Rolls-Royce to accelerate IoT startups
Rolls-Royce has announced its partnership with IoT Tribe North in order to accelerate the developments of IoT startups.
The initiative will run a 12-week long programme, held in the Digital Media Centre in Barnsley, UK.
The partnership scouted for 60 companies from across the world, which it narrowed down to a selective and elite nine to take part in the programme.
The nine startups span across digital manufacturing, green tech, health, and logistics.
The programme will offer support and mentoring to the startup companies, allowing for newer firms to extend their expertise.
Following the initiative, Rolls-Royce may integrate some of the developments and concepts from the IoT and AI startups into its own operations.
“The evidence gathered to date shows that it can be 3x faster and 5x cheaper to work with start-ups rather than try to develop new key-enabling technologies internally,” stated the CEO of IoT Tribe North, Tanya Suarez.
“The expertise and domain specific know-how of Rolls-Royce will be combined the disruptive technologies of our start-ups, enabling the firm to push the boundaries of what’s possible in the cyber-physical worlds.”