MEMA Aftermarket Startup Challenge
Sparker aims to unlock the potential of innovation by connecting mobility startups to the Automotive Aftermarket sector and boost their success with passionate expertise. With over 200 mobility startups hosted on its digital platform, planning to reach 800 in 2023, Sparker is already providing services to global customers such as Nexus Automotive International, Mobilion VC and others.
MEMA Aftermarket Startup Challenge:
The Mema Aftermarket Startup Challenge is aimed to select 6 startups disrupting the North American automotive aftermarket industry to pitch at the Mema aftermarket conference. Apply before June 9, 2023 to have the chance to pitch your innovation at the Mema Aftermarket conference on October 10, 2023 in Atlanta in front of major suppliers in the North American market!
Advanced Driver Assistance Systems (ADAS) is an area of opportunity within the automotive aftermarket industry. According to a report by ResearchAndMarkets, the ADAS market is expected to grow from $27.23 billion in 2020 to $83.27 billion by 2030. Startups that focus on ADAS technologies have the potential to capture a significant share of this market by providing solutions that improve vehicle safety and performance. Some innovative ADAS solutions include predictive maintenance for ADAS components, computer vision, and machine learning-based systems that enable more accurate and efficient ADAS calibration, and automated calibration tools that reduce the time and cost associated with ADAS calibration.
Startups that offer predictive analytics solutions for the Automotive Aftermarket can provide valuable insights into customer behavior, maintenance needs, and demand forecasting for aftermarket parts and services. According to a market report by MarketsandMarkets, the predictive analytics market for the Automotive Industry is expected to grow from $1.1 billion in 2020 to $3.3 billion by 2025, at a CAGR of 24.5%. By leveraging data and analytics, US-based Automotive suppliers can optimize their inventory management, reduce downtime, and increase customer satisfaction. This technology is highly relevant to the aftermarket as it allows suppliers to identify potential failures before they happen, providing proactive maintenance, and reducing repair costs.
Startups that offer digital solutions for customer engagement, such as mobile apps, chatbots, and personalized communication, can enhance the customer experience and drive loyalty. According to a market report by Zion Market Research, the global automotive customer engagement solutions market is expected to reach $28.23 billion by 2025, growing at a CAGR of 10.4%. For the Automotive Aftermarket, such solutions can enable US-based Automotive suppliers to provide timely and relevant information about parts, services, and promotions, as well as personalized recommendations for customers based on their buying history. This can result in increased sales and customer retention.
Startups that offer inventory management solutions can help US-based Automotive suppliers optimize their supply chain, reduce costs, and improve delivery times. According to a market report by Technavio, the global Automotive Inventory Management Software market is expected to grow by $2.01 billion during 2020-2024, at a CAGR of over 7%. With the increasing complexity of the Automotive Aftermarket, startups that provide innovative approaches to inventory management can create a competitive advantage for US-based Automotive suppliers. This technology is highly relevant to the aftermarket as it allows suppliers to manage their inventory levels more efficiently, reducing stockouts and improving customer satisfaction.
Startups that focus on creating innovative car parts or improving the use and monitoring of existing car parts have the potential to create significant value in the automotive aftermarket. Examples of innovative solutions in this space include 3D printing of car parts, real-time monitoring of vehicle systems, and new materials and manufacturing techniques. According to a market report by IDTechEx, the market for 3D printed automotive components is expected to reach $1.1 billion by 2029. By leveraging 3D printing technology, US-based Automotive suppliers can reduce lead times, minimize waste, and create unique value propositions for their customers.
Safety systems for servicing EVs have the potential to create significant value in the automotive aftermarket. As the market for EVs continues to grow, there is a growing need for safety systems that can protect service technicians when working on these vehicles. According to a report by Mordor Intelligence, the global electric vehicle market is expected to grow at a CAGR of over 22% between 2020 and 2025. This growth is expected to result in an increased demand for servicing and maintenance of EVs, making safety systems for servicing EVs a highly relevant and important area of focus for startups.
The global EV repair and maintenance market is expected to reach $11.8 billion by 2028, growing at a CAGR of 7.0%, according to Grand View Research. In addition, the increasing trend towards online repair and service platforms presents new opportunities for suppliers to offer innovative solutions that meet customer demands.
According to Allied Market Research, the global EV battery market is expected to reach $94.4 billion by 2027, growing at a CAGR of 18.6%. As EV batteries degrade over time, there is a need for aftermarket services to extend their lifespan and improve their efficiency, providing opportunities for suppliers to offer value-added services to EV owners.
As the automotive industry becomes more complex, the need for efficient supply chain management and fleet management solutions increases. According to MarketsandMarkets, the global automotive aftermarket size is expected to reach $1,030.7 billion by 2025, growing at a CAGR of 3.9%. This presents an opportunity for suppliers to offer innovative solutions that optimize supply chain and fleet management operations.
With a growing focus on reducing waste and emissions, there is a need for more sustainable solutions across the industry. This includes the development of circular economy models that encourage the recycling and repurposing of automotive components. According to a report by McKinsey & Company, the circular economy in the automotive industry could generate $400 billion of additional value by 2030.
Terms and conditions for MEMA Aftermarket Startup Challenge
These terms & conditions define the rules and fair modalities for startups engaging in startups challenges organized by Sparker SAS. The objective for Sparker is to set high standards of quality and ensure the best outcome for all parties involved.
Sparker startup challenges are competitions open to startups and usually carried out with the aim to promote startups in the Sparker ecosystem to create commercial opportunities or investment opportunities. This can be achieved through direct connection to a Sparker customer, participation in an event, obtaining visibility in the Sparker digital platform and various other communication means.
Challenges are usually targeted on a specific theme with set criteria. Any startup, fulfilling the criteria, may apply to the challenge via the Sparker digital platform Sparker Hub. Sparker coordinates the application review process leading to the selection, announcement and reward of the selected startups.
It is of utmost importance for all parties to comply with ethics and professional rules including strict adherence to intellectual property codes.
By participating in the challenge, the startup agrees with these
Terms & Conditions.
- Summary Challenge Description
- Organizer: MEMA, Automotive Ventures, Capstone Financial and SPARKER
- Purpose of the challenge: Offer the opportunity for startups to connect with vehicle suppliers at MEMA’s Aftermarket Technology Conference and initiate productive partnerships.
- Conditions of participation:
- The startup can be global but with operations in North America (USA, Canada, Mexico)
- The product presented is beyond Proof Of Concept
- Selection criteria and specifications:
The startup selection will be based on the technology, the traction, the quality of the team and the potential for partnership with Automotive Aftermarket suppliers.
Startups active in one of the above 10 Startups Criteria will be considered.
- Number of startups selected: 6
- Dates for application: Apply before June 9, 2023
- Dates for publication of results: August 2023
- Event Date: October 10, 2023
- Sparker contact persons:
- Startups selection and preparation for event: Kazuna Yamamoto & Anastasiia Pavlova (email@example.com)
- Event coordination : Rita Saliba (firstname.lastname@example.org)
SPARKER will use the Startup name and brand identity in Challenge -related communication without making any change to it.
The Startup may use SPARKER brand identity on its website or other social media communication without making any change to it.
- After closing the selection process, every startup participating in the challenge will be informed of the result by email.
- The selected startups will be announced through different channels at the convenience of Sparker, Automotive Ventures, Capstone Financial, and MEMA (LinkedIn, website, email, SparkerHub …)
Sparker will invite the selected startups to a pitch and networking session at the following event:
Mema Aftermarket Technology Conference
Hosted at Genuine Parts Company’s (NAPA) world headquarters in Atlanta
October 10, 2023
with ~250 participants from Automotive Aftermarket
Selected startup will enjoy:
- A 5 min pitch on stage on October 10, 2023 at 10:45am
- Followed by a networking session with a table for each startup.
- Visibility within the Sparker and MEMA platform and communication through various digital channels.
- Discounted ticket price for the entire conference ($499 instead of $989).
Travel and further expenses:
Startups will need to cover their travel and accommodation expenses.
If chosen to participate in the full conference on top of October 10th, startups are responsible to purchase their own discounted ticket. (please place a request to the event coordination team).
Nb: Each participant will need to ensure that they have the Visas in force to enter into the territory.
Any startup member invited to join a Sparker in-person or online event undertakes:
- To participate assiduously in the event (In case of no-show the startup will bear the cancellation costs incurred),
- To spread a good and professional brand image during the event and on social networks,
- To be punctual and respect dates and deadlines as set out by the Sparker team to ensure a smooth and successful organization of the event,
- To maintain a clean and tidy booth during an exhibition or a forum,
- To behave in a respectful manner with any event attendee and respect the space allocated to each startup in an exhibition as the case maybe,
- Not to transfer, free of charge or for a fee, the allocated space,
- To conform to basic codes of ethics and good commercial conduct. Any type of harassment is not tolerated.
What happens if you are selected?
Sparker team will contact you for more information regarding your participation at MEMA Aftermarket Startup Challenge in Atlanta, on October 10, 2023