Photo - Albert Chai, Country Manager, Cisco Malaysia.
Malaysian entrepreneurs and startups are urged to innovate and take part in an open global challenge to boost the adoption of the Internet of Things [IoT], announced by the networking solutions provider Cisco.
Cisco Malaysia country manager Albert Chai said the company's Internet of Things Innovation Grand Challenge was especially aimed at startup businesses, which could play a significant role in the evolution of the IoT industry especially in the areas of applications, analytics, management and connectivity.
"We are already in the era of the Internet of Things and the timeline for its widespread adoption is advancing as improvements are made every day in underlying technologies," said Chai.
"The advances in wireless networking technology and the greater standardization of communications protocols make it possible for data collection from devices, sensors, and applications through a multitude of platforms," he said. "This has opened up more avenues and opportunities for innovators and technopreneurs to create and innovate at anytime, anywhere and through any device."
Chai said that the Internet of Things Innovation Grand Challenge was in tune with Malaysia's aspiration to become a developed digital economy by the year 2020 as the challenge will also complement national efforts like Digital Malaysia and the establishment of bodies such as MaGIC (Malaysian Global Innovation & Creativity Centre) and the 1Malaysia Entrepreneurs (1MeT).
"As Malaysia readies itself to become a high income developed nation, embracing the culture of innovation and entrepreneurship is key," he said. "Thus, Cisco looks forward to entries and submissions from Malaysian innovators and technopreneurs as we hope to inspire and support the next generation of Malaysian startups that are developing technologies in areas of applications, analytics, management and connectivity."
According to Cisco research, more than 50 billion devices will be connected to the Internet by 2020, creating vast opportunities for the Internet of Things to transform businesses and industries by re-inventing business processes, operational efficiencies and customer service innovations. These opportunities exist in markets such as manufacturing, transportation, oil and gas, utilities, healthcare, sports and entertainment, government, education and retail.
The Internet of Everything
Chai said the Internet of Things "is the technology foundation of the Internet of Everything, defined as the networked connection of people, process, data and things. Cisco estimates the potential impact from this increased connectivity created by the Internet of Everything to reach up to US $19 trillion "value at stake" for businesses and governments over the next nine years."
"We are very excited about the IoT Grand Challenge competition and the prospect of working with the innovative entrepreneurs in Malaysia to develop solutions for the Internet of Everything economy," said Cisco's director of Innovation Platforms in Asia Pacific and Japan, Rajiv Niles.
"I'm looking forward to supporting the vibrant startup scene in Malaysia by mentoring the future tech leaders, providing a showcase for their vision on a global scale and more importantly, driving social innovation in Malaysia," said Niles.
The IoT Grand Challenges follows Cisco's recent Internet of Things Security Grand Challenge, which saw three winners of the Internet of Things Grand Challenge for Startups share US $250,000 in prize money to help them to jumpstart new and existing businesses that contribute to the Internet of Things industry.
Cisco also announced the 2014 return of Internet of Things World Forum, which will be held in Chicago, October 14-16 at the Hyatt Regency Chicago.
In addition to the cash prizes, Cisco will provide winners with mentoring, training and access to business expertise from Cisco and other supporting organisations. The winners will also be provided with the opportunity to develop, test and pilot new technologies, plus potential investment and partnering opportunities in the future.
Submissions will be accepted beginning April 21 through July 1 at.cisco.com/go/iotchallenge with the winners of the competition selected during 2014 Internet of Things World Forum in Chicago.
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