I’m excited to share that the Cedars-Sinai Accelerator powered by Techstars program will run its fourth class in Los Angeles starting on July 9, 2018. Applications are now open and will close March 25.
The last three classes of the program have been super successful, with the startups creating deep relationships with stakeholders at Cedars-Sinai, leading to multiple companies deploying products across the health system. The last class alone resulted in numerous pilots and commercial deals with Cedars-Sinai, as well as impressive contracts with the likes of the Department of Defense, Merck, and MD Anderson. You can read more about their accomplishments here. Our program has also propelled the success of companies like NarrativeDx, Tasso, WELL Health, Inscope Medical Solutions, and Deep 6 AI – leaders in their respective fields of patient experience management, simplified blood draws, text-based communication between providers and patients, integrated laryngoscopes, and AI-enabled clinical trial matching.
We are looking to connect with companies creating hardware, software, devices or services that empower patients and healthcare professionals to track, manage or improve healthcare. If this sounds like your company, we want to meet you, so please sign up for office hours with our team in a city near you!
Cedars-Sinai Accelerator Powered by Techstars Webinar
In-Person Office Hours – Sign up for your city here.
Feb 1-2: San Diego
Feb 12: Seattle
Feb 12-13: Chicago
Feb 14: Madison
Feb 22-23: New York City
Feb 26-27: Boston
Feb 26-27: Raleigh
Feb 26-27: Denver
Feb 28: Nashville
March 1-2: Atlanta
March 1-2: Toronto
March 6-7: Las Vegas
March 12: Austin
March 15: San Francisco
Predictions are so 2017…so instead, here are a few IoT themes that I’m excited about this coming year:
Edge Comes of Age
The promise of Edge and distributed computing, may seem like old news, however, much of enterprise processing still takes place on-prem or in the cloud. Corporate change management (painful) coupled with the cost of supporting both Edge and core (expensive) are contributing factors to slower adoption. However, as the rate of IoT deployments increase more generally, Edge processing and storage will take hold more quickly across industrial use cases (utilities, energy, transportation) where assets are often remote and further away from central infrastructure. This will significantly cut data ingestion costs, reduce network latency, increase security and help turn streaming data into real-time decisions. By some accounts, 40% of IoT derived data will be stored, processed, analysed and deployed at the Edge by 2019.
Enterprise Adopts a Voice
Consumers have embraced voice applications through beloved connected home and wearable devices. This makes sense considering that we type 40 words per minute and speak closer to 150 words per minute. However, the utility around consumer voice apps pales in comparison to the Enterprise. From robots to automotive, manufacturing to construction, voice provides a flexible, fast and cost efficient way to communicate and collaborate especially when hands and eyes are not available. There is little written about industrial IoT voice use cases, but watch this space in the coming year.
We hear a lot about Blockchain solutions, however, questions around scalability, privacy and reliability have resulted in limited deployments and small scale pilots. However, the case for Blockchain IoT solutions is mounting with greater understanding of the benefits including, faster transaction processing, protected data transmissions, greater reliability and stability, and more efficient integration with existing technology infrastructure. And let’s not forget IoT cryptocurrency, IOTA, totted as a fast and safe way to buy and trade datasets.
Health is Everything
Healthcare IoT had a slow start, falling prey to the usual slew of regulations, data security and device management concerns. Now on track to spend over one trillion dollars on healthcare IoT solutions by 2025, the impact on patients, doctors and hospitals will be profound. While consumer adoption of connected home devices and wearables has started to take hold, it’s enterprise solutions tapping into big data, payments and medical records that will reshape healthcare at scale. IoT can help force the industry to move more quickly towards adopting standards that unite disparate data sources, allowing for a comprehensive view of the patient. Many believe that data is the key to patient care, disease management, remote monitoring, predictive analytics and more…
Security – Ugg!
On a more somber note, even as IoT security awareness comes to the forefront, factors such as time to market, cost and user experience often take priority over basic security. As such, we will likely see more attacks on vulnerable endpoint devices as well as cloud platforms and therefore more exposure of sensitive customer data. On a positive note, more risk and breaches will force IoT companies to come together to work out broad standards, although doubtful this will happen in the next year.
From logistics to mining, aerospace to construction, health to retail, IoT touches everything we do. By 2025, IoT’s yearly economic impact will be more than $10 trillion. Tapping into this enormous opportunity, the Techstars IoT Accelerator is building an ecosystem for IoT entrepreneurs to flourish.
We have only touched the surface of a massive technology shift. This is why we partnered with industry titans: GE, SAP, Bosch, Verizon, PwC and Siemens (next 47), to create a collaborative environment for startups and corporates to learn and interact in real time.
The 12 startups selected to join the program work across multiple verticals, rewiring legacy industries and enabling meaningful innovation through IoT.
We are thrilled to announce the companies joining Techstars IoT:
Apollo is a conversational AI voice assistant device for any car.
Blik provides logistic companies process optimization in real-time with live data.
BuildSimHub is a 3D visual building energy modeling (BEM) collaboration and version control platform.
Makercase’s logistics platform allows brands to deploy cost efficient rental and ‘try before you buy’ services.
Module designs adaptable housing that changes as people’s needs do.
Muzzley is a single intelligent platform for connected devices, a complete Saas and PaaS solution for consumer IoT.
Omnio provides plug and play connectivity as a service for industrial devices enabling business to scale their IoT solutions.
RealSynth provides fully custom synthetic annotated image data for railways.
Seer Aerospace provides market-wide fleet intelligence for helicopters, business jets, and general aviation.
Strayos provides image processing and data analytics for mining and blasting companies.
Terrene enables customers to load any data from any sources and run predictive analytics on it.
Trexo Robotics builds exoskeletons that help people walk.
We recently held AMA sessions about applying to an accelerator program. To help answer questions, we had Lesa Mitchell, managing director for Techstars Kansas City, and Jenny Fielding, managing director for Techstars IoT in New York City.
What are common mistakes to avoid when applying to an accelerator?
Jenny: If you send an incomplete application, meaning you don’t put a video of your product and of the founders, that’s going to be really hard for us. You have to understand that we get thousands and thousands of applications, so the first thing we do is look at the founder video. If you don’t put that in, that’s really tough for us. Similarly, the product video is very helpful.
Another common mistake is being very verbose and writing paragraphs and paragraphs. This is not a college essay, this is all about being concise and making your point. I encourage you to think it through. If you tend to be long-winded, then have someone edit it.
Another mistake is the question in the application where it asks if you could list a few competitors, and people say ‘none.’ That always gives me pause, because I’m pretty sure that there are people in the space that you are working in. They may be thinking about it differently, but you need to know your market.
Another thing I would say is that you can wait for the night before, but the thing I would encourage you to do is try to make contact with people that are running these programs before you apply. If you just send in an application, you’ve never been to any of our events and you’ve never had any contact with us, and you send it in the night before, sometimes that’s not the best approach.
Although we look at and read every single application, my strong advice is get to know us before and apply early. That way, as we read them we can get back to you and schedule something or contact you if we see something missing.
Lesa: There is no such thing as being too simple when describing what you’re doing. You want to do it in a way that investors and customers can understand. Keep it as simple as possible in terms of trying to help us understand the problems that you’re solving with your company.
Is it possible to figure out IoT in just a weekend?
Well…maybe not, but IoT and hardware have come a long way since the days where you needed $5M+ just to start a company. With off-the-shelf components readily available and sensors practically everywhere that instantly spit out a steady stream of data, IoT startups can now leverage existing infrastructure to build quickly, test functionality more efficiently, and focus on other things, like building robust software.
This past weekend, Techstars hosted Startup Weekend IoT — and for anyone not familiar with Startup Weekend, you need to stop living under a rock! Last year, 1100 Startup Weekends took place around the world, inspiring thousands of budding entrepreneurs to take action and create!
Here are some themes that emerged from the Startup Weekend IoT edition in New York:
AI and efficiency are on everyone’s brain these days.
One promising team used an AI-enabled plugin to solve the never ending powerpoint slide creation issue. The founder, a longtime management consultant, wasted countless hours creating presentation slides from scratch, having to recreate the design every single time.
Another team created a personal article librarian to solve the problem of having a million open tabs and losing research. The AI bot can automatically search through all the articles and content tagged for easy recall when you need it.
The built environment is the next frontier– at Techstars, we are seeing a lot of emerging startups that are pursuing this vertical.
One team tackled delayed shipments on construction sites with a clever SaaS platform that provides greater transparency on the flow of deliveries and materials.
Health and Wellness
Another team created RFID tags to track patients throughout the check-in, admission and care processes, giving patients more freedom to leave the facility and come back when they can be attended to.
The market opportunity for IoT in AgTech is in the trillions. Need I say more?
One team created an IoT kit and real-time analytics tool to monitor the soil quality for farmers. The collected data can be monetized by insurers and associations. This team even had a live demo, presenting both the hardware and the software components they created over the weekend.
Are you working on an IoT startup? I’d love to hear about it. Applications are currently open for Techstars IoT in New York City, learn more and apply here.
This will be my 8th SXSW. Each year is different and filled with incredible content and new connections. However, I always leave Austin wishing that more of my time was geared towards meeting / helping / interacting with female tech founders. So, this year we decided to host a brunch focused on helping female founders raise capital — a topic I have first hand experience with.
We also curated a list of female-focused events that looks amazing. Now, the usual dilemma of what to attend?!
Women in the Creative Industry Meetup (official — need a badge)
Friday, March 10 – 12:30–1:30
Join the founders of Austin’s own #bossbabesATX and Chicago’s Cliche Collective for an hour of mingling and conversation covering women in the workplace, professional resources for entrepreneurs and goal-mapping for 2017. Following mixer activities, we’ll close with curated discussion, drawing from topics posed by those in attendance.
Austin Women in Tech Social @SX (unofficial, no badge)
Saturday, March 11 – 11:30–1:00
Join ChickTech and Girl Develop it for the second annual Austin Women in Tech Social! Come escape the hustle and bustle of SXSW for a fun lunch overlooking downtown Austin from the wonderful offices of Box.
Underrepresented (and Overachieving) Founders Meet Up (official — need a badge)
Saturday, March 11 – 2:00–3:00p
A meetup for overachieving underrepresented founders and the investors who believe in them. This is an invitation for founders that aren’t normally highlighted in the press and on the portfolios of most VC firms. Maybe you didn’t go to Stanford (maybe you did!). Maybe you haven’t worked at Facebook. Maybe your startup isn’t in Silicon Valley. Maybe most VCs don’t understand the market you’re targeting because they’re not in it themselves. This event,brings together founders that don’t fit the standard mold.
Female Founders Brunch (unofficial, no badge)
Sunday, March 12 – 10:00–12:00p
In Austin for SXSW? Please join us at the Techstars office for a female founders brunch where we will discuss funding opportunities and challenges with VCs including: Nicole Quinn, Partner at Lightspeed Ventures Jenny Fielding Managing Director at Techstars Sara Deshpande, Partner at Mavan Ventures Kerry Rupp, General Partner at True Wealth Ventures.
SXSW Women in Digital Meet Up (unofficial, no badge)
Monday, March 13 4:30–7:00
We Join the most powerful Women in Digital at for our first ever Austin happy hour and mixer. Refresh yourself with a break from the SXSW madness and meet your amazing sisters in arms of Women in Digital.
IEEE Women in Tech Meet Up (official — need a badge)
Monday, March 13 11:00–12:00
Providing sustainable support for women in technology is one of the most talked-about issues in the tech industry. Many corporations and organizations are focused on inspiring girls to pursue careers in science, technology, engineering, and math (STEM); and on providing support for women in technology to advance in their careers. SXSW serves as the primary annual gathering for the tech industry, with participation from all levels: corporate, start-ups, investors, and tech non-profits, and it just makes sense to provide an opportunity for supporters of women in tech to gather.
Female Investors Talk Investing in Women (official — need a badge) March 13, 2017 12:30 — 1:30p
Data suggests that female investors are better at picking which women-led startups are most likely to be successful. What is it that female investors know that male investors don’t? Leading female venture capitalists and CEOs share what they’ve learned investing in and building successful companies led by women. How do women’s leadership styles and insights meaningfully differ from men’s, and how do you assess a woman’s potential to take a company to a successful exit? Explore the power and potential of gender diversity at the top. Find out the qualities female investors look for in female entrepreneurs, and what makes a great leader in today’s startup environment.
As usual, the time at SXSW will fly by so be sure to hit up a few taco joints, grab a few beers and have a good time. If you have a startup that’s interested in our IoT program in, come say hi by signing up here.
This was originally published on Medium.
When you think about the Irish startup scene, Fintech comes to mind. But Ireland is much more than payments and blockchain, in fact, IoT is starting to gain more ground. Home to Intel, Google, Accenture’s AI Lab, several research institutions and universities as well as having a “reasonable” cost of living (as compared to SF, NYC, and London that is), Dublin is well suited to become a growing IoT hub.
I’m here speaking at the Dublin Tech Summit, a 2-day conference meant to fill the gap that Web Summit left when they departed for sunnier weather. IoT is one of the key themes of the conference with 20+ talks and panels geared towards the topic.
During my time in Dublin, I met with a dozen of IoT startups – at the conference as well as at Dog Patch Labs – and here are a few key themes that emerged:
- Connectivity is still a thing. SiteSpy, a smart sensor powered by renewable energy that allows users to measure the exact location and orientation of objects – super useful for mobile network operators who need to know the exact positioning of their antennae.
- IoT platforms are going strong too. Wia is a cloud platform that enables developers to build IoT apps, and Cesanta uses software libraries and embedded solutions to allow seamless communication between apps, devices, and machines.
- Ag-tech is also big, which makes sense given Ireland’s landscape. Haysaver is a device that analyzes agricultural matter and looks at the nutritional value of feed as well as hay bale combustion, a problem that results in the death of livestock and destruction of food.
This year we are thrilled to welcome back GE, Verizon, SAP and PwC as our corporate partners. And we are pleased to announce an amazing new addition, next47, part of the Siemens family and an established player within the enterprise IoT space, will be joining us.
We have a broad view of IoT and are looking for startups working on enterprise or industrial use cases in the following verticals: Logistics, Smart Cities and Urban Tech, Smart factory and Industry 4.0, Construction Tech and Building Automation, Robotics, Virtual and Augmented Reality, Energy and Sustainable Tech, Wearables and Wellness, Connected Home and Automotive.
Looking Back at our First Year of Techstars IoT
Ten IoT startups from all over the world moved to NYC for three and a half months of mentor-driven awesomeness.
Check out this video for a look back at the program.
The program concluded with IoT day, a one day celebration of all things IoT. Nearly 1000 people participated in the day that included panels, investor pitches, corporate partners and even a job fair. It was incredible to see the NYC IoT community come together and support our companies.
Here are a few highlights from our first IoT class:
- Fueloyal – Sold out the first version of the product; second version of the product is in production.
- Galaxy – Partnered with two major hospitals in the Boston area to receive 300 terabytes of data used to train their algorithms.
- Losant – Announced two major corporate deals: deployed their solution with Verizon and signed a deal with Bosch.
- Mosaic Manufacturing – Breakthrough in splicing technology that enables a higher volume of products to be manufactured.
- Pillar Technologies – Signed 8 paid pilots with the largest general contractors in the US for 2017.
- TEQ – Signed 14 deals with hotel chains and hospitality groups.
- Union Crate – Partnered with PwC and SAP to deliver data insights for their grocery store clients.
- XapiX – Deployed with Air Berlin and signed an enterprise deal with Bosch.
We are going global to find our next class. Our recruiting tour will take us to 12 countries and too many cities to count.
Sign up for office hours and events around the world.
Check out our first IoT Day to see how the NYC community came together to support our companies.
The opportunities in enterprise IoT are limitless. From operational cost savings, to collecting and analyzing data in real-time, IoT provides impactful and sustained value creation. If consumer IoT is big, enterprise and industrial IoT has the potential to morph consumer as legacy players like GE, Siemens and Verizon create society’s infrastructure. From industry 4.0 to energy, smart cities to healthcare, mobility to construction to wireless infrastructure, the verticals that IoT are transforming are limitless. But how?
Last year was an incredible one for IoT with several billion dollar acquisitions of IoT companies by large corporates. In fact, IoT drove a significant percentage of the total M&A activity in tech.
Big players like Verizon, SAP and GE have been gunning to expand their data and analytics capabilities in an effort to monetize their huge data sets. The number of notable IoT acquisition deals has been steadily increasing since 2013, a time when there were only six deals averaging $100M each. And by 2016, there were over 50 IoT acquisitions valued close to $1B each.
The increase in trend signifies IoT’s inevitable dominance in the M&A landscape in the coming years.
So does this mean that the corporates have settled on a buy vs build model? We have seen corporate ventures funds at an all time high coupled with new corporate accelerators like Techstars IoT in partnership with GE, SAP, Bosch, PwC, Verizon and UrbanX in partnership with BMW / Mini among others. But as we know, the challenges with investments and acquisitions lie in the delicate art of integrating with key business units.
Legacy companies must grapple with structural integration without killing a startup’s agile development and culture, while simultaneously protecting its own integrity and objectives.
A handful of our very own corporate partners at Techstars have made several significant acquisitions in the past year. Verizon had a busy year, buying Telogis in June (estimated at $930M), Fleetmatics in August for $2.4B and Sensity Systems in September, and LQD WiFi in November. GE was also busy acquiring Meridium for $495M, BitStew Systems for $207M, as well as Wise.io.
SAP’s acquisition of Plat.One in October was another noteworthy deal that bolstered SAP’s existing software network with an enterprise-grade IoT solution. These deals as well as corporate partnerships with accelerators indicate an obvious demand for enterprise IoT adoption; it’s only a matter of time before other legacy players begin to catch on since the opportunities to facilitate growth and maintain a competitive edge are in plain sight.
Applications for Techstars IoT are open. Apply today.
Navigating investment climates is tough. It’s even tougher in IoT– especially when the tides change so quickly and without much warning. For the past few years, IoT has been on everyone’s hot list, but the good times may be slowing down. And according to CB Insights, corporate venture arms, which represent 5 out of the top 12 major investors in IoT, may also be scaling back funding.
Personally, I don’t buy it. Not a day goes by where a CVC does not reach out to me about our new IoT class. Seems like the money is still flowing in corporate land!
Here’s a look at where Techstars has been investing in IoT: