How Startups Are Driving IoT In India
Innovative individuals and start-ups not huge enterprises, will drive growth in the Internet of Things (IoT) through the creation of niche applications, Gartner had said in a recent release, and predicts that by 2017, 50 percent of IoT solutions will originate from start-ups that are less than three years old.
Gartner’s prediction is already coming true. Eight start-up companies from India were identified as the most innovative and successful in the IoT space at the recently conducted “India Internet of Things Week”- 2014. Exilant, Inventrom, Cariq, Altiux, Tagplug, Epsilonelectronics, Cooey and Infozech were the 8 start-up companies that were selected based on a contest with the theme “Link your World” contest powered by UNICOM Learning in association with Intel and IBM was recently organized in three major metro cities including Bangalore, Mumbai and Delhi.
The IoT week also identified and explored how the Internet of Things will re-shape interactions with the real and virtual world in the coming years. The 3 day conference brought together leading IoT companies, start-ups and the developer/ professional community to exchange their ideas with the practical application and utilization of Internet of Things under one roof. It also focused on the ways in which Machine-to-Machine technologies (M2M) and the Internet of the Things (IoT) can be utilized to vastly improve business processes, minimize risk, spur innovation, and drive revenue.
According to the recent IoT policy, government aims to create an IoT industry of USD 15 billion by 2020 in India which will increase national device connectivity from the current 200 million to over 2.7 billion by that time. The number of internet-connected devices (12.5 billion) surpassed the number of human beings (7 billion) on the planet in 2011, and by 2020, Internet-connected devices are expected to be between 26 billion and 50 billion globally.
“The Internet of Things (IoT) may sound like a business buzzword, but in reality, it’s a real technological revolution that will impact everything we do. The main objective of our initiative was to stimulate and promote entrepreneurial drive in INDIA in the area of IoT and help new IoT Product Technology start-ups to emerge. This also included, extending support to the venture from the idea to the launching stage, promoting and rewarding the start-up projects and companies” said Nitesh Naveen, CEO, UNICOM Learning.
This event created a platform for potential start-ups to meet IoT experts to attend keynote presentation, participate in the interactive sessions and network with experienced Business and Technical practitioners from start-up companies involved in production/processing in the area of M2M and Internet of Things i.e. application providers, platform companies, and device manufacturers participated in the conference.
“The Internet of Things (IoT) is a gigantic wave of new possibility that is destined to change the face of technology and IoT is poised to give a whole new meaning to the adage “Work smarter, not harder” added Naveen.
Pete Basiliere, research vice president at Gartner, said individuals and small companies are taking advantage of low-cost electronics, traditional manufacturing and 3D printing tools, open and closed-source hardware and software to create IoT devices that improve processes and lives.
“Product development processes within most large enterprises are too ponderous and ROI-driven to produce anything but high-volume, lowest-common-denominator IoT objects,” he said.
However, he pointed start-ups worldwide are charging ahead with identifying numerous, often niche problems and innovating solutions using IoT concepts. They will drive not only consumer and enterprise acceptance of the IoT, but also the creative solutions that enterprises could not possibly discern, resulting in an “Internet of Very Different Things.”
- Weekly Rewind: Top 10 Stories On CXOToday (Oct 9-13)
- IoT Knowledge Gaps Exist In Consumer Product Industry
- Ericsson Sees 5G Readiness On The Rise
- There's No Stopping The IoT Growth; Here's Why
- Weekly Rewind: Top 10 Stories On CXOToday (Oct 2-6)
- SAP Leonardo To Help Indian Firms With Digital Transformation
- Enterprises See Gap In IoT-ERP Integration: Study
- OTT Gaining Momentum Due To Faster Internet
- 19 Milestones On Google's 19th Birthday
- Weekly Rewind: Top 10 Stories On CXO Today (Sep18-23)