The Innovation Days connect companies with entrepreneur to prototype solutions in 48 hours.

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Standard Chartered

Innovation Days / Standard Chartered

Standard Chartered

Challenge Question

How might we create new financing and ownership models for smart and connected vehicles?

 

Challenge Brief

Traditionally, when you want to own a car you need to pay for it or finance it upfront to become the sole owner. Today, mobility and cars are rapidly transforming. Self-driving cars, electric cars, peer-to-peer car lending platforms like Turo and ride sharing services like Uber are challenging the status quo of how we get around and our decision of owning a car.

 

The current model for automobile financing is ripe for disruption. Let’s reimagine the conventional car financing model, rethink the economics of car ownership and shape the future of mobility. Let us also re-evaluate the roles of intermediaries in the auto sales supply chain (intermediaries like car dealers, financiers, etc.)

 

Could we create a system where customers share their car to generate revenue? Could private cars be added to the car pool of ride sharing service provider? Could ownership be shared by a group of friends and split costs according to usage? Which new opportunities are created by the data an electric vehicle like Tesla captures? Could data be leveraged to create financial incentives for safe driving?

 

Let’s reimagine the conventional financing and ownership model for cars. Help us shape the future of automobile financing.

 

We challenge you to prototype alternative financing models for smart and connected vehicles. Show us how your innovative solutions works and highlight the benefits for customers.

 

Get feedback from potential customers by talking with Tesla owners at Tesla Supercharger stations. You can drive a Tesla to get to your research station.

 

Collaboration Incentive

Get Tesla Autopilot hands-on instruction for your ride with a Tesla Model S for your Supercharger visits.

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San Francisco