BUSINESS

Karma Automotive and CerraCap Cares Launch InnoV8: A Women-Focused Innovation Platform

March 27, 2024

InnoV8, launched by Karma Automotive and CerraCap Cares, supports women entrepreneurs and startups in technology.
InnoV8 participants can access Karma’s Irvine headquarters for facilities and business support.
The initiative stemmed from a partnership led by Mayor Khan, aiming to bolster Irvine’s tech ecosystem and support women-led startups.

Karma Automotive, known for its ultra-luxury electric vehicles, and CerraCap Cares, a prominent impact fund, have joined forces to introduce InnoV8. This new initiative tailors its support for women entrepreneurs and women-led startups, propelling them towards success in the constantly changing environment of technology.

“At InnoV8, our aim is to blend expertise and resources to fuel impactful change by inspiring and mentoring women-led startups and entrepreneurs,” expressed Nikki Arora, General Partner at CerraCap Cares. “We are passionate about harnessing the power of innovation to create positive social impact.”

With a mission to promote inclusion, equity, and diversity, InnoV8 represents a big step towards empowering women in the technology space. This sentiment is echoed by Marques McCammon, President of Karma Automotive, who highlighted, “Key to our vision is assuring access to the necessary tools to develop and deliver ideas to the market equally and equitably.”

The partnership between Karma Automotive and CerraCap Cares provides exceptional opportunities for program participants. Ventures chosen for InnoV8 will get the chance to work at Karma’s headquarters in Irvine, CA, giving them access to facilities, equipment, and vital business support.

“We are committed to driving innovation within our segment and within our community,” stated McCammon. “Through our partnership with CerraCap Cares and the launch of InnoV8, we are able to unlock opportunities to transform industries by empowering our community’s most dynamic women entrepreneurs.”

The start of InnoV8 was made possible by a strategic partnership led by the City of Irvine, under the leadership of Mayor Farrah N. Khan. The mayor’s Innovation Council, aimed at making Irvine a tech and innovation hub, played a crucial role in uniting Karma Automotive and CerraCap Cares.

“I am excited to see this groundbreaking collaboration launch a one-of-a-kind initiative dedicated to supporting and funding women-led startups and businesses in the City of Irvine,” Mayor Khan expressed. “The vision behind my Innovation Council has always been to open opportunities for everyone in our city, create partnerships that contribute to our innovative ecosystem, and provide resources and support for our local startups.”

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InnoV8 is not just another initiative. It’s a testament to the power of public-private partnerships and a commitment to driving change in the technology industry. Designed with a deliberate focus on women entrepreneurs in Southern California, InnoV8 focuses to connect innovators and entrepreneurs with industry experts, industrialists, and investors, encouraging a lively environment for innovation and development.

For more information about InnoV8, visit www.CerraCapCares.com.