BMW to Set Up Incubator in NYC
BMW i Ventures, the automaker’s new $100 million investment fund, announced plans to set up an incubator in New York City. The incubator will further BMW’s mission to foster the development of mobile connectivity solutions and location-based services in heavily populated urban areas. Edward Robinson, a 32-year BMW veteran, was named president of BMW i Ventures. “We have chosen to base our operations in New York City because of its position as a center of digital media and technology and its proven commitment to furthering this industry,” Robinson said in a statement.