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New funding to develop technology for fairer fares

Bristol company's success in first of a kind in rail SBRI competition

July 20th 2020

Future Space resident Esoterix has secured £380,000 funding to accelerate the development of technology that will underpin fairer fares on rail.

The Department for Transport have awarded the grant through Innovate UK as part of the First of a Kind in Rail 2020 competition.

This project will advance machine learning algorithms to reward regular travellers who exercise flexibility in their schedules to use quieter trains. Under the current model, season ticket holders have carte blanche to use any train, irrespective of how busy trains are. Incentivising quieter services will improve utilisation of all services and aid the smooth running of whole network.

Rail will form the backbone of the UK’s low-carbon, multimodal transport network needed to meet the Government’s 2050 net zero emissions target. But expansion is slow and optimising use of the existing network is essential to accommodate passenger growth.

“This funding will accelerate our work towards a fully automated and scalable product.” says David Stewart, CEO at Esoterix.

“We are excited about the potential of this project to make a contribution to a new era in railway ticketing.”

The project kicked off on 1st July.

January 12th 2021

Future Space Guest Blog: Jack Thompson, Founder of Ginkgo Business Development

Jack joined the advisory_space programme earlier this year as our virtual in-residence Business Development and Sales specialist, providing expert advice and support to the Future Space community. We asked Jack why having a good network is so important for businesses.

December 21st 2020

An interview with Thanh Quan-Nicholls, Lead for the Digital Innovation Fund at UWE

Lead for the Digital Innovation Fund at the University of the West of England (UWE), Thanh caught up with us recently to talk about her role, some of the work the team do to support start-ups and SMEs, and their plans to expand  the business support offering in 2021.

December 21st 2020

Future Space businesses joining the B Corp movement

Five weeks ago, three Future Space businesses joined the B Corp Business Impact Assessment (BIA) cohort with Andy Hawkins. They set out on a 10-week programme to complete their BIA, the first step on the journey to becoming a B Corp certified company. We caught up with Andy Hawkins (Chief Purpose Officer, Business On Purpose) to see how the first half of the programme has progressed.