Innovate UK offers sharing economy start-ups chance to win £180,000

The government-backed innovation agency's latest competition will develop six new businesses with solutions for the peer-to-peer market...

Start-ups with a focus on the sharing economy have a chance to win £180,000 and partnerships with names such as Airbnb and Nesta, with applications open for Innovate UK’s latest initiative to find solutions for the growing peer-to-peer (P2P) market.

The government’s innovation arm will award six small businesses with up to £30,000 each to develop their sharing economy ideas across six areas; trust, travel and tourism, construction, DIY, innovation and data analytics.

Alongside a cash injection, the six chosen start-ups will receive mentoring and will get the opportunity to work with industry partners to bring their products and services to market.

The competition partners include Crossrail, Nesta, Kingfisher, Airbnb, Peterborough City Council, Cranfield University and the Sharing Economy UK.

Digital economy and programme manager for IC tomorrow, Matt Sansam, said of the competition:

“The sharing economy is starting to impact many different sectors, but there is still much more that can be done to make the most of this opportunity. This competition seeks innovative start-ups to help disrupt existing business models and to push the boundaries of the sharing economy even further.

“With the support of our challenge partners, we want to help these companies get their ideas off the ground and into the market. We’re excited to see what they come up with.”

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Entries for the programme close on Tuesday 12 April.


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