London, June 16, 2014: Here’s some news for those in the United Kingdom working in the field of the Internet of Things (IoT).
Tech City UK, the Technology Strategy Board and Cambridge Wireless have decided to collaborate on a £1 million IoT Launchpad competition, first announced by David Cameron at the CEBIT conference earlier this year. The competition will support companies and research projects around the IoT centred in both Cambridge (equipment and communications) and London (software and services) SME clusters, with grant funding and business support.
The announcement on the website in addition to the £1M in grant funding that is being made available via the Launchpad competition, winners will also get exposure to large brands like EE, John Lewis, Unilever, Seedcamp, and Red Gate who want to work with leaders in this space. These partners can offer anything from match funding through to a route to market, mentorship and retail space.
Launchpad competitions support business innovation through a combination of R&D project funding, business support and attracting new investment, delivered through an accessible application process. It’s a platform that enables businesses to take advantage of being part of a developing cluster to realise their potential for growth.
The organisers said they were looking for projects that “may be risky” for companies to take forward without any support, or that may take them into new innovative areas. Companies collaborating across the tech clusters of London and Cambridge are particularly encouraged to enter.
Here’s what the winners of the IoT Launchpad competition will receive:
- R&D grant funding of between £50,000 and £150,000 per company
- A business support programme that includes mentoring to enhance and accelerate development
- Connections with potential partners and clients; as well as access to the investment community to help realise growth ambitions
- Access to large consumer brands that want to work with leaders in this space
Who can apply?
The competition is open to innovative industrial research projects and startups, developing new IoT projects, processes or services; or projects which will bring about significant improvements in existing IoT products processes or services.
The competition is open to anyone based in Europe, who registers their company here in the UK.
- Award: Up to £1m
- Opens: Jun 16, 2014
- Registration closes: Sep 3, 2014
- Closes: Oct 23, 2014
- Registration is required to enter this competition. Registration will close 50 days before the competition application deadline.
Image Credit: Tech City
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