UK to provide $75 million in funding for Internet of Things technologies

UK Prime Minister David Cameron has pledged an additional £45 million ($75 million) in government funds to boost the development of new networked devices and services, the BBC reports. He made the announcement at the opening ceremonies of the CeBIT conferencethis week in Hannover, Germany.

“I see the Internet of Things as a huge transformative development, a way of boosting productivity, of keeping us healthier, making transport more efficient, reducing energy needs, tackling climate change,” Mr. Cameron said. He also announced a plan to develop 5G mobile technology via a collaboration between the University of Dresden, King’s College University in London and the University of Surrey.

Added to previous funding announcements, the new funds bring the UK government’s total IoT investment to £73 million, or about $120 million. According to TechCrunch, the money is divided between the following categories:

  • Future Cities program 2014/15 – £18.5M
  • Enabling Technologies for energy 2014/5 – £3M
  • Connected Freight – £4M
  • Digital Health – £5M
  • Location Based Services – £5M
  • Reimagining the High Street – £6M
  • Secure Remote Working – £3.5M (EPSRC funding)

Exactly how those funds will be allocated is largely up to the UK’s Technology Strategy Board, and will be a continuation of the competitions and demonstrator projects in scope of what they have bee in the past several years (Covergence competition, Ecosytem demonstrator).