Startupbootcamp, a London-based global accelerator network, announced the launch of a new Internet of Things (IoT) program for 10 companies in the British capital. The program will offer €15,000 and office space as part of the new startup greenhouse.
The new three-month option will be housed at the 70,000 sq. ft. Cocoon Network Labs in London. The accelerator will not discriminate between consumer IoT companies and industrial IoT startups. Sponsors will include Cisco Investments, DLL, Farnell/element14, HWTrek and MJ Hudson. At the end of the program, startups will pitch at Demo Day on December 7, 2016.
“Over the past 18 months we have worked closely with a number of small and large companies in this space across the globe (from Europe to Asia), and in that time it has become apparent that a dedicated IoT accelerator is needed to help foster the incredible talent we have in Europe, and throughout the world,” said Startupbootcamp IoT | Connected Devices Managing Director Raph Crouan, who also sits on the European Commission’s Alliance for IoT Innovation, in a statement. “We want to help these entrepreneurs solve their unique IoT challenges, whilst giving them the perfect platform from which to take their business to the next level.”
Startupbootcamp also runs similar programs like the Smart City & Living accelerator in Amsterdam, IoT & Data in Barcelona, and Smart Transportation & Energy in Berlin. Other cities like Hong Kong are moving into the space and play host to consumer IoT accelerator Brinc; Thingcubator in Toronto; Springboard IoT (Techstars London); Breed Reply in London; HAXLR8R in Shenzhen; and Industrio in the Italian ville of Trento.
Juniper Research anticipates that there will be nearly 40 billion connected devices by 2020, tripling figures today. Another accelerator might be welcome for London as some aspects of the IoT economy need a pick-me-up in Britannia, particularly wearables. “The main problem is that much of the increase in wearables sales will come from current owners,” said Andrew Farmer of YouGov UK last year. Some companies based outside London say the local wearables scene needs to grow.
“The market (wearables) is there definitely but the players aren’t UK-based,” David Vincent of Scottish wearables startup Loophole told Geektime. “There are a lot of American products, but not British.”
That might be on its way to changing. Those looking to send in their credentials to the program can apply until June 13. The program will start September 5. All participants will join the SBC global alumni network and growth program.