What is the Internet of Things?
The Internet of Things (IoT) will change the way we live, work and play.
Devices talking to devices, analysing and sharing information, connected
homes, smarter cities, more efficient transport systems & intelligent
healthcare that can save lives.
From coal and steel to compound semiconductors and the Raspberry Pi,
Wales has a past and present as a nation of creators and makers.
Its future? The perfect place to drive IoT development through innovation,
inspiration and production. A future we can build together.
The IoT sector is anticipated to grow 14% annually over the next 3
years surpassing $1 trillion in 2021.
What is the IoT Accelerator Wales?
The Internet of Things Accelerator Wales is Wales’ first equity backed accelerator programme.
Designed to support the early growth of small companies with big ideas in the IoT space, the six month programme
brought together nine innovative young tech businesses and housed them in the centre of the growing Welsh tech
scene at the new Cardiff Eagle Labs between the first half of 2018.
The program’s five key partner organisations, Innovation Point, The Accelerator Network (TAN), Barclays Eagle Labs, Inspire Wales and the Development
Bank of Wales, came together to offer expert support and advice. Companies were given £50,000 in cash investment;
individual and team mentoring meetings, bespoke training sessions and investor pitch opportunities. Our team have
offered a level of support which has enabled the IoTA programme participant companies to establish and grow in a
supportive environment. And we will continue to support them as program alumina.
And look at what the IoTA programme has achieved!
There is already exciting news from across the first cohort of companies on the programme.
Five of the companies have received firm offers of follow-on investment, and a number of others are in discussion with corporate organisations interested in collaborating on the development of their ideas. Cardiff and Swansea Universities have also been secured as subject matter specialists.
Three of our cohort companies have been enticed to stay and run their business in Wales - which has contributed to the 15 new Welsh technology jobs created, and are certainly contributing to the growing attendance at partner organisation Cardiff Barclays Eagle Labs regular ‘IoT Meetup’ events.
All of which leads us to believe that there is a big future for accelerator programmes to support Welsh tech business.
If you would like further information about Innovation Point’s Accelerator Program plans please send an email to us here.
Thanks to Innovate UK, TAN and all our commercial partners who helped to make this Accelerator a great success!
“Innovation Point helped introduce us to the Welsh startup, technology, and academic fields which helped us hit the ground running once we landed in Wales.
The accelerator helped us identify and start preparing for the investment process and give us the tough questions that we need to answer ahead of future investor conversations.
We have collected 1,000 miles of data on roads across South Wales and planning new projects in the Wales and around the world. Our highlight of the accelerator was visiting the Sony manufacturing floor.”
"Our Innovation Point mentor (Richard Condon) went above and beyond his duty in giving us honest feedback, and pushed us to improve our original offering.
The accelerator program helped us develop our business plan and get us acquainted with the start-up scene in Wales and the UK. It was instrumental in establishing the relationships we needed to move forward.”
“Innovation Point has been instrumental in Tendertec’s journey. From supporting Tendertec to identify and unlock funding opportunities to connecting us with key individuals and organisations across Wales, Innovation Point has been one of our most valuable partners. Through the IoTA Accelerator, Tendertec was able to refine its value proposition, rethink its roadmap and become investment ready, all critical steps in our arduous journey to bring our game changing sensor into the market. "