The Connected Places Catapult, funded primarily by Innovate UK, acts as a catalyst for growth and innovation in the Internet of Things (IoT) sector.
Established in the UK, Connected Places Catapult began its journey as one of several catapult centres set up by Innovate UK, a public body sponsored by the UK government’s Department for Business, Energy and Industrial Strategy. These centres were designed to transform the UK’s capability for innovation in specific areas and to promote sustainable economic growth.
Funding and support structure
The primary funding for Connected Places Catapult comes from Innovate UK – this backing not only legitimises its operations but also provides a solid financial foundation to support its initiatives. The catapult works closely with businesses, universities, and other public sector organisations, creating a network of expertise and resources, and this collaborative approach amplifies its ability to drive innovation and growth in the IoT sector.
To understand how funding works with Connected Places Catapult, especially for a smart technology company seeking financial support, it’s important to grasp the role of both Connected Places Catapult and Innovate UK.
Innovate UK and Connected Places Catapult
Innovate UK’s role: Innovate UK is the UK’s innovation agency, a public body funded by the UK government. It provides funding and support for research and development in various sectors, including smart technologies and IoT. Innovate UK is a major source of funding for the Catapult centres, including Connected Places Catapult.
Connected Places Catapult’s function: as one of these Catapult centres, Connected Places Catapult’s role is not just to directly fund companies but to act as a facilitator, connector, and enabler of innovation in the urban and transport sectors. It helps businesses access the resources, expertise, and sometimes the funding they need to grow and innovate.
Mission and objectives
Connected Places Catapult focuses on leveraging IoT and smart technologies to enhance urban spaces and transport systems. Its mission in leveraging IoT and smart technologies is aligned with key sustainability objectives, encompassing environmental, economic, and social facets.
- Environmentally, it aims to reduce urban carbon emissions, enhance waste management and recycling, and monitor and improve air quality through IoT solutions.
- Economically, the focus is on efficient resource utilisation, fostering smart infrastructure development, and stimulating innovation and job creation within the IoT sector.
- Socially, the organisation is committed to enhancing urban mobility and accessibility, improving public safety and security, and actively engaging communities in urban development processes.
How to get funding
For a smart technology company looking to get funding through Connected Places Catapult, here are the typical steps:
- Understand the focus areas: ensure your project aligns with the focus areas of Connected Places Catapult, such as smart cities, intelligent transport systems, or IoT applications in urban settings.
- Participate in programmes and competitions: often, funding opportunities are available through specific programmes or competitions run by Innovate UK or Connected Places Catapult. Keep an eye on their websites and announcements for such opportunities.
- Prepare a strong proposal: when applying for funding, you’ll need a well-prepared proposal that outlines your project, its innovation, potential impact, and how it aligns with the Catapult’s objectives.
- Collaborative projects: Connected Places Catapult emphasises collaboration. Projects involving partnerships with other businesses, universities, or public sector organisations may have a higher chance of success.
- Engage with the Catapult: attend workshops, seminars, or networking events hosted by Connected Places Catapult. Engaging with them can provide insights into their priorities and guidance on the application process.
- Leverage Catapult services: apart from funding, the Catapult offers other forms of support like access to expertise, testing facilities, and networking opportunities. These resources can be invaluable for project development and may complement the financial aspect.
- Follow application procedures: each funding opportunity will have its own application process and criteria. It’s crucial to follow these carefully and meet all requirements and deadlines.
However, while Connected Places Catapult is a key player in promoting innovation in smart technologies, direct financial support to companies is typically channelled through specific programmes, competitions, or collaborative projects, often in conjunction with Innovate UK. The Catapult’s role is broader than just funding; it encompasses enabling access to a network of expertise and resources crucial for innovation and growth in the IoT sector.
Impact on smart technology and IoT companies
Connected Places Catapult plays a pivotal role in nurturing the IoT ecosystem. It provides a platform for startups and established companies to collaborate, innovate, and scale their operations.
- Connected Places Catapult offers a range of services, including:
- Access to state-of-the-art testing and demonstration facilities
- Expert guidance on technology development
- Networking opportunities with industry leaders and potential partners
- Assistance with funding and investment sourcing
Collaborations and Partnerships
One of the key strengths of the organisation is its ability to forge strong partnerships. It collaborates with local authorities, academic institutions, and industry leaders to drive forward its agenda – where these collaborations have resulted in groundbreaking projects that demonstrate the practical applications of IoT in improving urban living.
As IoT continues to evolve, the role of organisations like Connected Places Catapult will become increasingly vital in steering this technological revolution towards sustainable and beneficial outcomes for society.