BMW Is Now Investing In Transport Startups

This weekend BMW held a hackathon Hackthedrive, in San Francisco. The winning team received a BMWi3 and the runner up $10,000. Our editor Connie will have the latest on the winning team shortly; Meanwhile we caught up with BMW Ventures Ulrich Quay who reminded us that BMW are originally a hardware company but is now innovating in the transport space by investing in startups.

Aware of startups like Uber who are growing quickly and the change in trends with Gen-Y not wanting to own cars, BMW Ventures is making investments from $100k to keep the latest technology trends under its brand.

Check out our interview with Ulrich below: