Talented Transport Tech Start-ups to Receive Funding Over £1 Million
Innovative transport start-ups with a focus on decarbonisation or COVID-19 recovery can bid for a share of over £1 million (£1,010,000) in the Department for Transport funding from 14 September 2020.
Transport-Technology Research and Innovation Grants (T-TRIG), which is now in its 11th round of funding, is open to entrepreneurs and innovators pioneering new ways of creating a better transport system. Over 60% of grants so far have been awarded to SMEs and 30% to universities.
T-TRIG brings together talented start-ups and policymakers at the earliest stages of innovation and by issuing targeted investments of up to £30,000 for each project, the fund aims to help budding entrepreneurs and academics propel their ideas to market quicker.
The government has provided £5.4 million through T-TRIG over the past 5 years to more than 170 technology and innovation projects with successful winners including Wayfindr and Infinect. Wayfindr was able to develop a system that helps blind and partially sighted people navigate towns and cities using Bluetooth-enabled beacons and smartphones. Infinect, which received T-TRIG funding in 2017, has developed a new satellite antenna to provide reliable high-speed broadband to rail journeys, significantly improving the passenger experience.
Investment from this fund has often been a precursor to funding from private investors and over £25 million in additional investment, largely from the private sector, has been secured off the back of successful projects awarded funding since the scheme began.
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