Cisco, Deutsche Telekom and Intel have joined forces to launch Challenge Up!, an Internet of Things (IoT) accelerator for start-ups in EMEA. The programme aims to help innovative IoT start-ups go-to-market faster through joint projects, mentoring, high value networking and corporate assets.
Selected companies may also receive strategic investment and support commercialising their product or service for global markets.
The programme unites resources and experience from the start-up initiatives of the individual companies including Cisco Entrepreneurs in Residence (Cisco EIR), Intel Business Challenge Europe and hub:raum powered by Deutsche Telekom.
Interested startups can apply at www.challengeup.eu. The application period ends on May 25th.
"With Challenge Up! we are giving a great signal to the start-up world, bringing together the resources and know-how of three corporations.
"We will use our combined experience for the benefit of the Challenge Up! program and the support of the startup community," said Elias Drakopoulos, Senior Vice President responsible for Europe B2B at Deutsche Telekom.
Challenge Up! is designed for early stage start-ups creating solutions for the Internet of Things/Everything (IoT/IoE) and related areas, including connected and smart solutions (smart home, smart city, smart energy, connected cars, wearables, Industry 4.0), information security, big data, analytics, connectivity and cloud computing.
Key elements of the programme are Acceleration Week (to be held June 22-26, 2015), which will be sponsored by Cisco EIR, Intel Business Challenge Europe and hub:raum, and a tailor-made, four month incubation program (July to October) taking place in Krakow, Berlin and Vienna supported by Cisco, Intel and Deutsche Telekom.
Startups selected for the programme participate for free with no equity required and keep their own intellectual property.
Christian Morales, Corporate Vice President and General Manager Europe, Middle East and Africa at Intel," added: "We are looking forward to the creative ideas for new products and services from across the region to improve how we live and work together.
"By giving start-ups access to the complimentary resources of our three global companies we can help them accelerate their ideas into commercial success."
Mike Flannagan, Vice President of Data & Analytics at Cisco, commented: "With an expected 50 billion things connected to the Internet by 2020, the Internet of Everything opens up great opportunities."