New £1m competition hopes to find the thing in Internet of Things

Digital is taking over the physical.

It’s predicted that by 2020 nearly 26 billion physical devices will be transmitting data to each other via the internet.

Announced by David Cameron in March, a £1m Launchpad competition seeking world-leading innovation in Internet of Things technologies is now open.

The competition is open to all European entrepreneurs, as long as their company is registered in the UK and has a working connection with either the London or Cambridge tech clusters.

Up to £1m grant funding will be shared across the successful applicants who are currently developing ideas, prototypes, or have an existing business in the Internet of Things sector.

Economic opportunity

In addition to £1m in grant funding that is available, winners will also get exposure to large brands like EE, John Lewis, Unilever, Seedcamp, and Red Gate.

Gerard Grech, Tech City UK CEO said:

The Internet of Things is a transformative development, representing a major growth area and economic opportunity.

With our expertise in both software and hardware, we believe Britain can be a major player in this space.

The competition is a collaboration between Tech City UK, the Technology Strategy Board and Cambridge Wireless. There is a particular focus to link Cambridge, which has a strong tech history, to the growing tech scene in London.

The closing date for submissions is 3 September 2014.

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