There are always a number of competitions that UK start-ups can enter, and two current ones are aimed at new firms working on innovative ideas for the technology and automotive supply chain spheres.
Volkswagen Financial Services (VWFS) has launched its second annual competition called ‘Battlefield’, which is looking for entrants in three categories – credit and customer finance, ‘disruptive’ mobility services and value-added services and products.
The credit and customer finance category covers underwriting automation, due diligence, payment processing and contract management. The mobility services category is based around peer-to-peer, car sharing, the shift to usership and on-demand services.
Finally, entrants in the value-added services and products category could be working on telematics, accident prevention and assistance to insurance and delivery services.
Last year the winner was Parkbob from Austria, a parking spot locator app. This year the winner will receive a non-equity cash prize, a stand at the Web summit tech conference in Lisbon and the chance to collaborate with VWFS to develop products further.
Meanwhile, a separate competition sponsored by Deloitte UK is looking for the 50 fastest growing technology companies in the UK based on the last four years of revenue growth.
Last year’s Fast 50 winners generated cumulative revenues of £960 million in 2016/17, and employed more than 9,000 people in the UK, including 1,800 people in research and development alone.
With a record-breaking four-year revenue growth rate of 107,117%, last year’s winning entrant was online food courier service Deliveroo. In the twenty-year history of the Fast 50, no other company has ever grown at a faster rate, so the challenge is on.
The VWFS competition ends on 8 July, while the Technology Fast 50 closes for nominations on 7 September.