The Internet of Things (IoT) is making rapid gains, with more and more devices developing the new ability to connect to each other and to other devices, allowing for ease in control regardless of location. But getting IoT developments doesn't happen in isolation; it requires development and effort to build such measures. Boomtown, an accelerator organization in Boulder, is looking to help start up some new developments in the field, and is building an entire branch of its organization geared toward fueling new gains in the connected device field.
Boomtown is a business accelerator program that runs in 12 week bursts, and recently, six companies made it through the program, which culminated in an event called Demo Day. At Demo Day, the six companies in question showed off new products for an audience which included press, investors, and interested members of the public. This round of Demo Day, meanwhile, was particularly noteworthy, as this event coincided with Boomtown's announcement of the Connected Device Lab.
The Connected Device Lab, meanwhile, is set to be available to both the Boomtown startup teams as well as to the community itself, and will hopefully help drive some new developments in the field. Boomtown's co-founder and co-director, Toby Krout, offered some commentary on the new Connected Device Lab, saying, “The fact that two of the six spring 2014 Boomtown companies offer smart, Internet of Things devices is an indicator of what’s to come,” said Boomtown co-founder and co-director Toby Krout. “The Internet of Things offers huge potential for technology that will make people around the globe smarter, happier and healthier. I am incredibly excited to see what comes out of the Connected Device Lab. With students, entrepreneurs, agencies, development shops and others all working together, I have no doubt that this lab will put Boulder on the map as a global leader in the rapidly growing Internet of Things market.”
Boomtown's announcement of the Connected Device Lab isn't unique; just last week, we heard about how Quirky was looking to make some new gains in the connected device space by spinning off Wink into a separate company. Quirky, which focuses on taking ideas from outsiders and turning said items into actual products, recently noted that a lot of its new ideas were focusing on the connected device market—and as such, launched the spinoff to better pursue said ideas. So for Boomtown to join in just makes sense, especially in light of a recent study from International Data Corporation, which suggested that the IoT market would, just by 2020, hit fully $7.1 trillion in value. Thus, getting in on the connected device market at this stage of the game not only makes sense, but has the potential to offer substantial value to entrants into this market. We have video on this and a variety of other subjects available at this link.
The IoT field is poised to offer a great many new alternatives for users, with functions ranging from the personal, like controlling home appliances remotely, to the professional with fleet tracking systems. With huge gains expected, and companies likely eager to get in on what may be a major new growth market, the end result may prove even better than expected.