15 March, 2022 Webmaster

Create a Sustainable VC World Investing in Purpose Driven Entrepreneurs

Inga Grieger, BMW i Ventures, Germany

How can you create a sustainable VC world investing in purpose driven entrepreneurs? We are very proud to present Inga Grieger, Business Development Manager, BMW i Ventures as a Keynote in Track 2 The Future of Automotive Services on the first day at VECS. In her role, she strengthens the collaboration between BMW i Ventures portfolio companies and the BMW Group. Inga amplifies especially investments in sustainable solutions for the industry. Her presentation will address potential investing strategies for companies that have sustainability embedded in their makeup, first-hand info on how portfolio companies succeeded in becoming game-changers and how come backing purpose-driven entrepreneurs is not just a topic for pure impact investors anymore? We asked Inga a few questions about her presentation and what the audience can take out of it.

 

What will you speak about at VECS 2022?

Create a sustainable VC World investing in purpose driven entrepreneurs, this keynote focuses on cultivating ventures that have sustainability embedded in their makeup and potential investing strategies for these types of companies. I will explain how come that backing purpose-driven entrepreneurs is not just a topic for pure impact investors anymore? Hear first-hand from our amazing portfolio companies how they succeeded in building their game-changing companies.

What are the major obstacles for creating a more sustainable automotive industry?

At first you think it can’t go together. But it’s a great challenge for the automotive industry to think and, above all, act sustainably. From my point of view, the biggest challenge is to live sustainability along the entire supply chain to the finished product. To achieve this balancing act, the automotive industry will have to develop sustainable solutions which transform both the product and the value chain. That’s where the term circularity takes on a holistic approach.

Talking about sustainability, which specific features are you pinpointing when looking for investment opportunities?

Sure, these days everyone says they care about sustainability, but in practice, investors and portfolio managers rarely engage corporate executives on environmental, social, and governance issues. The impression among business leaders is that sustainable investing just hasn’t gone mainstream in the investment community. BMW I Ventures is one of the pioneers of sustainable Venture Capital companies. In the middle of last year, we launched our second fund, which is exclusively dedicated to sustainable investment across the board. As a CVC with our parent company, we explicitly look at sustainable solutions for vehicle development, manufacturing and supply chain.

What needs to be done to strengthen collaboration between startups and OEMs?

Startups are driven by their goal to implement their ideas and bring production-ready solutions to the market. For startups trying to get into a big corporation like BMW, it’s best to find someone within the organization who can make the relevant connections to the right persons across the organization.

That’s exactly where I step in. One of the primary ways I help startups is by connecting them with the right stakeholders and relevant departments. I also help startups by shepherding along pilot projects they may have with BMW.

The main challenge here is to bring together two completely different ways of thinking and acting. The usually still small and, above all, very agile startup versus a large corporation with its grown structures and processes. That is why it is so important to communicate constantly with both sides and to balance the expectations.

Can you share some thoughts and ideas about what startup companies should be focusing on when looking for partnerships with manufacturers?

As I already mentioned, startups and large corporations have different timings. Startups should be aware that there are different decision-making processes and forms of communication here. It cannot be mentioned enough, it is all about communication. You should communicate openly and fairly with each other.

You have a background as an Automotive Designer, how does that help you in your current role?

Great question. Even during the design studies, you learn to think about future questions. The designer thinks about customer centricity and what he has to do so that the product meets the customer’s requirements. This way of thinking helps me immensely as a business development manager. I can empathize very well with the situation of the start ups and take on their spirit. On the other hand, I have many years of experience in large corporations, which also helps me a lot for understanding on that side.