CENTENNIAL, CO — TechrIoT XLR8 (pronounced “Tech Riot Accelerate”), Colorado’s exclusive Internet of Things (IoT) accelerator program, has announced the creation of an advisory board comprised of executives from Fortune 500 companies such as Arrow Electronics, Jeppesen, Nokia Networks and Sprint. The new advisory board will select the first group of 10 IoT companies to participate in TechrIoT XLR8’s inaugural accelerator program. The board members will provide mentoring and expertise throughout the program, which will culminate with two investor pitch opportunities — one in Denver and one in Silicon Valley in September 2016.
Much like the growth of the Internet in the 1990s and mobile devices such as the smartphone in the 2000s, IoT solutions are expected be a disruptive force in technology for all aspects of daily life in the coming years. According to Ted Chamberlin, Principal Advisor and Analyst, Custom Shop Strategies, “The number of companies developing technology for IoT-based solutions will rely heavily on collaboration between innovative startups and established companies of all sizes and markets to meet the demand.”
As a result, F500 companies are aligning themselves with startup communities to enhance their competitive advantage in hopes of capturing a piece of the $7 trillion market share that IoT is expected to generate by 2020.
“IoT provides tremendous opportunities for a new company to create solutions that enable industries to become more efficient and help people to improve their daily lives,” stated Doug Hohulin, Strategy and Business Development Manager at Nokia Networks and TechrIoT XLR8 board member.
The inaugural TechrIoT XLR8 program seeks applicants from any company that believes it has an inventive product or groundbreaking IoT innovation. The 10 successful applicants will collaborate in a fast-paced, business accelerator-type environment without the usual fees, investor equity expectations or relocation restrictions. The application deadline to apply is Nov. 30, 2015. Visit techriot.org/techriot-xlr8/ for more details.
