Tech-focused transport start-ups can bid for a share of almost £1 million in funding
Innovative and tech-focused transport start-ups can, from today (Tuesday 24 September 2019), bid for a share of almost £1 million (£960,000) in Department for Transport funding.
The grant - called the Transport-Technology Research and Innovation Grant (T-TRIG) - is available for entrepreneurs and innovators pioneering new ways of creating a better transport system.
Issuing targeted investments of up to £30,000 for each project, the fund aims to help start-ups and academics propel their ideas to market quicker.
The Minister for the Future of Transport, George Freeman MP, will launch the competition at a roundtable with UK transport technology businesses. George Freeman, said:
Now in its 10th round of funding, government has provided £4.6 million via this grant over the past five years to more than 140 technology and innovation projects, with successful winners including Wayfindr and Flit.
Alex Murray, Managing Director and Co-Founder of e-bike company FLIT, previous recipients of the T-TRIG, said:
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.
Nicola Yates OBE, CEO of the Connected Places Catapult, said:
The funding is a key part of the UK’s Future of Mobility Grand Challenge strategy, which is taking advantage of the extraordinary innovation in UK engineering and technology happening today to help the government deliver better journeys for all.
Unique to this year’s grant, the competition has 3 themed elements: Decarbonisation, Age-friendly and Accessible Transport, and Potholes and Resilient Infrastructure, reflecting the Industrial Strategy Grand Challenges and core issues facing the UK’s transport network.