BT has partnered with a US firm in a bid to bring UK clean tech firms to market. The telecoms giant aims to use any successful technologies unearthed by the partnership within its operations.
The Plug and Play platform connects technology start-ups and scale-ups with corporations that could use their technology. Its venture capital arm invests in around 250 start-ups directly each year, as well as providing access to some 300 VCs.
Founded in Silicon Valley in 2006, it has since spread around the world. The deal with BT marks its UK entrance. According to BT’s announcement, it will focus on:
- Smart Streets: Insights from environmental monitoring and traffic optimisation sensors which can be easily integrated into ‘street furniture’ like the next generation of BT Street Hub units.
- Smart Buildings: IOT capable solutions supporting energy and water management in social housing and other public sector buildings.
- Remote Working: Uncover ways 5G can be used to support innovative products and solutions that will reduce travel, e.g. using video, augmented reality or virtual reality to carry out remote repair and diagnostics by health and other public sector workers.
BT said it would announce the firms it will collaborate with in Autumn, striking revenue share arrangements or taking a stake in those businesses.