According to Gartner, IoT revenue from products and services will exceed $300 billion in 2020. IDC forecasts that the worldwide market for IoT solutions will grow to $7.1 trillion by 2020. Every major player from the software industry is investing in IoT. Platform companies such as Amazon, Google, IBM, and Microsoft are building platforms to enable developers to build IoT solutions. Industry giants like Bosch, Cisco, Intel, and GE are bringing IoT to both consumers and enterprises.
Research has also shown that much of the innovation in the Internet of Things (IoT) is being fueled by young, dynamic companies. In fact, Gartner predicts that by 2017, 50% of IoT solutions will originate in startups less than three years old. And in this era of IoT when everything is interconnected, businesses must support and complement one another through an effective co-innovation ecosystem. Gone are the days of businesses innovating in solitude, says Mike Holt, founding and managing partner, Get2Volume.
No doubt, everyone’s fired up about the Internet of Things but how will this get executed?
IoT Incubator Get2Volume is partnering with MediaTek to find the best and brightest IoT-focused startups. The two companies are putting on a series of Boot Camps, with a focus on finding the most innovative IoT solutions for connected cars, health care, smart buildings, smart cities, smart manufacturing, and the like.
The first boot camp is December 9 in Singapore. The initial batch of IoT companies that have been selected for the IoT Boot Camp are:
- WeSmart: Energy and resource efficiency platform working with smart metering and sensors to gather commercial building usage data and then create programs to engage employees to make behavior changes for resource management.
- trakomatic pte ltd: Empowers retailers to understand about shopper behavior at the brick and mortar store.
- QUBE by INNOVA TECHNOLOGY: Qube™ built the world’s most affordable Wi-Fi enabled, multi-color LED smart bulb for your home
- gridComm: gridComm creates a network over a city power lines and use this network to control street lights, saving cities millions in electricity and maintenance costs
- Glance Clock: The smart wall clock with AI to display data from smart home devices, wearables and web-services.
- ConnectedHealth Pte Ltd: ConnectedHealth’s remote health monitoring solutions allow healthcare, nursing and fitness providers to reduce cost and increase productivity. ConnectedHealth provides scalable and lower cost mHealth solution with Continua-compliant standard communications with range of health measurement devices and health gateway devices
- Sypher Labs: VersaFleet™ is a transport management system as-a-service (SaaS) that empowers fleet owners with advanced routing, driver dispatch and e-signing capabilities.
IoT Accelerator Bootcamp has one key focus – to connect startups with experienced mentors, investors and partners. We plan to do this through a series of workshop and incubation program so to span all stages of growth. IoT Accelerator Bootcamp certainly does not end after December 9, 2015. We view this as just the beginning of a long term relationship helping many of the potentially world’s top founders scale their companies.
We will see how such collaborations between large companies and startups will change how IoT is executed.
The author of this blog is Mike Holt, founding and managing partner, Get2Volume.
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