The United Kingdom Government-backed Transport Systems Catapult has announced it will help create the world’s first ‘Intelligent Mobility Investment Fund’ to pump £50-100m (US$74-148m) into fast-growth technology SMEs (small and medium-sized enterprises) and help give the country 10% of a market projected to reach £900bn (US$1.3tr) in 10 years. The Catapult aims to partner with a major Fund Manager to raise vital early-stage capital for technology innovations that are tipped to drive ‘intelligent mobility’, harnessing ‘smart data’ to transform the movement of goods and people worldwide. The Catapult has already pinpointed cutting-edge innovations with the potential to revolutionize future travel and has identified several ground-breaking early stage SMEs that represent the type of businesses the new fund could support.
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