Cisco Announces Internet of Things Innovation Grand Challenge

KUALA LUMPUR– May 27, 2014 – To further demonstrate its ongoing commitment to drive Internet of Things innovations, Cisco announced the Internet of Things Innovation Grand Challenge for startup businesses. This global open competition aims to recognise, 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.

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

Similar to the Internet of Things Security Grand Challenge that was recently announced by Cisco, 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 organisations. 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.

Internet of Thing World Forum 2014
Cisco also announced the 2014 return of the Internet of Things World Forum, a global event that will once again 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.

At the 2014 Internet of Things World Forum, attendees will once again see 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.

2014 Internet of Things World Forum Sponsors
The second annual Internet of Things World Forum will take place October 14-16 in Chicago, Illinois. The event will once again bring together global leaders, professionals and innovators representing markets such as manufacturing, transportation, oil and gas, utilities, healthcare, sports and entertainment, government, education and retail.

Sponsors of the 2014 Internet of Things World Forum currently include the following companies, with many more sponsors to be named in the months ahead:

Diamond Level: Rockwell Automation, Schneider Electric
Platinum Level: Zebra Technologies Corporation
Titanium Level: Panduit Corp., Siemens AG, TTTech Computertechnik AG
Silver Level: Itron

Internet of Things World Forum Steering Committee Event
The Internet of Things World Forum is guided by a steering committee representing thought leaders from businesses, universities, cities, and governments. This steering committee is united by the goal of shaping the Internet of Things World Forum’s agenda to address top market opportunities and challenges that will influence global, political and environmental issues.

During an event on April 9 and 10, the steering committee will finalize the objectives and success criteria for this year’s Internet of Things World Forum, addressing topics that aim to improve the lives of citizens in broad areas such as health, education, innovation, transportation, job creation and security.