The Programme is aimed at developers, entrepreneurs and innovators to take their ideas and build them into real businesses.
The Geovation team work closely with the teams and invest funding, resources and developer time to help them build their businesses ready for market.
The Hub itself provides a range of resources geared towards helping them develop their businesses. This includes desk space, coaching and mentoring, access to OS and partner data, developer support, access to software, legal and professional support and other services that can be hard to secure when youÂre first starting out.
The Programme is divided into four phases: Phases one to three are over a period of six months, where Programme members receive a total of £10,000 in funding. If a prototype is successfully delivered at the end of this, phase four kicks in, which is a further six months on the Programme with an additional £10,000 in funding.
For those who are successful in getting to phase four, the Geovation team help to secure further funding and provide go-to-market support to launch the product and make it a commercial success.
Head of Geovation, Alex Wrottesley, says: ÂThere are a lot of places for start-ups to get support in London, but itÂs vital to find a Programme that offers the focused support a business needs. By focusing on our area of expertise weÂre able to offer deep industry and technical knowledge which is unique.
ÂProviding dedicated development resource is something very few places offer and it means the businesses we select can get things started faster and they can move further than they otherwise would have been able to. To the start-up community in general, the Geovation Hub adds a new dimension.Â
Alex continues: ÂOur goal is to establish GeoTech as a concept the same way people think of FinTech. So if youÂre doing something where geospatial data is important to your location, or place, or you want to look at analysis of how things are presented well, you go to Geovation.Â
This month Geovation celebrates one year of being open for business:
- 550 members regularly attending the Hub to use its space and resources.
- 40 SMEs basing themselves at the Hub.
- 11 start-ups through the Geovation Programme.
- Strategic partners include Intel, IBM, DSTL, Nominet, Springwise, OGC, KPMG and Dorsey.
- GeoSpock Â one of the first members of Geovation, using the Hub to build their business and validate what they are doing Â secured £3.5M in investment.
- FATMAP Â came to the Hub in the summer of 2015 needing somewhere to establish themselves and take their 3D ski maps to market. They went live with their product in December and went out to a web summit in Ireland. The team worked closely with FATMAP on their pitch and presentation, which resulted in raising £1M of bridge finance and growing from three to eight employees.
- 3 Crowd Cube successes Â Stay Safe raised £400,000, OpenPlay raised £150,000 and Store Mates is closing in on raising £150,000.
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