Proposals sought for research and development projects in harnessing data

04 Aug 2010

Project proposals will be sought in the following two broad areas:

Harnessing diverse data sources - such as ways to model and assess the value of data to a business, novel approaches to integrating internal and external data sources, and ways to monetise and share data assets across organisations;
Making sense of 'big data' - such as new or enhanced algorithms that significantly speed up data analysis, novel visualisation technologies that put complex and 'big data' in the right form to be easily understood and explored.

The UK has world-class strengths in many areas of relevance to data exploitation and is well-placed to take a lead in harnessing large and diverse data sources.  While many businesses are highly data-driven, using internal data generated by their own activities, external data sources present huge opportunities for business - especially new and small enterprises that may not have built up significant internal data assets.  The estimated indirect value of public data alone is between £10 billion and £100 billion.  The potential value of other external sources of data could be at similar levels.

The competition opens on 13 September 2010 and expressions of interest must be submitted by 21 October 2010.  Full proposals must be submitted before the competition closes on 16 December 2010.  Projects are expected to last for no more than 18 months and Technology Strategy Board investment in each project is likely to be between £100,000 and £500,000 (though projects outside this range will be considered).

Editor's notes

1. The Technology Strategy Board is a business-led executive non-departmental public body, established by the Government. Its role is to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth and improve quality of life. It is sponsored by the Department for Business, Innovation and Skills (BIS). For more information please visit www.innovateuk.org.

2. Further information about the Harnessing Large and Diverse Sources of Data funding competition will be available shortly through the Competitions page of the Technology Strategy Board website:  http://www.innovateuk.org/competitions.ashx.

3. Companies and other organisations seeking information about the Technology Strategy Board's funding competitions should visit the Competitions page of the Technology Strategy Board website - http://www.innovateuk.org/competitions.ashx, email competitions@tsb.gov.uk, or phone the Competitions Helpline at 0300 321 4357

Media contact: Nick Sheppard, Media Relations Consultant, Technology Strategy Board.  Tel: 07824 599644, Email: nick.sheppard@tsb.gov.uk.

 

Last updated on Tuesday 10 August 2010 at 11:43

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