Our challenge prizes seek to foster inclusive economic growth, opening up opportunities for innovators to harness emerging technologies to solve social problems.
Prizes can play a powerful part in tackling market failure and stimulating growth across different sectors. By mapping market gaps and user needs, challenges can be designed in order to deliver value to under-served groups of citizens, consumers or businesses. By directing funding to products and tools with proven potential, prizes can also reward financial risk-taking on the part of innovators and entrepreneurs operating in uncharted territory.
Tech for growth
The challenges we champion in this area aim to demonstrate the ways that technology can enhance economic productivity, build markets and deliver inclusive growth. Working with governments, foundations and corporate partners, we look for ways to channel investment into emerging high-potential fields, like energy harvesting technologies or blockchain.
Prizes in this domain span the full product development life cycle: from early stage concept, to working prototype, right through to providing a boost to innovative products which are ready to scale across markets.
Explore the prizes we’ve run in this area
Prize fund: Varied
Status: Live Challenges
Open Data Challenge Series
Prize fund: £50,000
Status: Closed Challenges
We are working with financial institutions to scope out a major prize which would incentivise the FinTech sector to develop new digital tools to help the UK’s small businesses make the right financial choices.