How Startups Can Be Invited to the Big IoT Party
The Internet of Things (IoT) is billed as a multitrillion-dollar party, and thousands of startups are knocking on the door. But, who will be let in and invited to stay?
In my experience, too many startups are locked out of IoT because they show up with the wrong game plan. So, how do you open the door of the IoT opportunity? The first step is to throw assumptions and principles that worked in the previous technology waves out the window.
The disconnect started a few years ago. IoT hype accelerated after Google bought Nest and Gartner placed IoT at the top of its hype cycle for two years running. IoT became the hottest ticket on the planet as new IoT tradeshows and media outlets attracted a global influx of startups aligning themselves to this market transition. In fact, according to Angel List, the number of business-to-business IoT startups soared more than six-fold between 2013 and 2015 — from 127 to 940. Read more…