Hosting Pitch Day at show floor
exhibit
AURORA, ON, Dec. 8, 2015 /PRNewswire/ - Magna
International Inc. will hang an "open for business" sign on its
booth this year at the CES tradeshow in Las Vegas. Magna,
along with venture capital firm IncWell and mentorship-driven
accelerator Techstars, will select 15 companies for the opportunity
of a lifetime – participation in Pitch Day 2016 at Magna's
CES booth on January 7.
Selected companies will have an opportunity to pitch their
company, innovation or idea before a panel of judges comprised of
representatives from the three co-hosts, which could help them
commercialize their technology.
"This is a win-win situation for all involved. Start-up
companies get to pitch to three key business stakeholders all at
once and in turn we get to identify and potentially tap into the
next generation of entrepreneurs," said Swamy Kotagiri, Magna's Chief Technology
Officer. "What better place to do a pitch day than CES, a
show that fosters innovative thinking and exposes new technology
and companies."
To submit your idea for consideration, please go to IncWell's
website at: http://theincwell.net/pitch-us/. Entries
must be received by December 31,
2015, to be considered.
"IncWell is returning to CES once again and is looking forward
to hearing from high quality, high caliber start-ups that will be
participating in Magna's booth for pitch day," said Simon Boag, IncWell Managing Partner.
"Techstars is excited to work with great partners like Magna and
IncWell to find promising entrepreneurs building next-generation
transportation and mobility solutions," said Ted Serbinski, Managing Director of
Techstars.
About Magna International
Magna is a leading global
automotive supplier with 285 manufacturing operations and 83
product development, engineering and sales centres in 29 countries.
Magna has approximately 125,000 employees focused on delivering
superior value to our customers through innovative products,
processes and World Class Manufacturing. Its product capabilities
include producing body, chassis, exterior, seating, powertrain,
electronic, vision, closure and roof systems and modules, as well
as complete vehicle engineering and contract manufacturing. Magna's
common shares trade on the Toronto Stock Exchange (MG) and the New
York Stock Exchange (MGA). For further information about Magna,
visit www.magna.com.
About IncWell
IncWell is a private venture capital
fund located in Birmingham, Mich.,
founded by Tom LaSorda, the former
CEO of Chrysler. IncWell offers seed funding, strategic
partnerships and mentorship for U.S. and Canadian startup companies
that present breakthrough or disruptive technologies backed by
great leaders. The CEO and Managing Partner of the fund is
Simon Boag. Other Limited Partners
include Roger Penske, Chairman and
CEO of Penske Corporation; Dieter
Zetsche, Chairman of Daimler AG; John Melstrom, Partner at Fenner Melstrom &
Dooling PLC; Stephen Polk, former
CEO of R.L. Polk & Co.; and
Wayne Sales, former CEO of Canadian
Tire and SuperValu. There are 15 other additional key Limited
Partners. Learn more or pitch us online at www.incwell.net.
About Techstars
Techstars is a global ecosystem that
empowers entrepreneurs to bring new technologies to market wherever
they choose to live. With dozens of mentorship-driven accelerator
programs and thousands of community programs worldwide, Techstars
exists to support the world's most promising entrepreneurs
throughout their lifelong journey, from inspiration to IPO.
Techstars provides access to tens of thousands of community
leaders, founders, mentors, investors, and corporate partners,
allowing entrepreneurs to accelerate the pace of innovation and Do
More Faster™. Techstars supports every stage of the entrepreneurial
journey – from early stage grassroots community development to more
formal opportunities that provide education, experience,
acceleration, funding, and beyond. For more information, visit
www.techstars.com.
# # #
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE
"FORWARD-LOOKING STATEMENTS" UNDER APPLICABLE SECURITIES
LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE
CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA'S
REGULATORY FILINGS. PLEASE REFER TO MAGNA'S
MOST CURRENT MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS
OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND
ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF
MAGNA'S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY
DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL
EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH
FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR
REVIEW ON MAGNA'S WEBSITE AT WWW.MAGNA.COM.
SOURCE Magna International Inc.