Business Startup Accelerator for Internet of Things

TechRIoTFollowing yesterday’s news about support for start-ups doing crowd funding, today we have news of an accelerator for start-ups in the Internet of Things space. Only a couple are specifically industrial, but there are interesting ideas.

These technology accelerators were big in Silicon Valley, of course, but then there’s Beta Works in New York City. This one I have written about before settled in Colorado. The business accelerator is TechrIoT (pronounced “Tech Riot” ). Colorado’s first Internet of Things (IoT) entrepreneurial collaborative, announced the 11 finalists for its inaugural IoT‐focused business accelerator called TechrIoT XLR8 (pronounced “Tech Riot Accelerate” ).

The 11 companies were selected from more than 100 applicants by TechrIoT’s advisory board comprised of technology industry veterans, entrepreneurial visionaries and Colorado business leaders.

Internet of Things Era

“The IoT era will reshape the way technology is integrated into our daily lives,” explained Suzy Gutierrez, Co‐Founder, TechrIoT. “The inaugural XLR8 cohort of 11 companies is front and center in that revolution and will have the TechrIoT advisory network behind them as they take the next steps in their business development.”

Five Colorado companies will be part of XLR8’s inaugural contingency: GoFire LLC , LockState, Place Global, QB Labs, and U Grok It . “As a leading IoT smart lock provider to the vacation rental and Airbnb markets, LockState is excited to be partnering with Arrow, Denver South EDP, and Innovation Pavilion as part of this TechrIoT program to pioneer and promote new disruptive IoT applications” said Nolan Mondrow, CEO of LockState.

Companies participating outside of Colorado include: Envivo Systems (Calgary, Alberta,Canada) Knocki (Houston, TX), MyOrbii (Houston, TX), Ombitron (Kansas City, MO), Smart Office Energy Solutions (Chapel Hill, NC), Tailio (San Diego, CA).

Check out all of them, but pay especial attention to Ombitron. It is the one specific industrial startup.  It provides Business Intelligence for the Industrial Internet of Things enabling business intelligence for the real world in real time. The Ombitron Intelligence Engine Platform enables operational efficiency applications that were heretofore cost and complexity prohibitive. Knocki also has an interesting concept.

Internationally recognized IoT pioneer, Matthew Bailey adds, “TechRiot XLR8 is a bleeding edge

IoT innovation framework that helps IoT businesses to optimise their proposition for success and activate their leadership to the fullest potential. XLR8 levers best in class strengths from the Colorado tech eco‐systems which combined with its visionary IoT innovation framework makes it a world‐class initiative.”

XLR8 applicant organizations submitted business plans that were reviewed by a team of judges who rated their inventive business solutions through an online scoring rubric. Executive advisors then selected the finalist XLR8 companies based on a set of criteria addressing market validation, hardware design and groundbreaking IoT innovation.

Jennifer Maskrey, Co‐Founder at QB Labs, “We are thrilled to be a part of this IoT accelerator and look forward to polishing our company’s vision and products over the next few months”.

XLR8 companies will collaborate in a fast‐paced, business accelerator‐type environment without the usual fees, investor equity expectations or relocation restrictions. “As a start‐up, being included in such a prestigious program with validation and assistance from businesses and experts will be invaluable to our success.” Alan Johnson, CEO Place Global.

Each company will receive supply chain financing from Arrow Electronics and introductions to anchor customers and channel partners. The IoT accelerator will culminate with two investor pitch opportunities, one in Denver and one in Silicon Valley in late Summer 2016.

TechrIoT is a community of Internet of Things (IoT) entrepreneurs, executives, manufacturers, investors, engineers, suppliers and academics that aims to accelerate the adoption and growth of the IoT economy in Colorado‐‐establishing Colorado as a global hub for innovation in one of the fastest growing segments of the technology industry.

Launched in June 2015 by Innovation Pavilion, Arrow Electronics and the Denver South Economic Development Partnership, the TechrIoT community includes more than 1,500 members from the Denver Metro area and across the U.S. TechrIoT is based in the Innovation Pavilion in Centennial, CO.

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