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BMW Launching Venture to Fund Location Apps

by Marquette Turner Luxury Homes

in Apps, Lifestyle, Location, Money & Business, News & Views, Technology, Travel, Variety

Whether it be real estate, travel or just getting from A to B, there’s no denying the importance of “location, location, location”.

And, as we become increasingly glued to our smartphones and their apps to the point that we simply wouldn’t know how we could live without them, luxury car company BMW have taken notice and jumped on the bandwagon (bad pun we agree, but irresistable).

BMW i-Ventures is a $100 million USD venture fund that will focus on start-up solutions to develop what it calls “individual mobility solutions,” or more simply, for those that don’t know their app from their elbow, solutions that make it easier for individuals to navigate urban areas.

Apps that crowdsource parking information or traffic conditions and apps that help consumers navigate multiple modes of transportation are some examples that fall in this category, and the first i-Venture’s investment was a $5 million USD deal that funded MyCityWay, a company that makes location-driven city guidebook apps.

The first iVenture “incubator” is being opened in Lower Manhattan, New York, and no doubt there are many “irresistable” inventions to come.

You can find out more about i-Venture at the BMW Blog

Source

{ 1 comment… read it below or add one }

Manufactured Homes April 8, 2011 at 6:04 am

Tremendous work! You own the talent of writing beautifully. I personally liked the way it has been drafted especially the perfect drafting of skilful thoughts.

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