£1m grant handed to IoT competition winners

A £1m grant has been given to seven startup companies that won a competition to create innovative internet of things projects

A grant of £1m has been given to seven startup companies that won a competition to create innovative internet of things (IoT) projects.

The competition – run in conjunction with Innovate UK, Tech City UK and Cambridge Wireless – was launched by prime minister David Cameron at the CeBIT conference earlier in 2014 and will provide seven companies with a share of £1m to develop their projects.

Companies will also receive access to expertise and business support from partners including EE, John Lewis, Unilever, Bosch, Seedcamp, Red Gate, Cisco, Hive by British Gas, RPD and Fab Lab London. 

The partners will provide the companies with support, investment, mentorship and opportunities to showcase their projects.

IoT is predicted to become a $500bn global technology market by 2019, while the industry is estimated to be made up of 26 billion devices by 2020.

Tech City UK CEO Gerard Grech said: “With a critical mass of world-class expertise in both hardware in Cambridge and software in London and other cities, the UK is in a strong position to lead the way in the internet of things.”

Digital economy minister Ed Vaizey said investing in growth areas such as IoT is a key part of the UK’s long-term economic plan. 

“It is an exciting time to be a tech business in the UK," he said. "Our digital economy is already one of the strongest markets in the world, valued at more than £100bn.

“We have already put coding into the school curriculum and our roll-out of superfast broadband has now passed more than 1.5 million homes and businesses and is reaching 40,000 more each week.”

Winning projects

  • Digital Shadows LimitedA project to identify, enumerate and attempt to mitigate some of the IoT-related security risks facing businesses, cities and individuals.
  • Product Health Limited – A new service for connected batteries, representing a change in the way batteries are managed in the off-grid energy sector.
  • ThinkInnovate Ltd – An IoT defence scanner, consisting of a portable scanning device, a mobile app and a web app – designed to increase confidence in IoT.
  • Arjun Technology Ventures Ltd (KisanHub working with NWave) – Wireless remote collection of data from multiple in-field sensors to make digitised farming enterprises a commercial reality.
  • 1248 Ltd – A project to encourage and improve cycle journeys in London and Cambridge by discovering, processing and providing relevant sensor data.
  • OpenTRV Limited - A venture to work out the optimum combination of sensors to use inside buildings and outdoors to detect environmental information, such as the presence of people and the weather.
  • Superflux LtdA compact air quality monitoring and GPS-tracking sensor that can be easily fitted to child’s pushchair.

 

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