Prop tech start-up wins innovation funding to help reduce impact of COVID-19 on tenants
Birmingham-based prop tech start-up Rent Chief has been selected by Innovate UK, the UK’s innovation agency, to receive funding from a £40m fund competition designed to boost economic recovery from the impact of COVID-19.
The start-up founded by Patrick Shuker and Jon Whitmore, was chosen to receive up to £50,000 from over 8,600 UK applications to extend their innovative property investor platform to enable key property management activities to take place remotely without the need for direct physical contact between the tenant and landlord.
The tools will enable inspections, check ins and check outs to be easily carried out by a tenant using their mobile phone and will be available free of charge for most landlords.
The competition aims to fast-track the development of innovations borne out of the coronavirus crisis, while supporting the UK’s next generation of cutting-edge start-ups.
Companies applied in April to the special fast-track competition, with funds being part of the £1.25bn coronavirus package first announced by the Chancellor Rishi Sunak to help UK businesses driving innovation and development.
Patrick Shuker, founder and CEO of Rent Chief, said: “Following the growing success of our property platform, we are proud to do work that can reduce the spread of COVID-19. The funding win will drive forward innovation that enables landlords to manage their properties more safely and efficiently. It’s great to see that the government is supporting technology start-ups in these challenging times.”
Kurt Wilson, professional landlord, added: “Anything that helps to Increase safety in these difficult times and makes life easier for me will be great for the industry, we look forward to see Rent Chief expand up their offering with these additional tools.”