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Innovate UK launches a competition for innovative technologies

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the British technology group innovate UK a few days ago announced to double its financial support for blockchain-based projects.

The non-public body of the United Kingdom wants to invest a total 19 million pounds ($26.6 million) in projects that result in new products or services. It involves the areas of “Emerging and Enabling Technologies”, including distributed ledger. The Agency will want to invest an additional 12 million pounds (US$ 16.8 million) in company, win the graduates to develop of their projects.

This notice is the latest initiative by innovate UK, looking for new ideas and projects in the field of Blockchain for a long time. Last July, the authority was looking for pitches by groups that can implement Blockchain tools in health technologies. Previously innovate UK has pledged development a cross-border financial transaction tools a Blockchain start-up 248.000 pounds for the .


applications must comply with the specific scope of the competition. The idea must have the potential to change a variety of markets and generate significant economic growth. The applicants have to submit their proposal until March 28, 2018 and should be guided by a company or a research and technology group. The scope of the projects must be between 35,000 and two million pounds and take at least three months. The project may even be up to three years. Includes the eligibility criteria, that the participating companies capable of are independently contributing 70% of their costs. Briefing events for people held in January and February in Edinburgh, Cardiff and Leeds.

The projects focusing on the distributed-ledger technology, may compete in areas such as machine learning, artificial intelligence, virtual reality, and so on against others. Principle to generate products that lead to increased agricultural productivity, improved food quality, sustainability and improved health.


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