A new partnership aims to drive the UK’s movement towards becoming an international leader in the property and land market.
Announced by Lord Prior, the collaboration between HM Land Registry and Ordnance Survey will see the organisations come together at the OS Geovation Hub, with HMLR supporting its property technology businesses.
Based in London at a location-data lab, Geovation assists and enables collaboration and innovation in numerous sectors. Growth and appealing to the innovation community is the main focus, with an aim to increase the use of land, property and location data.
Commenting on the new strategic partnership was Business Minister, Lord Prior. Highlighting the growth of innovation in the housing sector, he stated: “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 (PropTech) start-ups of the future.
“It also provides a platform to promote the use of data from both Ordnance Survey and HM Land Registry to deliver the Government’s housebuilding agenda as part of our Industrial Strategy.”
Up to £20,000 of grant funding will be available to those taking part in the pilot scheme, along with a range of resources which could aid business development. In addition, Geovation will offer businesses a range of other supportive services such as expert geospatial guidance, access to experienced software developers and property expertise. Mentors can also provide advice on relationships with investors and business proposals.
The organisations first came together in 2015, hosting the yearly Geovation Challenge competitions which aim to tackle problems communities face by utilising location data. A sum of £100,000 was presented to three fresh businesses, each of which used HMLR and OS information to make a positive difference in the housing industry. The organisations hope that this new partnership will spark the creation of more successful ventures.
Commenting on the collaboration was Graham Farrant. The Chief Executive and Chief Land Registrar of HM Land Registry outlined his expectations and the anticipated benefits it would bring.
This is an exciting partnership. Through combining our geospatial and property expertise, HMLR and OS will be supporting and encouraging disruptive forces in the PropTech and GeoTech markets. We expect to see benefits of this investment across the legal, financial and property sectors, stimulating growth for the wider economy and bringing more opportunities to the UK.
Also sharing his thoughts on the partnership was CEO of Ordnance Survey, Nigel Clifford. He stated: “We’re delighted to welcome HMLR as a strategic partner in Geovation. Over the past decade, OS has led the way in making it easier for businesses to use its data and open data products. Through Geovation we’re developing new models to encourage innovators, entrepreneurs and companies that are building the next wave of ground breaking GeoTech businesses. We’re looking forward to collaborating with HMLR to develop the same for PropTech.
“This month the Geovation Hub also celebrates two years of being open for business. In that time, 18 start-ups have been supported through the Geovation Programme, and more than 900 members have used the Hub’s space and resources. Strategic partners have included Intel, IBM, DSTL, Nominet, Springwise, OGC, KPMG, and Dorsey.”
