An innovative company developing AI-powered journey prediction software for electric vehicles (EVs) has won a place on a prestigious accelerator programme.
Spark EV Technology will be taking part in the Cities Stream of the Creative Destruction Lab (CDL) programme, based in Toronto, Canada.
The Newmarket company will join an illustrious list of alumni of the programme, which includes DarwinAI, GBatteries, ChargeSpot and FleetOps.
The Creative Destruction Lab is a seed-stage programme for massively scalable, science-based companies. Aimed at companies pursuing commercial opportunities that enhance the productivity and liveability of cities and neighbourhoods, the Cities Stream at CDL-Toronto brings together experienced entrepreneurs, investors, urban planning and construction experts, and scientists active in a range of fields relevant to urban innovation and ‘smart city’ technologies.
The scheme provides access to a worldwide network of mentors, experts and investors, including sponsors such as General Motors and Honda,
CDL will provide an opportunity for Spark, which is backed by New Anglia Capital, to accelerate development of its AI-based electric vehicle (EV) journey prediction software and help it roll out the technology in global markets.
“The Creative Destruction Lab is one of the toughest accelerator programmes to win a place on in the world,” said Justin Ott, CEO, Spark EV Technology, pictured above.
“That’s because of the enormous value its ecosystem of mentors, entrepreneurs and startups brings to a business. Increasing the adoption of electric vehicles is a global requirement – and by joining the Cities Stream we can develop our solution and successfully address the growing global need for our technology.”
Spark’s AI-based journey prediction software uses machine learning to help EVs and hybrids go further between charges using live data from the vehicle, driver and atmospherics, while its unique machine learning algorithm constantly learns and improves predictions after each journey.
By delivering more accurate, personalised range predictions to drivers, it increases confidence that they’ll get to their destination and therefore accelerates moves to electric vehicles by both businesses and consumers.
Through the CDL Programme, Spark will work with mentors to sharpen objectives, prioritise time and resources, raise capital, and engage with global experts working on the frontiers of research in areas such as AI. A selection of 25 companies are accepted into the Cities Stream at CDL-Toronto.
It is the latest boost for the company, which last month announced it was partaking in the BP and RocketSpace Mobility Tech Innovation Collaborative programme, which gives it the opportunity to explore partnerships with industry leaders such as Avis Budget Group, IBM and Renault-Nissan-Mitsubishi.
*The Tech Corridor supports and promotes ambitious technology companies across Norfolk, Suffolk and Cambridgeshire. To submit a news article from your firm, email email@example.com.
"As we are seeking to grow our automotive business in Norfolk, the development of Technology Park combined with the link to the Cambridge Norwich Tech Corridor can only strengthen our local position which we welcome"
Aslam Farikullah, Group Lotus
"‘The Cambridge Norwich Tech Corridor shows real vision and I applaud the partnerships role in leading the development of this strategic economic development initiative"
Simon Coward, Hethel Innovation