Strategic partnership based at Geovation Hub will focus on supporting innovation in property technology sector
HM Land Registry and national mapping agency Ordnance Survey have entered a strategic partnership to encourage innovation in the property technology (proptech) business at the former’s Geovation Hub.
The move, highlighted yesterday in a UKAuthority blog by Land Registry’s chief executive Graham Farrant, is aimed at adding fuel to efforts to make the UK a world leader in the land and property market.
Participants in the new pilot programme will receive up to £20,000 in grant funding and a range of resources and services that will help them develop their businesses using data from the two organisations.
The partnership also provides a platform to use the data in promoting the Government’s housebuilding agenda.
Business Minister Lord Prior (pictured) said: “The Geovation Hub is already making important contributions to a wide range of industries, including telecommunications, energy, transport and water management. Location based data has a crucial role in future technology development and innovation from driverless cars to the internet of things.
“The UK has a growing number of new entrants driving innovation in the housing sector. With HM Land Registry joining the Geovation Hub for the pilot scheme, the partnership offers great opportunities to further encourage and invest in the property based technology start-ups of the future.”
The two organisations have previously worked together to support innovation initiatives. In 2015 they staged the Geovation Challenge, a competition to deal with issues facing communities through the use of local information. It led to the award of more than £100,000 to three new ventures – Land Insight, Cityseer and Urban Intelligence – using data from the two to provide new services.
Image from GOV.UK, Open Government Licence v3.0