Matthew Hancock, Minister of State for Culture and the Digital Economy, said: “Government investment in the IoTUK programme is helping develop the next generation of technology which will power our economy and transform peoples' lives. This latest funding boost will help companies bring their fledgling Internet of Things ideas to market and take advantage of emerging global opportunities.”
The investment will help companies develop early IoT market advantage, and bridge the gap between the development of a hardware prototype and commercial viability.
Raph Crouan, MD of Startupbootcamp IoT | Connected Devices, commented: “There are some great hardware startups and IoT technologies being created in the UK at present. Now we’re looking to really develop this ecosystem, and government support will help us to take our program to the next level.”
Ten startups, working on IoT devices ranging from the connected home to smart manufacturing, have been selected to join Startupbootcamp’s programme which begins this October. In its first year, the programme will provide each startup with €15,000 in cash, office space in London connected to a full fast prototyping lab, and access to a global network of IoT and hardware experts and investors. At the end of the three-month acceleration period a public Demo Day will be held, with each of the ten startups pitching in front of investors, angels and VCs.
