Encouraged by a potential boost from intelligent vehicles to the UK economy estimated to be worth £51 billion per year and 320,000 additional jobs by 2030, The Department for Business, Innovation and Skills (BIS) is investing up to £20 million to support industry through Innovate UK’s Connected and Autonomous Vehicles competition.

Yesterday, at a briefing and networking event in London, around 200 potential applicants – roughly 60% of whom hadn’t previously applied to Innovate UK competitions – were briefed on how to apply, listened to or pitched ideas for projects, and had the opportunity to quietly chat or eagerly huddle with new connections for potential project collaborations.

In addition, approximately 70 viewed the livestreamed coverage online, and had their questions relayed directly to the BIS and Innovate UK executives involved in implementing Government plans to help UK industry to develop Connected and Autonomous Vehicles.

With around ten awards expected to be on offer, the incentives to apply is obvious in monetary terms, but the end game was directed toward commercialisation.