Member Article

Government to provide £1m backing to new IoT accelerator programme

Two new Innovate UK programmes aimed at driving cementing the UK’s place at the forefront of the emerging Internet of Things (IoT) market is to receive £1m backing from the government, it has been announced.

The government-backed innovation agency has appointed R/GA Media Group and Startupbootcamp, both of whom are London-based organisations, to help support 20 UK IoT firms accelerate their growth plans and commercialise their technologies.

The Department of Culture, Media and Sport has pledged £1m for the two programmes, which will see UK tech firms benefit from R/GA and Startupbootcamp’s expertise, business support and investor links to develop, prototype and market their IoT products.

It comes as the government looks to push IoT as a pivotal growth area for the UK’s digital economy through its IoTUK programme, which is backed by the likes of Innovate UK, Digital Catapult and the Department for Health.

Following the announcement Matthew Hancock, Minister of State for Culture and the Digital Economy, said: “Government investment in the IoTUK programme is helping develop the next generation of technology that will power our economy and transform people’s lives.

“This latest funding boost will help companies bring their fledgling Internet of Things ideas to market and take advantage of emerging global opportunities.”

Innovate UK’s head of emerging and enabling technologies Paul Mason said that the new programmes would help more tech firms make the jump from prototype to commercial viable product, which was often the hardest transition for any business.

He added: “This carefully targeted funding will help to ensure that UK companies are better placed to take advantage of the rapidly developing Internet of Things market opportunities.”

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