The Geovation Programme is offering up to £20,000 worth of funding, expert technical help and transformational business for innovative and outstanding startup ideas that recognise the value of location.
The programme offers a unique opportunity for developers, innovators and entrepreneurs with bright ideas to be guided through an innovation process that focuses on developing the idea through product creation and commercial realisation, all the while receiving funding of up to £20,000.
The altruistic programme, which runs out of Ordnance Survey’s recently opened Geovation Hub, is believed to be the first of its kind in Great Britain.
Geovation Hub manager, Alex Wrottesley, has had his own successes (and failures) running startups, from launching Real Madrid’s brand in Asia to building an ambitious 3D city platform of London, said: “There are many people out there who have really good business ideas, but who have to give up their evenings and weekends to pursue them, because of the very real need to earn a wage.
“This means ideas progress at a slower rate or are lost altogether, which constitutes a disappointing loss to the economy. “The Geovation Programme levels the playing field for those who cannot afford to take time off to pursue their ideas.
“It offers anyone with the right idea, commitment and passion to take the time needed to make their idea a commercial reality. Through it they can receive up to £20,000 in exchange for a minimum of 20 hours a week at the hub dedicated to working on their idea.
“If they need to top up their income they can take on extra work without it inconveniencing their goals. In addition to funding we provide a full curriculum of innovation modules to help our participants develop their ideas.
“Whether they need access to experts from Ordnance Survey and the wider geo-spatial industry, business mentors to help make their proposals bullet proof or senior developers who can help them build concept proving prototypes and Minimum Viable Products to attract investors and early-adopters alike, we will be there to support them.
“What makes this a special prospect for people is that we do not want or expect a penny back. We just want them to succeed. I don’t think there is anything else out there quite like it.”
In an as yet unpublished report on the UK geo-services industry, kMatrix estimates the direct value of the sector’s activities at £2.2bn, with its wider economic impact estimated at being around £25.9bn.
The closing data for applications to the Geovation Programme is August 1. Applications can be made here