The world’s first Traffic Foundation has been launched today by TomTom in a bid to tackle congestion, which cost the UK economy billions of pounds a year.

The move, one year on from TomTom’s commitment to reduce congestion for all in its Traffic Manifesto, will bring together key stakeholders from academia, industry and policy-making.

The not-for-profit TomTom International Traffic Foundation will nurture talent in the field of traffic management, funding PhD and post-doctorate research, publishing research papers and hosting a number of traffic-related events.

“The impacts of congestion on businesses are manifold, from increasing journey times, mileage and fuel costs to reducing productivity,” said Giles Margerison, director, UK and Ireland, TomTom Business Solutions.

“At TomTom Business Solutions we provide the tools for business to minimise the impact of traffic so that drivers spend their time effectively and productively in their vehicles. Our continued commitment to this is the TomTom International Traffic Foundation.”