A new collaborative project that will support startups and small to medium-sized enterprises (SMEs) in using blockchain technologies has been awarded €5 million funding from the European Union.

Blockstart unites the University of Surrey with SETsquared Surrey, and partners across Europe, to drive small business innovation in the areas of health, logistics and agrifood.

Many SMEs find it difficult to adopt new technologies because the scale of their business is often too small, noted a statement from the university.

Working together, partners will form an international ecosystem of business networks, incubators and blockchain experts. This ecosystem then provides business support, networking opportunities and a testing environment.

SETsquared Surrey will provide SMEs with business development and coaching services, while the University of Surrey’s blockchain test bed will help advise SMEs on technologies and development opportunities.

SETsquared is an enterprise partnership between the universities of Surrey, Bath, Bristol, Exeter and Southampton that nurtures technology-based businesses throughout their lifecycle.

John Collomosse, professor of computer vision at the University of Surrey’s Centre for Vision, Speech and Signal Processing, said: “We are delighted to be part of this collaborative project, bringing our expertise in new technologies, especially artificial intelligence and blockchain, to the table.”

The following parties are initially involved in the Blockstart project:

• Brightlands Smart Services Campus (lead, Netherlands)

• Windesheim University of Applied Sciences (Netherlands)

• Medicen Paris Region (France)

• Eastern Netherlands Development Company (Netherlands)

• Multitel (Belgium)

• BioRegio STERN (Germany)

• University of Surrey (Great Britain)

• Option Public (France)

• ChainPoint (Netherlands)

• Bax & Company (intermediary)

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