FOR IMMEDIATE RELEASE
Media Contact: Sean Lenehan, firstname.lastname@example.org, (415) 977-1918
– 2nd Year of Challenge to push boundaries of ride sharing, electric scooters, self-driving vehicles and flying cars
– Prizes include financial support, mentoring, and inclusion in venture funds
– Winners announced at LA CoMotion, Nov. 15, 2018
LOS ANGELES, Aug. 15, 2018 — For the second year running, Los Angeles invites the most innovative and environmentally-friendly entrepreneurs from around the world to push the envelope on urban mobility solutions — from ride-sharing and zero-emission electric bikes and scooters to self-driving vehicles and flying cars.
The LA New Mobility Challenge, announced today, is a joint initiative of LA CoMotion, the NewCities Foundation and the Los Angeles Cleantech Incubator (LACI), all of whom are dedicated to finding cutting-edge and sustainable mobility technologies for Southern California, the largest car market in the world. This year’s edition is also supported by The Los Angeles Department of Transportation, French Tech-Los Angeles, Starburst Accelerator, Fontinalis Partners, Trucks VC, and Autotech Ventures. The first edition of the Challenge, presented at LA CoMotion 2017, attracted some 234 early stage companies from 16 countries.
The six focus areas of the LA New Mobility Challenge are:
• Shared Mobility Solutions — Ride sharing, car sharing, short-term, as-needed mobility innovations that reduce emissions and increase access to transit options, with a special consideration for those serving disadvantaged communities;
• Personal Mobility — Electric bikes, electric scooters, and other forms of individual modes of emissions-free transit that improves ridership with last-mile and first-mile solutions;
• Electrification — Electric vehicles for passenger use and goods movement, affordable EV opportunities for low-income neighborhoods, charging systems, and electric vehicle connectivity;
• Autonomous Vehicles Solutions — Artificial Intelligence (AI), LIDAR, smart mapping, vehicle integration;
• Smart Infrastructure — Smart parking, Internet of Things (IoT), traffic systems, Mobility-as-a-Service (MaaS);
• Urban Air Mobility — Electric Vertical Takeoff and Landing (eVTOL), regional zero emission air solutions.
Applicant startups must have the following characteristics:
A. Be less than five years old
B. Revenues of up to $5 million
C. Product at least in pilot, beta or prototype stage
The deadline to submit applications is September 17, 2018. The Selection Committee will select three finalists per category to present to investors, LACI, the Selection Committee, advisors and LA CoMotion partners on November 14, 2018 during LA CoMotion’s New Mobility Innovation Day event. One winner will be chosen per category, and one company will be crowned the overall champion of the competition. Winners of the 2018 LA New Mobility Challenge will also be featured alongside some of the most promising innovators in the world recently selected from the 2018 California Climate Cup, a part of the Governor’s September Global Climate Action Summit.
Winners will receive substantial cash prizes, in-kind support from sponsors or partners, an interview to be considered for membership in LACI’s globally recognized business incubation program, access to the La Kretz Innovation Campus, and/or Advanced Prototyping Center. Winners will also be eligible to receive mentorship, skills development, and market entry assessment from LACI’s Executives-in-Residence in the days leading up the conference. Winners will also be eligible to be included in investment rounds of Fontinalis Partners, Trucks VC and Autotech.
For questions, applicants should contact email@example.com.
About the Los Angeles Cleantech Incubator
The Los Angeles Cleantech Incubator (LACI) is a private non-profit organization creating an inclusive green economy by unlocking innovation (working with startups to accelerate the commercialization of clean technologies), transforming markets (through partnerships in transportation, energy and sustainable cities) and enhancing communities (through workforce development, pilots and other programs). LACI’s Transportation Electrification Partnership is an unprecedented collaboration accelerating zero emissions mobility and goods movement by the 2028 Olympics and Paralympics Games. Founded as an economic development initiative by the City of Los Angeles and its Department of Water & Power (LADWP), LACI is recognized as one of the most innovative business incubators in the world by UBI. In the past six years, LACI has helped 73 portfolio companies raise $184M in funding, $220M in revenue, create 1,700 jobs, and deliver more than $379M in long-term economic value. Learn more at laci.org.
About LA CoMotion
LA CoMotion is a unique three-day event bringing together the global leaders of the urban mobility revolution – a revolution that is set to transform every city in the world, large and small. The second edition of LA CoMotion takes place in Downtown Los Angeles’ vibrant Arts District from November 15-17 2018. The immersive event features cutting-edge discussions, demos, test drives and exhibitions – an unforgettable glimpse into our urban future.
NewCities is an international nonprofit organization dedicated to making cities more inclusive, connected, healthy and vibrant. Focusing on people, places and policies, we bring together a global network of public and private sector leaders and Urban Tech innovators to foster results-oriented collaboration. We also produce actionable research that can be implemented by decision-makers across sectors.