Cisco's IoT Innovation Grand Challenge
KUALA LUMPUR (24 June 2014) – With just one week left to the closing date of its Internet of Things (IoT) Innovation Grand Challenge, Cisco is actively calling on all innovators, entrepreneurs and startups in Malaysia to submit their entries to its global competition which 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.
The competition, which commenced on 21 April 2014, is an open call for concise, non-confidential proposals that demonstrate a potential idea or solution to advance the state of the art. Participants are required to submit a brief outline of the technological idea, application, product or prototype in English. Open to individuals, teams and legal entities, submissions must be entered into one of five categories; Applications and Application Enablement, Analytics, Management, Networking, or Things. Each submission must also map to one of Cisco’s priority industry verticals that include; Education, Energy, Healthcare, Manufacturing, Oil and Gas, Retail, Smart Cities, Sports and Entertainment or Transportation.
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.
Similar to the Internet of Things Security Grand Challenge that was recently announced by Cisco; three winners of the Internet of Things Grand Challenge 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.
According to Albert Chai, Country Manager, Cisco Malaysia, “We are already in the era of the Internet of Things and the timeline for its widespread adoption is advancing as improvements are made every day in underlying technologies. The advances in wireless networking technology and the greater standardisation of communications protocols make it possible for data collection from devices, sensors, and applications through a multitude of platforms. This has opened up more avenues and opportunities for innovators and technopreneurs to create and innovate at anytime, anywhere and through any device.
The Internet of Things Innovation Grand Challenge will bode well for Malaysia’s aspiration to become a developed digital economy by the year 2020. The challenge will also complement national efforts like Digital Malaysia and the establishment of bodies such as MaGIC (Malaysian Global Innovation & Creativity Centre), 1Malaysia Entrepreneurs (1MeT) and the Malaysian Innovation Agency (AIM).
As Malaysia readies itself to become a high income developed nation, embracing the culture of innovation and entrepreneurship is key. Thus, Cisco looks forward to entries and submissions from Malaysian innovators and technopreneurs as we hope to inspire and support the next generation of Malaysian startups to create the next big thing that will win take the world by storm.”
Interested participants are welcomed to submit their entries at www.cisco.com/go/iotchallenge. Submissions will be accepted till 1 July 2014 Pacific Time and winners of the competition will be selected and announced at the 2014 Internet of Things World Forum in Chicago which will be happening from 14 to 16 October 2014.