Cisco Announces Internet of Things Innovation Grand Challenge

12th April 2014 | By Mouseworld Now Correspondent |

SAN JOSE, Calif., April 12, 2014: Cisco has announced the return of the Internet of Things World Forum 2014. The global event will 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, October 14-16, at the Hyatt Regency Chicago.

The 2014 Internet of Things World Forum will provide attendees examples firsthand 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.

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 Everything to reach up to US $19 trillion “value at stake” for businesses and governments over the next nine years.

Cisco also announced the Internet of Things Innovation Grand Challenge for startup businesses. This global open competition aims to recognize, promote and accelerate the adoption of breakthrough technologies and products created by startup businesses that will contribute to the growth and evolution of the Internet of Things.

Cisco seeks to support the next generation of entrepreneurs and startups that are developing technologies in areas of applications, analytics, management and connectivity through the Internet of Things Innovation Grand Challenge. Submissions will be accepted beginning April 21 through July 1at www.cisco.com/go/iotchallenge with the winners of the competition selected during 2014 Internet of Things World Forum in Chicago.

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 organizations. The winners will also be provided with the opportunity to develop, test and pilot new technologies, plus potential investment and partnering opportunities in the future.

 “The Internet of Things is creating a new powerful innovation cycle spanning across technologies, markets and domains,” said Maciej Kranz, vice president, Cisco Corporate Technology Group. “Cisco is working with startups, innovators and research communities to foster technology breakthroughs and to accelerate their development and adoption via its global network of Innovation Centers. The Cisco Internet of Things Innovation Grand Challenge is another example of how we are partnering with the industry to fully realize the promise of the Internet of Things.”

 

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