Firms share £8m for smart transport and urban infrastructure tech
Thirteen businesses have been awarded a share of Innovate's £8 million fund for their ideas to solve the UK’s urban infrastructure, energy and transport challenges.
This is part of Innovate UK’s 2-year pilot loans programme, through which a total of £50 million is available.
Companies include CitiLogik for its analysis into how people move to identify demand activity and G-Volution for its dual-fuel engines that are cheaper, cleaner and greener.
Catagen will use the money for catalyst emissions testing while Lightfoot will develop connected car technology.
Innovate UK’s pilot programme of innovation loans was introduced to help scale some of the country’s most innovative companies. The programme will do this by helping tackle many of the key issues facing companies with innovative technologies and business models they want to take to market. If successful in the competitive application process, companies can borrow between £100,000 and £1 million.
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