Cisco Announces Internet of Things Innovation Grand Challenge for Start-ups in Singapore
SINGAPORE, MAY 23, 2014 – Cisco today announced the launch of the Internet of Things Innovation Grand Challenge for Start-ups. This global open competition aims to recognise, promote and accelerate the adoption of breakthrough technologies and products created by start-up businesses that will contribute to the growth and evolution of the Internet of Things.
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 Start-ups will share SG $313,000 in prize money that can be used to jumpstart new and existing businesses that contribute to the Internet of Things industry.
Singapore’s start-up community is an important pillar for the economy and it has grown by a significant 58 percent from 2005 to reach 39,000 in 2013. Through this competition, Cisco seeks to inspire and support the next generation of entrepreneurs and start-ups that are developing technologies in areas of applications, analytics, management and connectivity. Participating start-ups from Singapore will have the opportunity to be mentored by EPIC (Enabling Platform Innovation Centre) at Cisco, a technology centre designed to help showcase innovative technologies in Asia to Cisco’s customers and partners in the region.
The EPIC team will provide these start-ups with mentoring, training and access to business expertise for all their ideas to ensure they have the best possible chance in the global competition. As the participants will retain the intellectual property (IP) rights to their proposed ideas, this competition will provide them with the opportunity to develop, test and pilot new technologies. The EPIC team will also work with the start-ups to jointly develop and market any interesting concepts conceived.
Ideas that are shortlisted will also be showcased in the EPIC centre located at Cisco’s regional HQ in Singapore, with the possibility of being featured in other relevant markets, such as Brazil, Russia and Korea. These ideas will also be profiled on the Cisco Developer Network and the winners will be highlighted on the Grand Challenge and Cisco.com websites. These platforms will help the winners secure potential investment and partnering opportunities in the future.
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 sectors such as government, education, transportation, healthcare, retail, manufacturing and media in Singapore.
The Internet of Things is the technology foundation of the Internet of Everything, defined as the networked connection of people, process, data and things. Cisco estimates the potential impact from this increased connectivity created by the Internet of Everythingto reach up to SG $24 trillion “value at stake” for businesses and governmentsover the next nine years.
Submission for the Internet of Things Innovation Grand Challenge for Start-ups is open from now through July 1 at www.cisco.com/go/iotchallenge. The winners of the competition will be selected during 2014 Internet of Things World Forum in Chicago.
Start-ups in Singapore can contact email@example.com for guidance, technical support and information. Start-ups that are participating in this challenge can also reach out to the EPIC team via email address after the competition to share more ideas in the future.
2014 Internet of Things World Forum
Cisco also recently announced the 2014 return of the Internet of Things World Forum, a global event that will once again 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 second 2014 Internet of Things World Forum will take place October 14-16 in Chicago, Illinois.
At the 2014 Internet of Things World Forum, attendees will once again see examples first-hand 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.
· Joshua Soh, Managing Director for Singapore and Brunei at Cisco
“We believe that the Internet of Things Innovation Grand Challenge brings together the prefect ingredients for breakthroughs to happen – the amalgamation of the Internet of Everything’s immense potential with our start-ups’ entrepreneurial spirit. By providing local start-ups with the necessary technological support and expertise, we hope to spur more businesses to pilot and adopt new technologies to raise their productivity and help Singapore take a step closer to becoming the first smart nation in the world.”
· Rajiv Niles, Director, Innovation Platforms at Cisco in Asia Pacific and Japan
“We are very excited about the Internet of Things Grand Challenge competition and the prospect of working with the innovative entrepreneurs in Singapore to develop solutions for the Internet of Everything economy. I’m looking forward to supporting the vibrant start-up scene in Singapore by mentoring the future tech leaders, providing a showcase for their vision on a global scale and more importantly, driving social innovation in Singapore.”
· Maciej Kranz, Vice President, Cisco Corporate Technology Group
“The Internet of Things is creating a new powerful innovation cycle spanning across technologies, markets and domains. Cisco is working with start-ups, innovators and research communities to foster technology breakthroughs and to accelerate their development and adoption via its global network of Innovation Centres. The Cisco Internet of Things Innovation Grand Challenge is another example of how we are partnering with the industry to fully realise the promise of the Internet of Things.”
· IoT Innovation Challenge Website
· Cisco’s view of the Internet of Everything
· Cisco’s view of the Internet of Things
· Cisco white paper on the Internet of Everything “Value at Stake”
· Cisco white paper: “The Internet of Everything; How More Relevant and Valuable Connections Will Change the World”
· More information on the Internet of Things World Forum, including sponsorship: www.iotwf.com
Tags/keywords: Cisco, Internet of Things, IoT, IoE, Internet of Everything, Internet of Things World Forum
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