The biggest impact of IoT will be in developing a system of connected devices that positively impact society by reducing wastage and increasing performance

Earlier this year I became a mentor for Startupbootcamp IoT London — a dedicated accelerator for ‘Internet of Things’ (IoT) and hardware startups, helping them validate, build, and grow their business.

Every year, they run an intensive 3-month program in London for up to 10 startups with the aim of helping them get to market quicker and secure follow-on funding. Through a variety of workshops, one-to-one sessions and events, each startup is given access to a global network of business mentors, hardware professionals, corporate partners including Cisco, UCL and Premier Farnell, potential customers, and investors. Co-working space with a fast prototyping lab, and £15,000 (US$19,400) for expenses, are also provided.

I mention this for two reasons:

The first is a small plug: Applications for their next program, which begins in October, are now open. I would really encourage entrepreneurs working in this space to take a look at the program and get in touch with Startupbootcamp IoT team.

The second reason, which will be of most interest to the community here, comes from looking at the areas of IoT the Startupbootcamp IoT team are looking at this year. They continue to support startups working on a connected device within either the consumer or industrial internet of things, but now the accelerator has a particular focus on supporting high-impact startups using IoT to improve sustainability, the environment and society as a whole.

Also read: IoT is a US$6 trillion dollar industry, but is the term even accurate in 2017?

When I spoke to the MD of the program, Raph Crouan, he said that this was the result of conversations they had had with investors and the fast evolution from machine learning to AI.

Connected consumer gadgets are losing traction with investors and the mass market. You only need to look at some of the negative press surrounding the hardware startup Juicero to see this. However, investment potential and automated technology is giving rise to the importance of creating impactful startups, and when it comes to IoT this means developing a system of connected devices that positively impact society by reducing wastage and increasing performance.

This move towards developing ‘high-impact’ startups is clearly very exciting. Not only is the business potential clear, but the positive implications for society are endless.

This is a trend well worth keeping an eye on over the next 12-18 months.

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