On October 15, the Transit Tech Lab announced its second round.
The Transit Tech Lab is joint venture between the MTA and the Partnership for New York City. The Transit Tech Lab is an accelerated program that allows private sector solutions to help the MTA and other public transportation agencies to improve the transportation system.
Entrepreneurs with products to help improve traffic coordination, improve accessibility, or create new avenues of revenues are welcome to apply to participate in the Transit Tech Lab. Applications need to be received by November 30, 2019, to be considered for this opportunity.
Pat Foye, Chairman and CEO, said in a press release, “As we look to make unprecedented investments in service modernization, it is imperative that we utilize every avenue possible to open the MTA to the most creative technologists in mobility.”
Additionally, Foye added, “The Transit Tech Lab is a proven partner for evaluating and introducing technologies that address some of our most critical challenges, and it has generated millions of dollars in value at no cost to the MTA.”
Rachel Haot, Executive Director of the Transit Innovation Partnership, said in a press release, “The future of our city depends on public transit. Thanks to the Governor and MTA’s leadership and commitment to innovation, our public transit system is improving. With the Transit Tech Lab, we’re excited to build on that momentum and make our city the global leader in mobility by attracting the most innovative companies from around the globe to improve transportation in New York.”
Since the program was so successful last year, NJ TRANSIT, New York City Department of Transportation, Port Authority of New York and New Jersey, New York City Taxi and Limousine Commission, and Amtrak will be participating in addition to just the MTA.
Products will be chosen by experts from across numerous agencies. Those that are selected will participate in an eight-week accelerator program to showcase that their product can be a solution to a problem a specific agency is looking to solve.
When it comes to reviewing the proposals, here are some of the experts who will be reviewing them, according to a press release. Venture capital evaluators include:
• Reilly Brennan, General Partner, Trucks Venture Capital
• Hilary Gosher, Managing Director, Insight Partners
• Maria Gotsch, President & CEO, Partnership Fund for New York City
• Nick Grossman, Partner, Union Square Ventures
• Dylan Hixon, Principal, Arden Road Investments
• Linda Kirkpatrick, Executive Vice President, U.S. Market Development, Mastercard
• Brian Yormak, Partner, Story Ventures
To apply for the Transit Tech Lab, you can visit transitinnovation.org and apply online.