News story

Gaining value from data: apply for business funding

Businesses can win up to £35,000 for innovative projects for data analysis in education, finance, advertising, sustainability and travel.

Innovate UK’s IC tomorrow programme is seeking innovative digital ideas that can gain new value from data through the use of artifiicial intelligence, machine-learning and sensor-led technologies.

Up to 6 businesses could each win £35,000 for a potential solution to one of 6 challenges across the themes of education, finance, advertising, sustainability and travel.

Businesses will have the opportunity to work alongside partners including IBM Watson, Carnival Corporation, London City Airport, Office for National Statistics, Barclays, and NMP with bathstore.

Challenges

Proposed solutions should explore ways of harnessing novel data analysis techniques to address challenges in:

  • cognitive learning systems: harnessing the capabilities of cognitive computing to help with the delivery of teaching, learning and assessment, in partnership with IBM Watson
  • marine travel incident detection: improving on-board situation awareness and incident detection, response and recovery using sensor-led digital innovation, in partnership with Carnival Corporation
  • connected airport: using sensor-led technologies, data analysis or artificial intelligence processes and techniques to enhance operations of airports, and their services and facilities, for staff and passengers, in partnership with London City Airport
  • sustainable development insights: digital solutions that help to stimulate new value from data analysis in areas of critical importance for humanity and the planet, in partnership with Office for National Statistics
  • automated asset management: techniques and processes based on machine learning, data modelling and predictive analysis for future asset market movements, which simplify and enhance investment practice suited to individual investors’ personalities and requirements, in partnership with Barclays
  • enhanced paid search: data analysis processes and machine learning techniques that improve the impact assessment of above-the-line advertising and online search, in partnership with NMP and bathstore

Competition information

  • this competition opens on 2 November 2015 and applications must be submitted by noon on 15 December 2015
  • the competition is open to businesses in the UK or EU
  • up to £35,000 is available to develop the successful project under each challenge
  • businesses can trial their ideas with industry partners while keeping their intellectual property
  • a briefing event will be held in London on 3 November 2015