Funding competition: digital innovation in the sharing economy
Updated 6 April 2016
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Innovate UK is offering 6 businesses up to £30,000 each. The aim of the funding competition is to encourage innovation in the sharing economy. The themes of this competition are trust, tourism and travel, opening up new sectors, home improvement, construction, and data and analytics.
1. The funding competition
We are running this funding competition through our IC tomorrow programme. We are looking for proposals for innovative digital ideas relevant to the sharing economy.
The sharing economy is the use of online technology to help people share assets, resources, time and skills. Competition winners will receive funding and the chance to work with commercial partners. This can help speed up development of new technologies.
We want to see digital solutions with potential appeal to a wide commercial market. We expect successful applicants to trial their proposed solutions with their industry partners. Trials should last for at least 3 months.
2. The competition themes
We are looking for innovative solutions to our 6 themed contest challenges:
2.1 Challenge 1 - Trust in the sharing economy
Partner: Sharing Economy UK Watch Sharing Economy UK challenge video
Trust is one of the main barriers to the wider adoption of sharing economy services. There can be trust issues between businesses and their services and/or between service users.
The trade body for this sector is Sharing Economy UK. SEUK is developing a Trustmark scheme but recognises that digital solutions are also important. That’s why we’re looking for digital solutions or services to help overcome trust issues. The winner of this challenge will pilot their solution with an SEUK member company or partner.
2.2 Challenge 2 - Next generation tourism and travel in the sharing economy
Partner: Airbnb Watch Airbnb challenge video
The sharing economy has already opened up new markets in tourism and travel. A leader in this is Airbnb with its expansion of room provision for a new generation of travellers. But city tourism is still focused on more traditional landmarks and experiences. That’s why we’re looking for new services and offerings that add value to the tourism and travel experience. These will help create a more exciting, seamless and authentic tourism experience. Proposals should show how information can build on collective awareness and sharing of information. The winning digital solution will have the opportunity to trial their service/offering with Airbnb.
2.3 Challenge 3 - New sectors for the sharing economy
Partner: Nesta Watch Nesta challenge video
We are running this challenge in partnership with the leading innovation charity, NESTA. We are looking for innovative digital tools and solutions. These will bring the sharing economy and the principles behind it into new areas and markets. We want to extend the benefits into new forms of service/sharing provision.
We will then trial these in a geographic area or with a relevant demographic or third party partner. We are not looking for ideas in well-developed areas such as ride sharing or pet sharing schemes. Proposals should focus on opening up new commercial markets for the sharing economy.
2.4 Challenge 4 - Sharing innovation in home improvement
Partner: Kingfisher (owner of brands such as B&Q and Castorama) Watch Kingfisher challenge video
The sharing economy is already impacting retail and the home improvement market. Customers are beginning to share inspiration, know-how, skills and tools for home projects. They do this through various emerging online services. The challenge for retailers is how best to engage with these services. A further challenge is how to embed aspects of sharing into their own business offerings.
We are running this challenge in partnership with Kingfisher and its business unit in France, Castorama. We are looking for innovative ideas, services and/or platforms. These will need to add value to the customer home improvement experience. The Kingfisher team will support the winning company to help them progress their innovation.
2.5 Challenge 5 - Sustainable construction
Partner: Crossrail Watch Crossrail challenge video
Major construction projects face huge efficiency and sustainability challenges. These include dealing with complex works, contractual arrangements and supply chains. The construction industry is one of the UK’s largest waste contributors. Work is ongoing to reduce this waste but finding innovative ways to reduce this further is a priority. We are running this challenge in partnership with the major railway project, Crossrail.
We are looking for digital solutions to make the industry smarter and more sustainable. These solutions should focus on improving the supply / delivery / reuse of materials and equipment. They can also focus on improving aspects of the planning processes. This can encourage more efficiencies and the reuse of waste materials and equipment.
2.6 Challenge 6 - Data and analytics for sharing economy cities
Partner: Peterborough City Council and Cranfield University Watch Peterborough City Council and Cranfield University challenge video
Cities can play an important role in the development of the sharing economy. They can provide services and also enable other services to develop. Cities have a lot of data ranging from health and housing to the environment and the economy. The challenge for cities is how to make best use of the available data.
We are running this challenge in partnership with Peterborough City Council and Cranfield University. We are looking for a digital solution that can make use of available datasets in innovative ways. Analysing and/or visualising data will help us to understand the existing local sharing economy. It will also help to improve it.
3. Find out if you are eligible to apply
To apply for a £30,000 award you must:
- be a company based in the UK or EU
- propose a solution that responds to one of the challenges
- propose a solution that is innovative in a creative, technical or commercial way
- propose a solution that has wider market potential beyond the challenge partnership
- be clear about your solution’s revenue-earning potential
- identify a target market of your proposed solution
- have a specific product, platform or service in mind, even if it is only at the idea stage.
You don’t need to have an existing app or service, or be currently active in the sharing economy.
4. Competition dates
| Contest opens | Monday 7 March 2016 |
| Briefing event | Wednesday 16 March 2016, London |
| Submission deadline | Noon 12 April 2016 |
| Finalists notified | Friday 6 May 2016 |
| Practice pitch sessions held in London | Tuesday 10 May 2016 (for all finalists) |
| Practice pitch sessions held in London | Monday 16 May 2016 (one-to-one sessions) |
| Practice pitch sessions held in London | Tuesday 17 May 2016 (one-to-one sessions) |
| Final panel session | Thursday 26 May 2016 |
| Winners announced | Friday 3 June 2016 |
| Trials launched | spring 2017 |
5. How to apply for funding
You can submit more than one entry across different challenges in this contest. We can fund only one solution from each company. To find out more about the competition:
- once the competition is open, you will need to apply through our _connect platform.
- download the Guidance for Applicants to get more details about this competition
- attend a briefing event to find out about the challenges from the challenge partners
View the 16 March 2016 briefing event recording.
If you need more information you can contact the competition helpline on 0300 321 4357 or email us
6. How the contest works
The contest is a 2-stage procurement process. For stage 1 you will need to complete an application form. You will also need to make a 2-minute video presentation of your idea.
We will select up to 18 entries to go through to the next stage. Stage 2 involves a live pitch and Q&A to a panel of judges who will make the final decision on which solutions to fund.
6.1 Stage 1
Applicants can apply from Monday 7 March 2016. You will need to:
- Complete the online application form. You can save a part-completed application. You can also update, finalise and submit the form when you are ready.
- Upload a 2-minute video as part of your application. Note that we judge the video on the strength of your idea – not the production quality.
- Submit your completed application form before noon on Tuesday 12 April 2016. We will not accept late submissions.
Video entries by successful contest applicants have included a mix of:
- pitching to camera
- animations
- example footage of the proposed solution
They also highlighted how their idea met the contest challenge. We do not expect you to share any intellectual property or confidential information.
Videos and written applications will remain confidential. A panel of expert assessors will review your ideas. They will select a shortlist based on how well they address the contest criteria. From that shortlist an internal panel will choose up to 18 finalists to go through to stage 2.
6.2 Stage 2
Stage 2 will involve a panel session held on Thursday 26 May 2016.
You will have 10 minutes to present their ideas and take part in a Q&A session with the contest panel. This panel will include the challenge partners. The panel will select up to 6 winning companies, one from each challenge area.