March 18, 2020
One area of increasing interest is the Internet of Things. This is the concept where all sorts of devices are connected and communicating because of the internet. The idea here is to facilitate useful data between devices, providing convenience to the user. Phones can talk to computers, parking lots can display real-time information to drivers and so on. Due to the possibilities, it’s no wonder that startups are finding a new home here too.
Startup culture is one premised on acting fast, growing quickly and adjusting where necessary. This makes it an ideal space to explore the Internet of Things. Complications arise since it’s not merely about having the technology or app development, but whether that technology can communicate.
One area startups love to explore is the smart city – the idea of a space where, in real-time, the environment can inform and aid us with data. It benefits startups because if they manage to secure a successful pitch, they will make it big. After all, we’re talking literally city-sized projects.
Take, for example, the startup Greenbird and their “MeterCloud”. This is, as Information Week summarizes: “a middleware framework that provides a communication layer between all sorts of meters, appliances, generation facilities, and accounting systems.” This is operating with a number of devices, relaying useful information to multiple sources. Importantly, it facilitates communication and integration that otherwise wouldn’t exist. This is the epitome of the Internet of Things. And the focus on new, unexplored technology that can deliver enormous benefits is the essence of startup culture.
Another prominent startup is Worldsensing, which focuses its efforts on developing sophisticated input measurements – hence the name. For example, the startup recently focused on smart on-screen parking in Dubai with their “Fastprk” project. 100 sensors, installed in each street parking space of a road, sent continuous information to two gateways. This was connected to the Internet for real-time data transmission.
As Parking-Net summarizes: “Fastprk is a smart city system helping drivers to find a parking space quicker and allows cities to manage their parking spaces more efficiently.”
The lesson here is that combining forward thinking with creating a niche is the best way to grow your business. These startups aren’t big companies like Google or Apple, but they’re using their understanding of the latest technology to carve out areas that will grow. Smart cities, sophisticated measuring tools, and easy-to-access data are all things everyone wants in today’s fast-moving world.
There are all sorts of other benefits the Internet of Things can have for startups. But, regardless of what business you’re in, these lessons are useful for every business person.