Smart Data Challenge Prize Opens for Applications (UK)

By Tech East 2 minute read

The UK Department for Business and Trade, in partnership with Challenge Works, the Open Data Institute, and Smart Data Foundry, has launched the Smart Data Challenge Prize. Smart data refers to data that has been filtered, processed, and analysed to provide meaningful insights and drive strategic actions.

This initiative aims to foster innovative Smart Data solutions by offering a prize fund of up to £600,000. The competition is designed to stimulate the development of solutions that leverage Smart Data to empower consumers and small and medium-sized enterprises (SMEs) across various sectors, including financial services, energy, retail, and transport.

Eligible applicants for the Smart Data Challenge Prize include individuals, innovators, entrepreneurs, academia, and civil society, provided they are UK-led.

The closing date for applications is the 14th March 2025 at 23:59.

Ten finalists will be selected in May 2025, each receiving up to £50,000, along with expert mentoring and access to a Smart Data Sandbox for developing and prototyping their solutions. The overall winner will be awarded an additional £50,000 in Autumn 2025, while two runner-ups will receive £25,000 each.

The purpose of the grant is to enhance competition and economic growth by employing Smart Data across multiple sectors to benefit both individuals and businesses. This initiative builds on the success of the Smart Data Discovery Challenge and aims to replicate the achievements seen in the UK Open Banking sector.

https://www.gov.uk/government/news/smart-data-challenge-prize-launches-to-reward-smes

Jim Brown, External Funding Manager, Public Health and Communities, Suffolk County Council

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