Internet of Things innovation is getting a big boost in Europe and the Middle East. This week Cisco, Intel and Deutsche Telekom launched a joint effort called “Challenge Up” to encourage startups in the IoT space. The program was unveiled at the Mobile World Congress in Barcelona.
Open to companies in Europe, Africa and the Middle East, the program seeks to bring startups to market faster by encouraging joint projects, mentoring, high-value networking and shared corporate assets.
“With an expected 50 billion things connected to the Internet by 2020, the Internet of Everything opens up great opportunities,” says Mike Flannagan, vice president of data and analytics at Cisco. “To help better address these opportunities, Challenge Up brings together the best of the technology world in an ecosystem of open innovation.”
Selected companies may also receive strategic investments and support commercializing their product or service for global markets. The program will focus on connected and smart solutions like smart homes, smart cities, wearable devices and connected cars. It will also consider projects involved in big data, analytics, connectivity and cloud computing.
Some of the participants in the program will demonstrate their concepts during TURBO Acceleration Week, to be held June 22-26. A four-month incubation program will take place between July and October in Krakow, Berlin and Vienna.
Applications for Challenge Up are being accepted until May 25. Click here to be considered for the program.