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August 23, 2022 57 mins
The Buzz 1: A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. [Eric Ries, author of The Lean Startup] The Buzz 2: There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford…500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years. [Eric Ries] The Buzz 3: “The quality is remembered long after the price is forgotten.” [Sir Henry Royce] The Buzz 4: “It doesn’t cost any more to make something pretty.” [Jaguar Cars founder Sir William Lyons] Hurray! We’re finally seeing the delivery of new vehicles. Now what? The past 5 years have seen explosive growth in new automotive and mobility startups. Each player has had to launch their company, carve their niche in the market, develop vehicles and get them into initial production – all while establishing a supply chain during a global pandemic. Reality check: The challenges have been immense and they're not over – they’re just coming from new directions and becoming more complex as these companies move towards scale. What’s on the road ahead in terms of the people, processes and capabilities startups will have to establish, scale and refine in an increasingly competitive industry? We’ll ask Jim Davis at SAP and Paul Prehl at MHP for their insights on The New Auto and Mobility Startups: Rolling Along or Stalling?
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