Innovate UK stumps-up £180k for sharing economy startups

iStock_000039435680_SmallInnovate UK has teamed up with Airbnb and Nesta to give startups in the sharing economy space a chance to win a substantial cash injection and mentoring from industry professionals.

The government’s innovation arm is offering up to 6 SMEs a chance to win £30,000 to develop their sharing economy product. The six areas open for entry are: trust, travel and tourism, construction, DIY, and innovation and data analysis.

Aside from the cash award, startups will get the opportunity to collaborate with industry partners to help bring their product to market. Competition partners include: Nesta, Kingfisher, Airbnb, Crossrail, Peterborough City Council, Cranfield University, and the Sharing Economy UK body.

“The sharing economy is starting to impact many different sectors, but there is still much more than can be done to make the most of this opportunity” says Matt Sansam, Digital economy and programme manager for IC tomorrow. “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”.

Entries for the project close on Tuesday 12 April. Find out more here.

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