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The emergence of the Internet of Things (IoT), enabled by sharply reduced costs in embedded intelligence and wireless communications, is unlocking new value in the data created by connected edge and gateway devices. These networks of interconnected smart objects – coupled with Big Data analytics and optimized IT infrastructure – are driving improved operational efficiency, predictive maintenance and real-time automation. These benefits impact many industries relevant to Siemens such as manufacturing, energy distribution, transportation systems, and healthcare. Startup companies are leading the charge in the development of IoT technology and business innovations and are shaping the future of the space.
To explore the implications of IoT for enterprise applications, Siemens Technology to Business (TTB) Berkeley recently co-hosted IoT: Empowering the Enterprise , together with Cisco Investments, Sapphire Ventures, and SAP. The event, held in the heart of Silicon Valley, attracted over 300 attendees including leading venture capital investors, entrepreneurs, enterprise technologists and Fortune 1000 executives. It was distinguished by executive keynotes from Padmashree Warrior (CTO, Cisco), VR Ferose (Senior VP and Head of Globalization Services, SAP), and Helmuth Ludwig (Head of Digital Enterprise Realization, Siemens PLM) along with investor and ecosystem panel discussions.
Showcasing IoT startup company innovations was of central importance. Ten promising startups presented live demonstrations of their solutions in the “Startup Demo Challenge”. These young businesses represent a broad set of technology approaches across both hardware and software, and address a range of industry verticals. Audience favorites included Skyspecs (anti-collision software for industrial drones) and Edyn (smart sensors for agricultural applications). The Challenge also featured TTB portfolio companies Smart Energy Instruments (advanced chipset for high volume smart grid sensing) and ParStream (real time distributed IoT database and analytics platform).
While IoT investments and startup success stories have largely been consumer-focused to date, this event highlighted the potentially vast business opportunities in enterprise and industrial segments. An important motivation was to increase awareness of these possibilities among the Silicon Valley innovation community, and to help stimulate venture funding and startup formation that will drive the next wave of IoT breakthroughs targeted for the enterprise.
“IoT will transform factories of the future,” explained Helmuth Ludwig during his keynote. “In the future, products will find their own way through the factory.” He stressed that digitalization is key for industry to respond to disruptive innovation challenges and opportunities and also affirmed that Siemens is committed to helping its customers transform their digital enterprise in this age of smart, connected innovation.
Debjit Mukerji, Director of Venture Technology, Siemens TTB Berkeley, served on a panel, “Investor Outlook: Perspectives on the IoT Ecosystem.” “The Internet of Things will impact all of our businesses, across our entire value chain – from design and engineering, to operations, to maintenance and value added services,” explained Mukerji. “IoT is one of the pillars of Siemens’ Digitalization strategy and is centrally important to our technology future. Siemens has a unique opportunity to shape the future of IoT, being very close to real world applications and implementations of IoT solutions.”
For more information, contact Debjit Mukerji, Director of Venture Technology at Siemens TTB Berkeley, debjit. firstname.lastname@example.org or +1 (510) 665-1334.