If you’re a UK tech SME that is using location, land and property data in your products or services, there’s some good news out of Whitehall this week.
That’s to say applications are being invited to become a part of the Geovation Accelerator Programme and receive the backing and support of Ordnance Survey (OS) and HM Land Registry.
Specifically, any new firms using data produced through mapping and related technologies could be in line to receive expert business support and funding to help them flourish globally.
So, over a 12-month period, all start-ups accepted onto the programme will be able to access a wide range of resources such as access to experienced software developers, geo-spatial expertise from OS, property expertise from HM Land Registry, and mentorship on business proposals and investor relationships. Successful applicants will also each receive up to £20,000 in funding.
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And it may be the perfect time to break into this field – as independent market forecasts indicate the current size of the global geospatial analytics market to be somewhere around $35 billion to $40 billion, with it predicted to grow over the next five years by around 14% to 17%.
Examples of start-ups in the first wave of all this include RenKap, an online marketplace working to alleviate the housing crisis by scaling the delivery of affordable homes, and Watchkeeper International, which uses the latest geo-spatial technology, IoT (Internet of Things) systems and secure cloud services to provide clients with real-time monitoring and alerts for security incidents, natural disasters and supply chain disruptions.
“This new investment is a key part of our modern Industrial Strategy and will mean more start-ups can make the most of this new location-based data technology, helping to create better, higher-paying jobs in every part of the UK,” claimed Business Minister Lord Henley.