BlackBerry Launches BlackBerry IVY Innovation Fund to Drive Future of Transportation

Rhea-AI Summary

BlackBerry Limited (NYSE: BB; TSX: BB) has launched the BlackBerry IVY Innovation Fund to accelerate innovation in the automotive ecosystem. This fund aims to invest up to $50 million in startups creating data-driven solutions leveraging the BlackBerry IVY platform. Additionally, portfolio companies will receive access to $100,000 in AWS credits. BlackBerry IVY, developed in collaboration with AWS, enables automakers to extract actionable insights from vehicle data, enhancing user experiences. This initiative reflects BlackBerry's commitment to evolving the automotive industry through advanced technology.

Positive

• Launch of the BlackBerry IVY Innovation Fund to invest up to $50 million in data-driven startups.
• Partnership with AWS providing portfolio companies with up to $100,000 in credits and access to technical resources.
• BlackBerry IVY platform enhances automaker capabilities to deliver improved driver and passenger experiences.

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• None.

WATERLOO, ON, March 25, 2021 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB) today announced the establishment of the BlackBerry IVY Innovation Fund to help data-driven automotive ecosystem providers turbocharge their innovation and bring new products and applications to market using BlackBerry's Intelligent Vehicle Data Platform, BlackBerry IVY™.

Announced in December 2020 as part of a multi-year, global agreement with Amazon Web Services, Inc. (AWS), BlackBerry IVY is a scalable, cloud-connected software platform that will allow automakers to provide a consistent and secure way to read vehicle sensor data, normalize it, and create actionable insights from that data both locally in the vehicle and in the cloud.  Automakers can use this information to create responsive in-vehicle services that enhance driver and passenger experiences.

The BlackBerry IVY Innovation Fund's mission is to accelerate the expansion of the BlackBerry IVY ecosystem with innovative transportation solutions. The Fund will initially allocate up to $50 million to invest in startups focused on developing data-driven solutions that can benefit from BlackBerry IVY's AI insights and support from BlackBerry and AWS.

The BlackBerry IVY Innovation Fund will provide portfolio companies with access to BlackBerry's strong automotive and cybersecurity domain expertise. They 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 accelerate their growth and development. This includes access to the Activate Console, a self-service platform that connects startups to insights, technical guidance, and more to help them build their businesses.

The BlackBerry IVY Innovation Fund underscores BlackBerry's commitment to developing the BlackBerry IVY ecosystem to allow OEMs, smart mobility providers, fleet operators, and developers alike to leverage the rich insights from the next generation of intelligent connected vehicles.

"The connected vehicle market is evolving with a tremendous rate of innovation. BlackBerry IVY has the potential to play a pivotal role in enabling a rich ecosystem of solutions that improve and enhance driver and passenger experiences and ultimately revolutionize the way we get from A to B," said Vito Giallorenzo, SVP Corporate Development & Strategic Partnerships, BlackBerry. "The BlackBerry IVY Innovation Fund will be a powerful tool to enable both established and startup partners to benefit from BlackBerry IVY's powerful data insights and help us drive advancements across the entire transportation industry."

"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," said Sarah Cooper, General Manager of Outcome Driven Engineering at Amazon Web Services. "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."

To find out more about BlackBerry IVY, or to inquire about the BlackBerry IVY Innovation Fund, visit https://www.blackberry.com/us/en/products/automotive/blackberry-ivy/innovation-fund.

About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 175M cars on the road today.  Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere. 

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

 

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SOURCE BlackBerry Limited

FAQ

What is the BlackBerry IVY Innovation Fund?

The BlackBerry IVY Innovation Fund is an initiative to invest up to $50 million in startups focused on data-driven solutions leveraging the BlackBerry IVY platform.

How much funding will the BlackBerry IVY Innovation Fund provide?

The fund will initially allocate up to $50 million to invest in promising startups.

What benefits do startups receive from the BlackBerry IVY Innovation Fund?

Startups can gain access to up to $100,000 in AWS credits along with BlackBerry's automotive and cybersecurity expertise.

When was the BlackBerry IVY Innovation Fund announced?

The BlackBerry IVY Innovation Fund was announced on March 25, 2021.

What is the purpose of the BlackBerry IVY platform?

The BlackBerry IVY platform aims to enable automakers to extract and analyze vehicle sensor data to enhance user experiences.