Big Ideas Competition

Project:

Left to right are Connor Bryan and Jacob Eva, Computer Security Students who won a £500 Engineers in Business prize for their innovation.

Liberated Embedded Systems aims to produce embedded systems designed to be repairable and respect user freedoms. Many consumers want to buy from companies that do not abuse their trust and attempt to squeeze out the maximum amount of profit possible from them, but few currently exist. There is a gap in the market for technology that respects users’ freedoms and puts user ownership before profits,  Consumers want freedom, but few tech companies offer it.

Consumers could buy open-source hardware from Liberated Embedded System, which can be easily repaired and extended.   Furthermore, this could encourage more people to contribute to open-source hardware projects and start a movement.

Project:

Fadeke Badejo, Data Science Student, was awarded a £500 Engineers in Business Prize for her innovation, Immiscore.

Carrying credit scores across borders can be a good idea because it allows individuals who move from one country to another to maintain their credit history and avoid starting from scratch. Without the ability to carry credit scores across borders, individuals may find it challenging to obtain credit in their new country, which can have significant implications for their ability to access financial services, obtain loans, rent apartments, and more. The impact of carrying credit scores across borders will depend on the specific implementation and the context in which it is used. However, here are some potential impacts that could result from this idea:

• Improved Access to Credit: Carrying credit scores across borders can improve access to credit for individuals who move from one country to another. By maintaining their credit history and transferring it to their new country, they can avoid starting from scratch and have an easier time obtaining credit in their new country.
• Better Risk Management: Lenders and financial institutions can make more informed decisions when evaluating loan applications with access to an individual’s credit history from their home country. This can lead to better risk management and more accurate lending decisions.
• Increased Financial Inclusion: Carrying credit scores across borders can help promote financial inclusion by ensuring that individuals who move across borders can maintain their credit history and have access to financial services in their new country. This can help reduce inequalities and promote economic growth.