URBAN-X, the Platform by MINI for Startups Reimagining City Life, Announces JVP as its New Venture Partner
The new partnership between MINI and JVP invests in, builds, and scales emerging and fast-growth companies from Seed to Series B that are shaping the future of cities through novel climate- and urban-focused technology solutions. The joint venture between MINI and JVP will fuel the next generation of URBAN-X.
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Photography credit: Shahar Azran From left to right: Sarah Schappert, Director Europe URBAN-X, Erel Margalit, JVP Founder and Executive Chairman of JVP, Johan Schwind, Managing Director at URBAN-X (Photo: Business Wire)
With 55 percent of the world's population living in cities and urban areas accounting for almost three-quarters of all carbon dioxide emissions, innovation in cities is a cornerstone in the global fight against climate change. With this partnership, MINI and JVP will leverage their global networks, strong strategic partnerships, and entrepreneurship expertise to support new ideas and innovators through URBAN-X as they pioneer new technologies in cities across the globe.
"URBAN-X is committed to supporting the most promising innovators along their journeys as they move from idea to impact," said Johan Schwind, Managing Director at URBAN-X. "Through this exciting new partnership with JVP, URBAN-X will have even more tools at our disposal to accelerate the development and deployment of transformative climate and urban technology solutions."
The URBAN-X platform combines the expansive network of world-class design, engineering and brand expertise from MINI and the BMW Group with decades of investment experience, including $1.6 billion under management, at JVP. Startup founders will have access to a global network of public and private partners and receive hands-on guidance with customer discovery and engagement, product development, talent acquisition and brand and network-building. Seed to Series B companies worldwide are encouraged to apply. Applications to join the program are accepted on a rolling basis and interested startups can apply at https://www.urban-x.com/apply/.
"Climate tech is the new major technological revolution that is impacting every dimension of our life. It is more than just about alternative energy or innovative mobility. When fintech and healthtech meet climate tech, foodtech and ag tech or when cyber defends the climate -by bringing all the tech ecosystems together, we can change the way we eat, the way we live, and hep save our planet." Said Erel Margalit, Founder and Executive Chairman of JVP and Margalit Startup City. "The various subsectors of tech - together - can make the difference, changing the future of our world and the future of cities. It is time for public and private leaders across the globe, from Israel to America to Europe to Asia and beyond, to join forces in bringing in a new paradigm for building technology that protects the planet."
URBAN-X will be located in Newlab in the Brooklyn Navy Yard and Margalit Startup City NYC, an international innovation center. The Margalit Startup City model is a recognized thematic ecosystem that brings together public, private and social impact stakeholders. Areas Margalit Startup City has focused on to date include FinTech, FoodTech, AgTech and Cyber. The model provides a platform for comprehensive engagement with the latest technologies, academic research and policy makers to enact real change.
Launched by MINI in 2016 as part of their innovation and brand strategy practice focused on improving city life, URBAN-X has since invested in more than 71 startups across the globe. To date, four URBAN-X portfolio companies have been acquired and 88% of companies have gone on to raise their next round of capital.
"MINI was built on the foundation of innovative and sustainable urban design. With this heritage, we recognize the indispensable role that entrepreneurs, technologists and designers play in the vitality and longevity of our cities," said Stefanie Wurst, Head of MINI. "In this next phase of URBAN-X, we're proud to continue engaging with the most innovative minds within the business tackling some of society's toughest challenges."
The BMW Group
In 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.