IoTA Wales Accelerator program offering £50K for IoT startups

IoTA Wales (Internet of Things Accelerator Wales) is a new accelerator program launched in Wales, U.K to provide IoT startups financial backing, access to business network and knowledge sharing.

The program is co-launched by Innovation Point, The Accelerator Network, Barclays Eagle Labs, Inspire Wales and the Development Bank of Wales. The program’s main aim is to help fund and grow small IoT startups looking to bring their products to market or grow their startup.

The program will select 10 companies per cycle and inject £50,000 against 10% equity in the startup.

Each startup also gets access to paid mentors who will guide them towards product/service commercialization and other important milestones. Each of the admitted startups also receives engineering support from Sony Manufacturing and Cardiff University, test-bed and gateways from Pinacl, and membership of Tech UK.

Apart from initial support in kind and cash, the startups will also get a chance to raise follow-on funding in April, 2018.

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IoT accelerator programme IoTA Wales launches

IoT accelerator programme IoTA Wales launches

A new IoT accelerator programme, IoTA Wales, has launched, promising start-ups access to financial investment, knowledge and networking.

A new accelerator, IoTA Wales, has launched and is on the hunt for business to fund. It is looking to identify and support up-and-coming IoT businesses in key areas such as cyber security, energy, manufacturing, education and agriculture.

The program has been jointly created and designed by The Accelerator Network, Innovation Point, Barclays Eagle Labs, Inspire Wales and the Development Bank of Wales.

It plans to award ten of the businesses identified £50,000 of investment money each, in exchange for 10 percent equity stakes in the companies chosen. In addition to this £50,000 investment, participants will each also receive support valued at over £70,000, which includes training and mentoring, office space at the new Barclays Eagle Lab in Cardiff, engineering support and inclusion on a ‘demo day’ designed to introduce them to sources of follow-up funding, scheduled to take place in April 2018.

Major organizations already signed up as delivery partners on the 12-week programme include Sony, Airbus Group Endeavr Wales, Cardiff University, Sorenson Media, Business Wales, TechUK, Pinnacl and RS Labs amongst others.

Read more: Cardiff researchers to lead ‘chatty’ factories project

Wales – the IoT place to be?

A recent Tech Nation report finds that Wales has the fastest growing digital economy outside of London. The Cardiff/Swansea tech cluster creates £392 million annually in GVA [gross value added], employs 17,000 people and saw 103 start-ups launched last year.

The organiser of London’s biggest IoT meet up, Alexandra Deschamps-Sonsino, claims that Wales has a competitive advantage over London that it will need to capitalise on in order to make the most of the commercial opportunities available.

She said: “You can make a profitable business in this space by manufacturing just 5,000 pieces and, through the production of the Raspberry Pi, Wales has the manufacturing capability which we just don’t have in London. That bit is potentially the hardest piece of the jigsaw.”

Secretary of State for Wales Alun Cairns said: “Wales is a dynamic nation that is home to some of the most innovative companies in the world.”

“As we prepare to leave the EU, I want Welsh innovators to seize the opportunities available to expand their companies and help us trade on the global stage.

There’s certainly plenty going on in Wales on the IoT technology front already. In the last week alone, Internet of Business has reported on Cardiff University’s ‘chatty’ factories project and the city council’s aim to save money with smart street lighting.

Applications for IoTA Wales are now open, with a deadline of midnight on Saturday 9th December 2017.

Read more: Cisco and Manchester Science Partnership open Mi-IDEA centre

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Healthcare and housing companies among seven in Scottish startup IoT accelerator programme

CENSIS, a centre of excellence for sensor and imaging systems technologies, has organised its first Internet of Things (IoT) Explorer programme in order to boost IoT adoption by businesses, with seven Scotland-based SMEs and startups winning a place in this programme.

The successful companies include detainees’ health monitoring technology developer Angel Monitors, Attis Fitness, which creates smart sportswear which when combined with an app, tells the runner regarding their performance and reduces the risk of injury, and Safehinge, producers of doorsets and door components for mental health environments.

Healthcare operator Beringar has won support to develop its sensor technology that can help hospitals make better use of moveable assets and facilities. iOpt Assets is the interim of developing an Internet of Things (IoT) technology that will allow landlords to monitor conditions in social housing and identify problems, if any, such as damp or fuel poverty, for residents.

The last companies involved are a joint bid from DeuXality and Stonnivation, and SussMyBike. While the former are developing an app that will allow mountain bikers to share their trails and times with other riders in remote locations, the latter, SussMyBike, has developed a Bluetooth-enabled, IoT device for real-time evaluation and optimisation of bike suspension – the company said the technology could be extended to a range of other vehicles.

The engineering and project management team at the Scottish Innovation Centre for Sensor and Imaging Systems provide the winners up to 20 days’ support. The winners also receive access to facilities at Tontine incubator at Glasgow, entry to CENSIS’s IoT workshops, and assistance in developing an investor pitch.

“These businesses demonstrate that a wide range of organisations are embracing what the IoT has to offer,” said Dr Mark Begbie, business development director at CENSIS. “Not only are they new and innovative ideas, but many of them tackle fundamental social challenges we face today.” Latest from the homepage

Sinergia Tech finds investors for first Latin American hardware accelerator

Montevideo cityscape  from port district

Uruguay — best known for its art deco buildings and many steakhouses — will now add leading tech hub to its many great titles.  

Sinergia Tech raised $ 500,000 to launch the very first hardware accelerator in Latin America. The firm, known for its technological development, digital fabrication, and prototyping laboratory, can offer a unique environment for aspiring hardware startups.

See also: Readwrite Labs launching their new incubation program

The accelerator, based in Montevideo, Uruguay, plans to fund close to 500 tech startups with a focus on IoT, smart cities, smart agriculture and smart hemp.  The chosen startups will receive investment sizes of between $ 25,000 to $ 100,000. 

Montevideo is looking to position itself as a melting pot for tech leadership due to its highly sought-after tech talent, free exchange market and a stable social, legal and political environment.

First cohort will have 20 startups

Sinergia Tech will be selecting 20 startup finalists into the first batch, with a goal of choosing 5 winners to continue the program and assist with international growth.  A network of 15 local mentors, as well as more than 80 international profiles, will form a support network to assist the startups.  The mentorship of these startups will include personalized feedback, and a tailored approach based on the needs of each team.

The startups chosen to participate in the accelerator will have access to state of the art equipment — such as a laser cutter, 3D printers, CNC router, circuit printer, cut plotters, and traditional tools.  Moreover, startup teams will also have access to robotics and electronics gear. 

The goal of Sinergia Tech, aside from creating a hardware accelerator to assist entrepreneurs and startup teams within the hardware space; is to empower young men and women by helping them achieve their dreams.  By doing so, Sinergia Tech hopes to motivate and inspire others to take up the entrepreneurial journey.

Entrepreneurs and startup teams requiring more information should visit Sinergia’s website.

The post Sinergia Tech finds investors for first Latin American hardware accelerator appeared first on ReadWrite.


Alchemist Accelerator gets $2 million from GE to Fast-Track Industrial IoT startups

Alchemist Accelerator, the accelerator dedicated to funding enterprise startups raised $ 2M from GE Digital. Alchemist will use the funds to start a new program for industrial IoT startups.

“Industrial applications and next gen internet in industry are exciting right now”, says the accelerator’s managing partner Ravi Belani. The accelerator teaches customer development, sales process, how to launch alpha and beta versions of a mobile app, and partner development.

The primary value proposition of Alchemist Accelerator is it brings a panel of Fortune 500 companies to take a look at its startup demos and pitches.

“We had access to people that we wouldn’t have access to without being in the Alchemist Acceleration program”, says Workhand Co-founder Patrick Cushing, a startup accelerated by Alechemist. The accelerator helps all startups by giving access to special events, coaches focused exclusively on industrial internet businesses.

It also helps mechanical design engineers from hardware startups find the right contract manufacturers, such as those dealing in 3D printing in the U.S. The company shared the names of Frog Design and Anybots as two of the leading customers of Alchemist-accelerated startups.

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