BMW to Set Up Tech Incubator in NYC, Looking for App Developers

BMW yesterday announced it will set up a tech incubator in New York City and is prepared to invest as much as US$100 million in start-ups developing location-based smartphone apps. The fund, which will operate under the auto maker’s iVentures platform, hopes to seed innovative apps that will “improve personal mobility in urban areas and deliver extra comfort or smart advantages”, BMW said.