TfL launches retail innovation competition
Written by Peter Walker
Transport for London (TfL) has launched a new innovation competition, challenging businesses to come up with technological concepts that will reimagine the use of physical space in retail and deliver unique customer experiences for those using the transport network every day.
Winners will get the chance to pilot their concepts in reality, as TfL will provide them with retail space on its estate for a year - with a value of up to £100,000 - as the prize.
Being one of London's largest landowners, with more than 2,000 commercial units across its estate - including around 800 commercial railway arches and meanwhile spaces - TfL stated that it supports a range of businesses.
The competition builds on TfL's history of working with innovative brands, such as online street trading platform StreetDots, which lets traders use a smartphone app to choose a pitch or 'dot' for a few hours at a time.
Graeme Craig, director of commercial development at TfL, said: "The competition showcases to businesses, which might not otherwise consider it, how they can utilise our retail space in exciting ways and builds on our history of supporting businesses to grow and expand what they can offer to our customers.”
Rikesh Shah, head of commercial innovation at TfL, added: “This is one of a number of new approaches to innovation we are taking in TfL to access the value and creativity from innovative companies in London.”
The deadline for entries is 21 June. Entries will be evaluated against a range of criteria before being shortlisted. The shortlisted companies will then be invited to present their concepts in front of a judging panel.