Bosch, Cisco, Hive by British Gas, RPD International and Fab Lab London have joined the likes of EE, John Lewis and Unilever to pledge their support for a £1m Launchpad competition, which will provide support for start-ups working in the Internet of Things (IoT) space.
First announced by David Cameron at the CEBIT conference earlier this year, the Launchpad competition will support Internet of Things early stage start-ups or SMEs based in London and Cambridge.
Winners of the competition, which is the result of a collaboration between Tech City UK, the Technology Strategy Board and Cambridge Wireless, will receive a £1m funding grant to be shared between them, in addition to expertise and business support from the partners.
Hive by British Gas will offer winning companies the possibility of being integrated into their systems in addition to mentoring and business support for shortlisted applicants.
Seb Chakraborty, director of technology, British Gas Connected Homes, commented: “We’re delighted to lend our support to the IoT Launchpad competition and help to develop growing businesses in this exciting sector. With our Hive Active Heating product now in nearly 100,000 British homes, our business is a great example of the Internet of Things in action every day.
“Through the guidance and support we will offer companies on the programme, we hope even more people will see the benefits of connected technology products that make our lives easier.”
Cisco will offer successful candidates access to engineering, marketing and sales experts, while Bosch will offer business, mentoring and marketing support as well as possible investment to any suitable winners.
RPD International has pledged marketing, mentoring and business support as well as the design and manufacturing of the winner’s products. It has also offered a 20 per cent discount on the design and manufacture of products from any shortlisted applicant.
Fab Lab London joins the Internet of Things Launchpad as a venue partner, providing a space and facilities for winners to create their IoT product.
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. Closing date for submissions is 3 September 2014.