New Startupbootcamp IoT Cohort Mirrors Global Trend in Industrial IoT Innovation & Investment

New Startupbootcamp IoT Cohort Mirrors Global Trend in Industrial IoT Innovation & Investment

20-Sep-2017 by Ben Hayes

Back in April we opened applications for our next Startupbootcamp IoT growth program with a particular call out to Industrial IoT, B2B and high-impact startups in areas such as manufacturing, infrastructure, energy, education, the environment, health, agriculture and retail. Fast forward five months and we’re delighted to announce the nine startups who we’ve selected to join our second cohort…

A Shift from Consumer to Industrial IoT

These nine startups are developing Internet of Things (IoT) devices that tackle problems in diverse applications from factory automation and smart farming to driver safety and cybersecurity, and it’s in these areas that we’re seeing the strongest interest from investors, partners and customers. With a few notable exceptions our inaugural IoT cohort in 2016 was dominated by home and consumer-level products, but this year it’s been the reverse.

We’ve witnessed three clear trends:

  1. Many more innovations are attacking the needs of heavy industries such as manufacturing, logistics and agriculture
  2. IoT technology is being applied to ‘high-impact’ areas such as the environment, sustainability and education
  3. More IoT startups are addressing B2B needs (nearly 75% of this year’s applicants were working on B2B IoT devices, compared with just 24% in 2016)

The above shows the spread and volume of applications by country, as well as the top areas startups are working in.

Selecting our 2017 Cohort

Finalising a cohort of just nine startups was a difficult challenge. We reviewed more than 350 startups from 57 countries and invited 18 of these teams to Selection Days last week. Across these days each startup underwent workshops on pitching and value propositions, whilst also benefitting from 1-1 mentoring sessions with our mentors and partners. The end result is that we have a very promising cohort working across a diverse set of applications.

What’s Next?

Our program kicks off on October 16th in London where each startup will be given access to a global network of business mentors, hardware professionals, corporate partners including Cisco and DLL, potential customers, and investors. With workshops, one-to-one sessions and events, each startup will be able to call upon daily support from the Startupbootcamp team on areas including business development, finance and marketing, all in preparation for two key events at the end of the program… Investor Week and Demo Day!

If you want to keep track of the program in the coming months then our monthly newsletter is the best place for this. You can sign up for it HERE.

Ben Hayes