FREMONT, CA: Cisco, Intel and Deutsche Telekom select twelve startup companies for its Challenge Up! Program- an innovative startup initiative organized and crafted by these three to encourage the talent of the startups building Internet of Things (IoT) solutions. The final catch for the startups that successfully complete the program will be eligible for potential co-investment from the hosting companies, as well as other leading corporate venture funds.
The startups who made it to the final list are: Admetsys, ComfyLight, Devicehub.net, Hi-Park, Ifinity, n-Join, OORT, ProGlove, Senic, SEMSEYE, Taggalo and Waylay.
Challenge Up! is a platform that will help IoT startups enter the market faster by combining access to corporate resources and joint projects with mentoring and high-value networking. The program unites resources and experience from the startup initiatives of the individual companies, including Cisco, Intel Business Challenge Europe and hub:raum powered by Deutsche Telekom.
The participating teams underwent five days of rigorous mentoring sessions, workshops and pitching during the Challenge Up! Acceleration Week. The sessions were designed to help early-stage companies scale their business ideas for faster market entry. Participants spent 40 hours in workshops refining their pitching skills, product development, business modeling, user experience (UX) design and sales strategy.
“This program provides Cisco the chance to support early-stage startups and work with energetic entrepreneurs. We are excited to be part of this community and to support entrepreneurs in open innovation,” says, Mike Flannagan, Vice President and General Manager of Data and Analytics at Cisco.