our partnership with UP.Labs will provide us with the opportunity to collaborate with the best and brightest minds in Silicon Valley and explore new business models and technologies.”
UP.Labs, which was founded in 2016, has a proven track record in helping startups to prototype, develop, and launch products and services. It is considered an invaluable resource in the Silicon Valley ecosystem, and is the perfect partner for Porsche in their effort to explore the future of mobility.
The InnoLab will offer a variety of programs such as accelerator programs, bootcamps, and workshops. The accelerator program will host one cohort per year, and each cohort will have up to 10 companies. Porsche will also offer fellowships to startups, which will provide them with resources, mentorship, and access to Porsche’s network.
The joint venture is an example of Porsche’s commitment to innovation and digital transformation. By leveraging the resources and expertise of a leading accelerator in Silicon Valley, the InnoLab will undoubtedly facilitate the development of groundbreaking technologies and products.