Imaginative entrepreneurs and startups have until 24 November this year to bid for a share of £140,000 of funding to develop new digital ways to tackle rising public transport congestion in London.
Backing the 'IC tomorrow digital economy' scheme are Government-backed enterprise agency Innovate UK and Transport for London and winners will also have the chance to work with major actors such as Atkins.
The four successful bidders will enjoy professional mentoring and promotion and the guarantee that they will retain 100% of the intellectual property rights in their products.
Key areas where TfL is looking for ideas for making better use of its data include 'interesting ways' for best presenting travel information to passengers including new types of display and the use of wearable technology, and advice on changing modes quickly when faced with congestion or delays.
Another aim, drawing on experience gained in The Netherlands, is to help passengers find their way towards less crowded train carriages during rush hours or be advised of a less busy following departure.
IC programme lead technologist Matt Sansam said: 'This contest is seeking out entrepreneurs and small businesses that can address some of the most pressing challenges our urban areas face.'
Shortlisted entrants will be invited to a live pitch, with a view to trials starting in in 2016. The initiative acknowledges the fact that there were half a billion more passenger journeys made in London in 2014 as compared with five years previously.