The Autotech Council exists to help better innovation in the auto industry get to market faster. "Better and faster" innovation benefits the entire automotive value chain - from the entrepreneur and their risk-taking VCs to the vendors, parts companies, and automobile manufacturers, and ultimately - the consumer.
Gone are the days of car makers thinking they can build it all themselves. The market is changing. Cars are becoming consumer electronics. In-car technology can be out-of-date before cars hit the showroom floor. Consumers are more connected. And, the industry is being pressured to compete on efficiency and environmental impact like never before.
The result of these pressures has been a major, worldwide investment in 3rd party innovation. New auto-focused venture funds are popping up are being funded - included $100 million at Intel Capital and $85 million from GM among others. Google has a funded a self-driving car project. Major wireless operators around the world - from Deutsche Telekom to China Mobile to Verizon to name a few - are investing in their relationships with car companies. And, the reason that the Autotech Council is based in Silicon Valley, over 20 auto manufacturers have added Silicon Valley based business development and innovation scouting teams over the past 10 years.The Challenge:The auto industry includes over 10s of 1000s of companies, employs over millions of people, and has a history of excluding entrepreneurs and outside innovation.
- How does an entrepreneur get a new technology evaluated by a car company?
- How can a car company make sure they have evaluated all the right technology options?
- How can the car companies make sure their cars aren't already out of date when they hit the showroom floor?
To address the gap between innovators and car companies, the Autotech Council was built by forward-thinking auto manufacturers and their major vendor partners to keep an open flow of introductions, education, and discovery between them.Role of the Autotech Council:Visionary companies in the auto industry use the Autotech Council to discover innovation, build partnerships, exchange insight, and grow their professional networks. The result is earlier discovery of new innovation, better understanding of technology's potential impact and timing, access to more entrepreneurs and investors, and in the big picture - getting better cars to market faster. Autotech Council Innovation in Motion ™