Startupbootcamp, does the shoe fit IoT innovation?

Startupbootcamp, does the shoe fit IoT innovation?

Which way next for IoT startup innovators? The road ahead is beset with challenges, so could accelerator initiatives like Startupbootcamp IoT | Connected Devices be the answer? Image Credit: Adrian Bridgwater

Startupbootcamp, the largest startup accelerator in Europe, is hosting demonstration events now specifically dedicated to examining the Internet of Things (IoT)… could this kind of gathering help fuel innovation and software developer excellence in the IoT space?

Does the shoe fit?

Is the IoT space an appropriate experimentation ground for startups? Do the fragmented standards circling the still-nascent vortex of the IoT put off entrepreneurs? Do the flakey IoT security incompatibilities and inconsistencies make the IoT a dangerous area for startups to dip their toes into?

Well, in a word, no, apparently not.

This (at least on the surface) seems to be the case in light of the Startupbootcamp IoT | Connected Devices being staged in London this January 2017. But what is it, why does it matter and what trends could this point us towards?

Startupbootcamp IoT | Connected Devices

As an event then, Startupbootcamp IoT | Connected Devices is a dedicated accelerator for startups working on smart connected device innovations.

The organization behind this event splits the IoT into two distinct streams:

  1. Consumer IoT — in the shape of wearables, assisted living and connected homes.
  2. Industrial IoT — in the shape of smart environment, smart factories and smart retail.

According to the promo information, the body here provides funding, mentorship, office space in London and access to a global network of corporate partners, mentors, investors and VCs for up to 10 selected Internet of Things (IoT) startups across the globe in a three month program.

The demo day itself represents the culmination of a three month accelerator program and will involve all nine of the IoT device program’s startups pitching their companies and IoT innovations to a room full of investors, mentors and partners.

“In the past three months we have been working alongside nine startups who really are making the future. Each team blends high-quality engineering and technical ability with strong business experience, something which is essential to any startup pushing IoT forward. They’ve worked very hard but this is just the beginning for them. We’re looking forward to supporting them in the coming years and will be working hard in the next few months to help them secure their first round of funding and grow their customer base through successful pilot programmes and corporate partnerships,” said Startupbootcamp MD Raph Crouan.

“Based on what we’re witnessing at Startupbootcamp IoT | Connected Devices I’m expecting to see the internet of things (IoT) advance in four ways this year with more B2B and industrial solutions, better home automation, the next generation of connected devices, and the development of underlying IoT-enabling technology,” added Crouan.

The IoT is all about startups

In reality, the IoT is massively populated with startups. Although we probably hear more about higher level IoT strategy (and, indeed, products) from bigger blue chip names in this space… the IoT itself already has a rich history in terms of its successes.

Firms like Evrything are a prime example. This IoT player went from a two-person startup to a multi-million dollar operation in a comparatively short time period with its Platform-as-a-Service offering for IoT-centric software developers.

For want of another good example (and there are many), look at KisanHub for the farming industry.

KisanHub blends diverse datasets like farm operations records, weather, irrigation, agro-chemical applications, satellite and drone imagery, data about commodities, soil and farm machinery, among others, to provide data-driven decision points. Sounds big picture right? But it was an IoT startup before it was an established company.

You want one more? How about Seamless, the firm was set up by two guys… Dan Frost and Tim Carr (the pair had run a successful digital agency for over a decade). The firm now makes what it calls ‘the car alarm, reinvented’, which allows users to log into an app and see where their car is.

So yes, startups can do pretty well in the IoT space.

Dragon’s Den / Shark Tank promise

Startupbootcamp IoT | Connected Devices promises that it only asks for 6% equity and doesn’t take board seats or get preferred shares.