India’s IoT start-ups get fillip at IESA-TiE innovation event

BANGALORE: India Electronics and Semiconductor Association (IESA) in collaboration with the Bangalore Chapter of The Indus Entrepreneurs (TiE) is encouraging homegrown start-ups, working in the Internet of Things (IoT) space.

At an innovation showcase event, organized at the Intel campus in Bangalore, 16 start-ups, selected from a strenuous scrutiny process of 60 preliminary applicants, were provided a platform to showcase path breaking IoT innovations in their respective domains.

The objective was to create and foster an ecosystem to promote start-ups that develop fabless semiconductor and electronic products especially around connected devices or IoT.

The start-ups were provided with best-in-class platform by IESA and TiE to showcase their products and pitch about their business to the IESA members and the invited Venture Capitalists.

A jury panel further shortlisted Bangalore-based Cardiac Design Labs for a sponsored visit to the SRII Global Conference on June 7-10, 2015 at San Jose, California. The winner will be provided with a platform to ensure visibility to the Silicon Valley investors, world's leading companies and academics working in IoT space.

According to the Department of Electronics and Information Technology (DeitY), the IoT industry in India is

expected to be a $15 billion market by 2020. It is expected that India would have a share of 5-6% of the global IoT industry. IESA is also providing inputs to IoT policy, which is currently being drafted by DeitY.

MN Vidyashankar, President, IESA said, “The future ahead is expected to bring billion dollar domestic market opportunities in IoT and we see it changing the face of India’s ESDM sector in the future. We heartily congratulate these young entrepreneurs for what they have achieved so far and appreciate their constant endeavor to make a positive change in the society that they live in.”

Naganand Doraswamy, President, TiE-Bangalore said, “Internet of Things is the natural phenomenon in the global technology transition where the world in a very short span has moved from the age of computers to laptops to tablets and mobiles and the next wave of growth expected from wearable devices.”