IESA and TiE promoting homegrown IoT start-ups

BANGALORE, INDIA: India Electronics and Semiconductor Association (IESA), with the Bangalore Chapter of The Indus Entrepreneurs (TiE), has  announced strong impetus towards the best of breed home grown start-ups in the Internet of Things (IoT) space.

16 start-ups, selected from a scrutiny process of 60 preliminary applicants, were provided a platform to showcase IoT innovations in their respective domains.

The objective was to create and foster an ecosystem to promote start-ups that develop fabless semiconductor and electronic products especially around connected devices or IoT.

The start-ups were provided with platform by IESA and TiE to showcase their products and pitch about their business to the IESA members and the invited Venture Capitalists.

A jury panel further shortlisted Bangalore based Cardiac Design Labs for a sponsored visit to the SRII Global Conference on June 7-10, 2015 at San Jose, California.

The winner will be provided with a platform to ensure visibility to the Silicon Valley investors, world's leading companies and academics working in IoT space.

According to the Department of Electronics and Information Technology (DeitY), the IoT industry in India is expected to be a $15 billion market by 2020. It is expected that India would have a share of 5-6pc of the global IoT industry. IESA is also providing inputs to IoT policy, which is currently being drafted by DeitY.