BMW MINI Teams Up With HAX to Build NYC Accelerator Focused on Connected Cities

Seems like BMW is following in the footsteps of Ford and partnering up with an accelerator to focus urban mobility. Its really interesting that the major automotive companies are being serious about investments into alternatives to the vehicles they produce.

The best solution is for people to move closer to work, ditch their cars, and for pedestrians to reclaim the roads (and narrow them considerably). Seriously.

"MINI and HAX will give $60,000 in equity to each startup in the three-month program and tells TechCrunch it could further invest in the strongest ideas."

That doesn't sound quite right. I'm assuming this means $60k in exchange for equity (how much?) in each startup?

I'm sure that's right about in exchange for equity.

MINI and HAX would probably want to shy away from from having a sidecar fund. This would most likely lead to investors only investing in the companies that MINI/HAX have clear interests in or would just wait for an investment in MINI/HAX.