IoT startup funding from IBM, Indiegogo and Arrow Electronics
This collaboration brings IBM’s Watson IoT platform and cloud services together with concept-to-production services from Arrow Electronics and crowdfunding site Indiegogo
Under the scheme, qualified Indiegogo entrepreneurs will have no-charge access to IBM’s Watson IoT Platform via Bluemix for an unlimited amount of time, giving them access to more than 160 industry-leading cloud services to incorporate ready-to-use capabilities, such as artificial intelligence, Blockchain, advanced data analytics and cyber security into their latest IoT inventions. Qualified startups will have access to IBM’s global network of technical and industry expertise, education, mentoring and enterprise customers and business partners, all of which can help to bring new and innovative IoT products to market quickly.
David Mandelbrot, CEO of Indiegogo, comments, “We know that fundraising is only one piece of the entrepreneurial puzzle, and by working together with IBM and Arrow we’ll be able to continue making it easier for entrepreneurs to bring their ideas all the way from concept to market.”
Early examples of Arrow Certified Indiegogo IoT startup projects include:
• Fitly, which created Smart Plate, an intelligent nutrition platform that instantly analyzes and tracks what its user eats. Smart Plate was developed with support from Arrow and IBM Cloud, and was successfully funded on Indiegogo.
• PlayDate, a startup that launched on Indiegogo, created the first smart ball for pets that lets owners interact with their dogs and cats from anywhere in the world. The PlayDate team ran the highest grossing pet tech crowdfunding campaign to date, but used Indiegogo for more than simply funding. They were one of the first campaigns to get Arrow-certified, a badge of approval on their manufacturing plans, and they received $100,000 in flash funding as well as engineering design support. “Arrow and Indiegogo’s support was incredibly valuable,” said Kevin Li, CEO at PlayDate. “Our campaign with Indiegogo opened doors with partners and acted as market validation for investors. Indiegogo and Arrow partnering with IBM will be a huge benefit for entrepreneurs using the platform.”
Through this partnership, IBM, Indiegogo and Arrow aim to remove barriers and provide the expertise, resources and funding that entrepreneurs need to develop innovative new connected products and quickly and cost-effectively bring them to market. “Combining IBM’s powerful cognitive capabilities with Indiegogo’s entrepreneur platform and Arrow’s end-to-end technology design and production expertise will rapidly increase the volume and quality of IoT devices in market and help fuel a new generation of entrepreneurs.”
In addition to IBM’s benefits, Arrow provides qualified Indiegogo campaigns with up to $500,000 in benefits, such as component parts, online product design and prototyping tools, comprehensive technical reviews with Arrow engineers, manufacturing and supply chain services and sustainable recycling. A global technology company capable of providing comprehensive, sensor-to-sensor, full IoT product lifecycle solutions, Arrow says it is uniquely positioned to guide the biggest names in technology, and startups and makers alike, along their IoT production journey.
More about IBM’s partnership with Indiegogo and Arrow Electronics: https://app.frame.io/d/9KR1k4wh