GrowthEnabler has announced its GrowthEnabler Scoring System for the Internet of Things (IoT) market in the UK. The rating is revealed in the company’s new Market Pulse Report on IoT, which uncovers key trends and insights on what is rapidly becoming one of the UK’s most innovative technology sectors.
The UK’s IoT market is set to receive £81 billion (US$ 103.90 billion) of investment and create 67,000 jobs by 2020 and the start-ups identified by GrowthEnabler will be fuelling this revolution. The rating includes 21 top disruptive UK IoT start-ups that have the potential to transform the way that we live and do business.
This new research categorises the top disruptive startups into early, mid and late-stage companies, assigning them a GrowthEnabler Score based on core parameters of business success.
GrowthEnabler scoring system – Top companies
Early stage start-up (< 3 years): Den Automation
Den is a developer of light switches and plug sockets that allow users to wirelessly control and monitor their appliances via remote or a mobile app, with real-time scheduling and monitoring capabilities. This also includes parental controls limiting usage for devices to provide increased security.
GrowthEnabler Score: 8.58/10
Mid stage start-up (3-5 years): Cocoon
Cocoon has created an infrasound based home security device that combines high definition camera and motion detection technology to sense activity throughout the entire home. It gets in sync with the unique sound signature of a home and notifies users through its smartphone app in the case of unusual activity. It learns what is and isn’t normal to prevent false alarms, such as when the cat comes in.
GrowthEnabler Score: 9.37/10
Late stage start-up (5-7 years): Concirrus
Concirrus is an intelligent insurance solutions provider, which leverages large volumes of data (from connected sensors) to offer new, customer-centric insurance products.
Its software tools provide insurers with a dashboard that extracts insights and actions to gain a better understanding of customer behavior and assess risk in completely new ways.
GrowthEnabler Score: 8.68/10
GrowthEnabler co-founder, Aftab Malhotra, said: “IoT is one of the most exciting technologies in the world today and the UK startups included in this report are going to be major disruptors across a number of sectors. GrowthEnabler wants to help them to further raise their profile and get the support they need to establish their innovations on the global stage.
“Tech disruption is getting faster every day, and is affecting every individual and every company. Today’s corporates need to know the impact of disruptive technology on their businesses and future-proof their strategies. We’re connecting innovative startups with big businesses that share their vision, to pave the way for these new intelligent devices.”
GrowthEnabler classifies the top disruptive startups under these five core categories:
- Leadership Team – For education, experience and profile relevancy
- Business Traction – For market potential and business model
- Product & Innovation – For the stage of product readiness and end-user value of the innovation
- Financial Strength – For the financial fidelity with revenue and funding
- Social Media & Branding – For the media mentions, awards and social media traction
The GrowthEnabler Market Pulse Report on IoT is available here.
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