Electric vehicles (EV) are more than just trendier and sleeker cars. It constitutes a new era of sustainability in mobility and transportation. The transportation sector generates the largest share of greenhouse gas emissions, being 27 per cent in 2020 alone. With sustainable practises being the focus of the new age of living, the future of the mobility industry is 100 per cent electric.
Imagine a future where everything becomes powered by electricity, and from cars to planes, your way of living is rebuilt on a cleaner, safer, and more productive structure. Modes of transportation are smarter, allowing you to work faster and easier.
With an electric vehicle, apart from being environmentally friendlier and having better performance, you are more in control despite the rising gas prices. With electric planes, global travel is more efficient with its otherwise inevitable carbon footprint. While still at the nascent stages of its predicted impact, it’s a big step towards lessening carbon emissions while serving your transportation needs regularly.
Also Read: How electric mobility startups are tackling climate change in Asia
The ecosystem is at the cusp of a revolution in this future technology, and both public and private organisations are taking notice of the opportunities in this landscape.
MIH initiatives to outreach startups in the space
As the leading and largest electronics company in the world, Foxconn is known as the powerhouse that assembles and builds the device we cannot live without- the iPhone. With vehicles the foremost technology consumers need to move from point A to point B, Foxconn is in the best position to enable the future of mobility with EVs.
MIH Consortium, initiated by Foxconn, is one of the leading pioneers in developing relationships with startups and tech innovators. The team at MIH is creating an open electric vehicle (EV) ecosystem that promotes collaboration in the mobility industry. Its mission is to realise key technologies and develop reference designs and standards while bridging the gap for alliance members resulting in a lower barrier to entry, accelerated innovation, and shorter development cycles.
This marks the start of MIH’s initiative to create synergies with startups in the EV space in Southeast Asia. Recently, MIH launched MIH for startups, a programme for startups working on EV-related areas – Electric Powertrain Systems, Battery and Energy Management, Light-weighting Technologies, Automotive Semiconductor, Automotive System Software, and Digital Twin Autonomous Driving and SmartCockpit. The programme allows startups across the globe access to mentorship, pilot, funding, and co-branding opportunities together with Foxconn.
Techstars’ mandate of public-private collaboration to spearhead the expansion of EV
To further enable this transition, MIH is excited to be working with Techstars, the worldwide network that helps entrepreneurs succeed, to drive innovation with EV-related startups worldwide.
“This is just the beginning of a very exciting and impactful partnership between Techstars and MIH. Today we are driving deep engagement with startups in the EV ecosystem through the MIH x Techstars Startup Catalyst programme. Tomorrow, my personal hope is to launch Accelerator programmes together in multiple markets to accelerate EV adoption and invest in the next big technologies across electrification,” mentions Tricia Martínez, Managing Director of Techstars Industries of the Future Accelerator
Techstars’ mission is to enable everyone on the planet to contribute to and benefit from entrepreneurs’ success. In addition to operating accelerators and venture funds, Techstars connects startups, investors, corporations, and cities to help build thriving startup communities. This means bringing together key ecosystem players to drive more innovation, create impact, and support incredible startups. And within the EV ecosystem, all hands on deck are required to move the needle forward.
Tricia adds, “Both private and public sectors are pushing to reach carbon emission targets over the next few years, and we view electrification as one part of the equation in making that happen. Investors are taking note and pouring billions of dollars into emerging and promising technologies.”
Also Read: Techstars, Crestone VC join Filipino HR-tech startup Betterteem’s financing round
“It’s time for startups, private industry, and government entities to work together more strategically to eliminate roadblocks and usher in an EV future. Techstars is the glue that can bring these assets together, build thriving ecosystems, and scale market disruption.”
To solidify this partnership, Tricia is joining as an Advisor to the Board at MIH. Tricia asserts her excitement over this collaboration “because building a coalition and mobilising is the only way we can create a thriving ecosystem. This is just the beginning of the EV ecosystem. There is a lot to build, people to mobilise, behaviours to change, and no one person or group can do it alone.” Techstars will again stay at the forefront of engaging different stakeholders that drive the global adoption of new technologies.
Conclusion
Electrification is the future of the transportation industry. It’s no longer a dream or a faraway possibility.
Tricia iterates that “We must come together as an ecosystem quickly to make it a reality. We’re running out of time to make a lasting difference in the environment around us – the urgency is real, and we must come together to act.”
Join us at MIH Demo Day on November 8, 2022 in Taipei to see what is to come in the EV startup world with Techstars + MIH. Visit the MIH website for more info.
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