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Open for Applications: Volvo Financial Services iLabX

Applications Open: 16th October 2018

Applications Close: 2nd December 2018

In collaboration with Volvo Financial Services (VFS) based in Greensboro, North Carolina, we’re looking for early and growth-stage startups to join a 10-week programme of accelerated integration. You will get the opportunity to trial your products and solutions at scale, network with industry experts, receive mentorship from senior leaders at VFS and access investment from VFS and L Marks.

VFS finances 200,000 vehicles in 48 countries around the world – don’t miss out on the opportunity to trial your technology at scale.

VFS aims to make it as easy as possible for customers to access and purchase Volvo Group vehicles, parts and service and financial services. We are looking for startup solutions that can enhance VFS’ key market differentiators of speed, flexibility, responsiveness and reliability, increasing integration with Volvo Group Brand Partners with a focus on digital channels.

In particular, VFS is keen to identify startups that can have an impact on:

  • automation, electromobility and connectivity,
  • offering faster and easier vehicle access (through ownership or other means),
  • Expanding vehicle access to underserved demographics,
  • streamlining internal processes to maximise productivity through digital transformation,
  • leveraging Volvo’s business intelligent data in more dynamic ways whilst upholding exemplary regulatory standards,
  • credit analysis and sales marketing,
  • futureproofing the financial services industry  
  • Re-engineering traditional assumptions around business models, sources of capital and credit risk and evaluation.

Why should you apply?

VFS iLabX is an unparalleled opportunity for your startup to access innovation opportunities working in collaboration with VFS over 10 weeks. With a direct line to senior VFS stakeholders who will unlock trial and pilot opportunities, your startup will be able to validate the commercial impact of your product or solution on the VSF business. Insights from your VFS mentors and subject-matter experts will be instrumental in helping your startup to grow. iLabX’s location in Greensboro, North Carolina will fuel your geographical growth. What is more, participating businesses will be eligible to receive investment from both VFS and L Marks.

Next Steps

Applications are open from 16th October until 2nd December 2018. We’ll need to ask you some questions about your product and your business, you can start the application process at: vfsilabx.com. If you need more information or have questions about applying, you can schedule a call with an L Marks Startup Scout via scouting@lmarks.com who will be happy to help.

Once applications close, we’ll evaluate the submissions with VFS and invite up to 25 teams to pitch for a place on iLabX. The Pitch Day will be on 9th January 2019 in Greensboro, North Carolina.

We’ll select five startups to join the 10-week collaboration program which starts on 11th February 2019. Key program events will take place at the VFS HQ in Greensboro. At the end of the program the selected startups will present their progress and proposals for a long-term partnership with VSF at the Demo Day on 24th April.

For more information and to apply for iLabX, visit: www.vfsilabx.com.

About Volvo Financial Services

Volvo Financial Services is the global finance arm of the Volvo Group. The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. The Group also provides complete solutions for financing and service. Volvo Financial Services was formed in 2001 and is headquartered in Greensboro, North Carolina, USA. The company manages a gross credit portfolio of SEK 144 billion, employs over 1,400 people worldwide, and provides customer financing in 48 countries.

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