GeoSignage was one of eight selected technology or media suppliers, who presented their offers on May 24 for the newly created Infotainment network. The network includes around 15 transport authorities, e.g. Skånetrafiken, SJ, Upplands lokaltrafik and Västtrafik. The other presenting suppliers were Clear Channel, Consat, C-TV, HiQ, Publiq, Thoreb and TV4.
GeoSignage won the Student Prize, worth 28 800 SEK, at the regional final in the business plan competition Venture Cup.
The Jury’s motivation (freely translated from the Swedish original): ”The Leapfrog cheque goes to a company that the jury considers to have big potential to develop and establish itself on a growing market. Mobility and geo-positioning is a current theme and with this company’s technology and service, the public transport and mobile vehicles can easier update and target the right services to the right audience in the right time.
The business idea fulfils Leapfrogs’ criteria for long-term growth potential and novelty and there is a strong entrepreneurial drive behind the case.
The Leapfrog cheque can hopefully help establish the service a little faster on the market.”
Innovationsbron has granted GeoSignage Sverige AB 250 000 SEK in so called “Insats mot Royalty” (approximately “Investment for Royalty”). This means Innovationsbron sees a potential to enter the company as owner in a future financing round. The company will primarily use the funds for marketing and sales.