CORRECTING and REPLACING - INFINITI LAB Returns to Toronto With Alliance Ventures

CORRECTION: Link to INFINITI Engineering Academy. To find out more about the program, applicants can visit: https://www.infiniti.com/pursuing-potential/infiniti-lab.html

• Second Toronto INFINITI LAB to take place in Toronto following 2017's successful accelerator program
  
• Applicants accepted in the program have the opportunity to pitch to Alliance Ventures

TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- INFINITI LAB, in partnership with Multiplicity, returns to Toronto this May with applications opening today, Thursday, April 26, 2018. For the first time, LAB participants will have the opportunity to pitch to the Renault-Nissan-Mitsubishi venture capital fund, Alliance Ventures.

INFINITI LAB Toronto will run for the second time after last year's successful accelerator program, gaining the support of the local government and the Ontario Centre of Excellence.

"INFINITI has an ambitious vision, recognizing the agile nature and benefits that startups can bring to our organization. Over the past three years we have worked with exceptional startups to develop pilots and partnerships that could transform our business. 2018 marks an exciting time as we strengthen our commitment and support for entrepreneurs worldwide," said Roland Krueger, chairman and global president of INFINITI.

The Renault-Nissan-Mitsubishi Alliance Ventures capital fund, of up to $1 billion USD, was launched to target new innovation for the Alliance.

"Renault-Nissan-Mitsubishi launched Alliance Ventures earlier this year, targeting investments in technology and business model innovation in vehicle electrification, autonomous systems, car connectivity and new mobility services. We're excited to be working together with INFINITI LAB to identify new investment opportunities. Toronto is one of the leading startup ecosystems globally, and we anticipate that members of the upcoming LAB programs will be a fit with our mission to invest in innovative startups," commented Francois Dossa, head of Alliance Ventures.

INFINITI LAB Toronto is an intensive six-week program where eight selected startups in the Smart Cities and Internet of Things (IoT) industry will receive expert mentoring and access to an unrivaled network of partners and investors. Promising Toronto startup, Rover Parking, progressed from last year's program to the global LAB at INFINITI's headquarters in Hong Kong. This year, the same opportunity will be offered to Toronto LAB's top startups.

"INFINITI Canada is committed to supporting homegrown entrepreneurs and open innovation. The program enables us to access new ways of thinking and support the local ecosystem with an opportunity to scale globally," said Adam Paterson, managing director, INFINITI Canada.

2018 marks the third year of operations for INFINITI LAB, which has seen successful partnerships come to life with augmented and virtual reality developers, Visionaries 777, enhancing INFINITI showrooms, and an on-going pilot with real-time routing and fleet management experts, Pantonium, a native Toronto startup.

INFINITI LAB Toronto is open Thursday, April 26^th for applicants.

To find out more about the program, applicants can visit: https://www.infiniti.com/pursuing-potential/infiniti-lab.html

For more media information, please visit INFINITInews.com.  

About INFINITI
INFINITI Motor Company Ltd. is headquartered in Hong Kong with representations in 50 markets around the world. The INFINITI brand was launched in 1989. Its range of premium automobiles is currently built in manufacturing facilities in Japan, the United States, United Kingdom and China. INFINITI design studios are located in Atsugi-Shi near Yokohama, London, San Diego and Beijing. INFINITI is in the middle of a major product offensive. The brand has been widely acclaimed for its daring design and innovative driver-assistance technologies. From the 2016 season, INFINITI is a technical partner of the Renault Sport Formula One team, contributing its expertise in hybrid performance.

More information about INFINITI and its industry leading technologies can be found at INFINITI.ca.

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Media contacts:

Didier Marsaud
Director, Corporate Communications
INFINITI Motor Company - Canada
Telephone: (905) 629-6400
Email: [email protected]

Jenn McCarthy
Manager, Product Communications
INFINITI Motor Company - Canada
Telephone: 905-629-6350
Email: [email protected] 

Roxane Barry
Specialist, Corporate Communications
INFINITI Motor Company - Canada
Telephone: 905-629-6461
Email: [email protected]

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/0ab41a3b-309c-485d-a897-2ade858c027b.