Verizon connects with connected car tech Techstars

logo@2xVerizon announced it will work with Techstars (Detroit), Ford and Magna International to support automotive tech  startups. Techstars Mobility, is a technology accelerator program in metro Detroit for ten startup companies. Participating companies will receive support from Ford, Magna International and Verizon.

Techstars Mobility is designed to help bring new technologies with mobile devices, wireless connectivity, and cloud computing  to improve the ease and safety of driving.

Techstars Mobility, driven by Detroit will give 10 selected companies connections with partners, $120,000 in funding and three months mentorship. The seed funding, intensive mentorship, and network of mentors and alumni is provided for 7-10% equity in the company.

The Techstars program is in the growing entrepreneurial district of Detroit.

Techstars will also coordinate efforts across the Detroit entrepreneurial ecosystem as a member of the Detroit Technology Exchange (DTX), ensuring that Techstars can have a positive impact across the entire community. Techstars Mobility, driven by Detroit will run for three years with a new class of 10 startups each year.

The program kicks off June 9, 2015, and concludes with a Demo Day on September 10, 2015. Applications are being accepted through March 15, 2015.