The Fund will help data-driven automotive ecosystem providers design, develop, and launch new products and applications using BlackBerry IVY – BlackBerry’s intelligent vehicle data platform.
Its mission is to accelerate the expansion of the IVY ecosystem with innovative solutions for transportation. The Fund will initially allocate up to $50 million to invest in startups developing data-driven solutions that can benefit from IVY’s AI insights as well as support from BlackBerry and Amazon Web Services (AWS).
IVY was first announced in December 2020 as part of a multi-year, global agreement between BlackBerry Limited and AWS. It is a scalable, cloud-connected, software platform that will allow automakers to provide a consistent and secure way to read, normalize, and create actionable insights from vehicle sensor data – both locally in the vehicle, and externally via the cloud. Automakers can then utilize this information to create responsive in-vehicle services that enhance driver and passenger experiences.
The BlackBerry IVY Innovation Fund will provide portfolio companies with access to BlackBerry’s strong in automotive and cybersecurity domain expertise. These companies will also have access to up to $100,000 in AWS credits through AWS Activate – a program that has helped hundreds of thousands of early-stage startups across several sectors accelerate their growth and development.
The Activate program also enables startups to access the Activate Console, a self-service platform that connects to insights, technical guidance, and resources to help them build their business. The Fund underscores BlackBerry’s commitment to developing the IVY ecosystem – allowing OEMs, smart mobility providers, fleet operators, and developers to equally leverage the rich insights from the next generation of connected vehicles.
On the impact of the IVY Innovation Fund, Sarah Cooper, General Manager of Outcome Driven Engineering at AWS, said “BlackBerry IVY is reinventing the automotive customer experience by transforming vehicles from fixed pieces of technology into systems that grow and adapt with a user’s needs”. “The BlackBerry IVY Innovation Fund is an important step in creating the community of developers and inspiring the ingenuity from startups that will drive innovation forward.”