An Innovative AI based end-to-end digital car rental management platform that will reduce contact risk from 500 employees and 10,000 rental customers per year

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**Scope****Summary**Nuvven are proposing solutions for key problems among tier two and three car rental operators. High operational inefficiencies, low utilisation of vehicles, a fragmented solution vendor landscape, poor utilisation of data-driven insights, and an inability to grow smaller businesses are just a few of these key problems. COVID-19 has aggravated this predicament (FT, 2020). Car rental operators are desperately looking to digitise their businesses, reduce operational costs, and create capabilities to offer contactless rental services. This will also allow companies to access new consumers who are looking for alternatives to public transport.**Innovation**Nuvven is the first end-to-end digital car rental management platform that is powered by Telematics and AI to efficiently manage the entire car rental operations, from booking to customer management, fleet maintenance, pricing, reporting, and payments. Building upon their initial MVP and utilising modern design and technology, Nuvven will create a fully digital mobile solution for their customers that will enable safe, no-contact experiences for customers and owners of car rental businesses by equipping them with a mobile app that leverages innovative features, such as keyless entry, biometric customer verification, digital signature, and a fully digitised damage assessment process. Through using the integrated Nuvven platform, car rental operators will also benefit from immediate cost savings, higher fleet utilisation, and revenue maximisation.**Market Opportunity**None of the existing software providers in the market provide end-to-end digitisation or advanced IoT and AI capabilities to deliver fully contactless rental services, something which Nuvven is enabling for their customers.The global and UK annual addressable/serviceable markets are £60--65B/£20--25B and £8--10B/£2--3B, respectively (CAGR: 18.5% 2020--2024; IBIS world car-rental report, 2020).**Alignment to Scope**Nuvven is an SME seeking funding for a sustainable innovation fund project to enhance an existing MVP product, perform customer trials, and obtain user feedback. As per Innovate-UK guidelines, Nuvven plans to utilise this grant to R&D a sustainable and step-change innovation that utilises user experience/design-thinking principles. Nuvven predicts a year-five post-project revenue of £331.1M, with rapid global commercialisation potential, creating 150 UK jobs, regional development, and substantial potential ROI (year-5 post-project revenue/grant received: 352X). COVID-19 has had a direct and critical impact on this industry and the utilisation of public funds will help to substantially benefit and stabilise both this sector and, by generating jobs, respective working communities. Public funding is necessary due to the inherent but mitigatable technological risk of the project.