18 digital businesses in East London get government funding

18 digital businesses in East London's Tech City have won up to £100,000 government funding each towards their start-up costs.

The companies now have 12 months to obtain match funding, and can start when they have done so.

The funding is for the companies to develop their ideas for new digital products and is awarded by the  Technology Strategy Board, which runs the Tech City Launchpad pilot initiative.

Among the 18 companies that will each receive funding are Stratus Transport Connections - an online brokerage for road freight that enables small hauliers to work effectively with large supply chain owners, and Unto This Last - a "digital craftsman operating system" for micro-manufacturing furniture on the high-street at the price of mass-production.

The Tech City Launchpad pilot initiative is part of a broader drive to transform East London and the area around the 2012 Olympic Games venues into a centre for high-tech growth and innovation.

Tech City Launchpad works to support the development of the digital and technology industries in East London by supporting business growth, fostering domestic and international investment and encouraging infrastructure development in the area.

Universities and Science Minister David Willetts said: "The Tech City Launchpad competition provides vital support to highly innovative small digital companies."

"The investment will give them the opportunity to grow and transform their exciting ideas for new digital products into reality."

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