The RAPID Challenge has returned for a second year in 2020, beginning the hunt for the best start-ups, entrepreneurs and early stage businesses developing hardware projects.
The RAPID Challenge partners have built a prize package aimed to help realise and accelerate the winning project.
Led by Prodrive Ventures, the hardware investment arm of advanced engineering experts Prodrive, as well as receiving the workshop content all finalists receive, the best projects will share the £50,000 prize package made up of:
- £5K cash prize
- An engineering service package from Prodrive
- An R&D and grant application service package from TBAT Innovation
- Discounted listing fees on Crowdcube
- Patent advice services from The IP Asset Partnership
- An early business legal advice package from Clayden Law
- Editorial coverage from DEVELOP3D Magazine
Standing for Realising Advanced Products through Innovation and Design, the RAPID Challenge has been set-up to help the winner accelerate their development lifecycle and commercialise their hardware product.
To be eligible for the Rapid Challenge applications must fulfil these requirements:
– Be a disruptive hardware project
– Have a sustainable business strategy
– Based in the UK
– Pre-revenue or up to £1M annual revenue – No more than 10 employees
– A proof of concept / prototype
– Demonstrate the potential for commercialisation within 12 months
– Have the potential to or have obtained IP protection.
The application window closes on 3 August 2020.
The 2019 RAPID Challenge
The RAPID Challenge 2019 selected finalists all attended a workshop held in the Said Business School in Oxford, where the applicants received a series of presentations from the Challenge partners each on their specialist topics. They also had the opportunity to speak to the partners directly.
The final of was held in the Prodrive building set to a backdrop of the motorsport heritage collection. The three finalists presented their projects and businesses in front of an audience of investors and other interested parties.
Winners – EAV (Electric Assisted Vehicles)
The winner of the inaugural The RAPID Challenge is EAV (Electric Assisted Vehicles). Their aim is to revolutionise the way urban deliveries are managed through a new generation of zero emissions vehicles.
Since the Final, EAV have begun delivering vehicles to DPD who have included EAVs as part of their vehicle line up.
Runner Up – Actuation Lab
Creators of the composite linear actuator designed to withstand the toughest of environmental pressures in applications where reliability and safety is key.
Since the Final, Actuation Lab have been awarded a large Innovate UK grant to commercialise their technology and develop products ready for industrial trials
Runner Up – Njori
Njori have developed an induction cooking device enabling the user to have greater control and accuracy whilst cooking all with a simple and intuitive user interface.
The application window is between the 1st June and 3rd August. The workshop will be held on 11th September
The Final will be held on 12th November