Plans to turn Canary Wharf into a test bed for “smart” technologies have taken a step forward with 12 finalists revealed.

The Cognicity Challenge will see the clean tech start-ups move into One Canada Square where they will work on their ideas for 12 weeks.

The finalists include an electric minicab firm, a group that turns walkers’ kinetic energy into electricity and a smart grid company that monitors and controls energy use.

The initiative will initially select 36 companies in total across six streams, which will compete for funding and the chance to trial their technology on the Canary Wharf estate.

One company will be chosen from each stream and will receive £50,000 each as well as the opportunity to pilot their smart city technology.

Mikele Brack, Head of Smart City Programmes for Cognicity said: “The concept of interoperability might be new to some but it has been recognised by many experts as the key to creating a true smart city.

“The Cognicity Challenge aims to move beyond stand-alone solutions, with the technologies developed and piloted during the accelerator creating a fully integrated and interoperable suite of innovations.”