Cisco announces IoT ‘grand challenge’ for startups

  • Aims to recognise, promote and accelerate adoption of breakthrough technologies
  • Winners to be selected at IoT meet in Oct; 3 get to share US$250K in prize money

CISCO Inc has announced the Internet of Things Innovation Grand Challenge for startup businesses, a global open competition that aims to recognise, promote and accelerate the adoption of breakthrough technologies and products.
Through the Internet of Things Innovation Grand Challenge, Cisco seeks to inspire and support the next generation of entrepreneurs and startups that are developing technologies in areas of applications, analytics, management and connectivity, the company said in a statement.
Submissions will be accepted from now until July 1 at with the winners of the competition selected during 2014 Internet of Things World Forum in Chicago.
Similar to the Internet of Things Security Grand Challenge that was recently announced by Cisco, three winners of the Internet of Things Grand Challenge for Startups will share US$250,000 in prize money that can be used to jumpstart new and existing businesses that contribute to the Internet of Things industry.
In addition to the cash prizes, Cisco will also provide winners with mentoring, training and access to business expertise from Cisco and other supporting organisations.
Cisco announces IoT ‘grand challenge’ for startupsThe winners will also be provided with the opportunity to develop, test and pilot new technologies, plus potential investment and partnering opportunities in the future.
“We are already in the era of the Internet of Things and the timeline for its widespread adoption is advancing as improvements are made every day in underlying technologies,” said Cisco Malaysia country manager Albert Chai (pic).
“Advances in wireless networking technology and the greater standardisation of communications protocols make it possible for data collection from devices, sensors, and applications through a multitude of platforms.
“This has opened up more avenues and opportunities for innovators and technopreneurs to create and innovate at anytime, anywhere and through any device,” he added.
IoT World Forum 2014
Cisco also announced the 2014 return of the Internet of Things World Forum, a global event that it said would unite thought leaders, business leaders and practitioners in business, industry, government and academia to accelerate the development of the rapidly emerging Internet of Things market.
The 2014 Internet of Things World Forum will be taking place in Chicago, Oct 14-16, at the Hyatt Regency Chicago.
At the 2014 Internet of Things World Forum, attendees will see examples of how the Internet of Things is changing industries worldwide, and hear directly from those who are changing it. Attendees will also hear predictions about how the Internet of Things will affect the global economy, and how it has the potential to address many of the challenges the various markets currently face.
According to Cisco research, over 50 billion devices will be connected to the Internet by 2020, creating vast opportunities for the Internet of Things to transform businesses and industries by re-inventing business processes, operational efficiencies and customer service innovations.
These opportunities exist in markets such as manufacturing, transportation, oil and gas, utilities, healthcare, sports and entertainment, government, education and retail.
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