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Home Business Digital & Technology

Finalists of the 2024 IoM Innovation Challenge revealed

April 8, 2024
in Business, Digital & Technology, Isle of Man
Sylwia Karch and Rebecca Glassey of SQR IoM Innovation Challenge 2023
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Sixteen businesses from across the globe will face their industry peers on the 13th June, as they present cutting-edge solutions at the Isle of Man’s ‘Innovation Challenge: Finale’ at the Comis Hotel.

The Challenge, aimed at promoting innovation and collaboration in a biosphere attracted a diverse range of applicants. Over 50 applications were received from 20 countries

Following a rigorous selection process, 16 finalists from countries such as the UK, Australia, Singapore and the USA were selected; offering solutions to some of the Island’s pressing needs within FinTech, Data & AI and Cleantech. In the lead up to the Finale day in June, finalists will be provided with tailored mentoring and support from the Island’s business leaders, as well as networking opportunities with industry peers as they bring their solutions to life.

Hon. Tim Johnston MHK, Minister for Enterprise said: “With the Isle of Man as a thriving hub for global innovators, we’re thrilled by the diverse and ambitious applications for our most extensive Innovation Challenge yet. Our Island’s dynamic ecosystem—bolstered by a supportive business community and experienced mentors – promises a rich landscape for pioneering solutions addressing sustainability, technology and financial challenges.

“As we welcome this cohort, we’re excited to foster groundbreaking ideas aimed at driving technological advancements in the Isle of Man.”

The competition will culminate at a finale event on the Thursday 13th June, during which finalists will have the opportunity to present their solutions to an expert panel of judges, digital technology businesses and wider industry.

The event will include notable speakers from the industry and will be attended by key professionals in the financial, business, tourism and digital industries.

Winners in each category will receive local and international promotion and publicity, in addition to extended access to the Isle of Man’s marketplace. This includes mentors, potential investors, and customers from various sectors, as well as regulators and government officers, for six months.

As the Isle of Man is also a UNESCO Biosphere, a special prize aligned with its biosphere status is also to be awarded.

Attendee registration for the Innovation Challenge: Finale will open on Thursday 9th May, with the event taking place at the Comis Hotel.

Click here for further information about the Isle of Man Innovation Challenge.


Finalists

Location

Solution description

Fintech category

Umazi UK Transparent ethnically verified business identity
Mutual Credit UK “Local Loop Isle of Man” – localised supplier clearing system
Thomas Murray UK Building a safer IOM “Community” response to from cyber risk assessment
Moroku Australia The Isle of Game – gamification of Financial services front ends
Gatenox Poland Corporate Register 3.0 – DAO

Data & AI category

Acentrik (Mercedes-Benz) Singapore AI for Gov – Establish a secure data exchange ecosystem, enabling organizations to harness their data with full control and privacy, creating new business models and opening the gateway to AI-driven innovation
Intelligage USA Creating a taxable AI Workforce
Deloitte UK Business & Sentiment Intelligence as a Service
Ailuna Denmark Gamified sustainability & cybersecurity behaviour change for consumer services
Raidiam UK Easy access to joined-up Government Services – Governmental data trust framework
4Learn Singapore PLAI – Personalised Learning AI – Unlocking human potential through precision and customised learning

Cleantech category

Re-Universe UK Cup and other retail packaging return and reuse system
ReVend UK Bottles return and recycling system
Apneatech UK Sleep Apnea low cost reusable testing system
Eyesea New Zealand Revolutionising Pollution Management With Eyesea – pollution reporting
Gridsight Australia Data Driven Power Grid Management

Main picture shows Sylwia Karch and Rebecca Glassey of SQR, category winners in 2023 [Photo credit: Digital Isle of Man].

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