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Calling All Transportation Innovators – Cash Awards – Yes, Cash Awards – For Transportation Innovation Ideas!

Transportation companies, governments and others are spending big money on technology to realize better, more-efficient transportation solutions. Wouldn’t it be great if there were cash awards or other financial incentives that could help innovators realize these goals? Well, that’s just what’s happening. There are a myriad of public and private competitions sponsoring such challenges and granting cash awards to the winners. Two recent examples demonstrate some of these opportunities.

According to the Surveyor Transport Network, one such example in the UK invites local governments to compete for £10m awards to help ease congestion and reduce emissions. The competition seeks to leverage The Internet of Things to better enhance transportation, and ultimately, boost the economy. The bids must be collaborative and led by a local authority or Local Enterprise Partnership and must result in benefits to the citizens, the region and the environment, among other requirements. The deadline for registration is noon on September 23, 2015 and applications must be submitted by noon on September 30, 2015. See more here.

Another recent innovation award was sponsored by Verizon. This competition, whose deadline recently closed, offered millions of dollars for innovative transportation solutions (awards were also offered for innovations and solutions for emergency response and the Internet of Things). These awards – $1m for first prize, $500k for second and $250k for third – sought solutions in the areas of logistics and distribution, public transportation and other areas. Unfortunately, that deadline recently closed, but this is only one only examples of possible innovation incentives that may be available to inventive innovators. Check out more about Verizon’s Powerful Answers Award and the eligibility requirements here.