How to Build an IoT Startup - Syam @IEEE TENSYMP 2015
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This document provides advice for building an IoT startup based on the author's experience founding iRam Technologies. It discusses iRam's focus on connectivity technology using IPv6, developing products like smart electrical switches. Considerations for new IoT entrepreneurs include identifying target markets and customers, building traction through collaboration and validation, developing recurring revenue business models, and leveraging resources from organizations like IESA and TiE for assistance.
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How to Build an IoT Startup - Syam @IEEE TENSYMP 2015
- 1. How to Build an IoT Startup Syam Madanapalli | IEEE Senior Member | Cofounder at iRam Technologies @smpalli
- 2. @smpalli Outline My journey at iRam • Technology • Design and engineering • Market reaction Considerations for the new IoT Entrepreneurs • Product positioning • Product design • Markets • Ecosystem support
- 3. @smpalli How we started iRam Technology Driven
- 4. @smpalli Technology Connectivity for trillion things. A BIG opportunity for innovation. IPv6 – Provides large address space
- 5. @smpalli Products The most interesting things to be connected Electrical Switch inside and Electrical pole outside
- 6. @smpalli Engineering Divide and Conquer Applied for Patent Controller User Interface
- 7. @smpalli Architecture Connects to Home WiFi Router Eliminates the need for a Gateway Control and Monitor through Mobile App Low barrier for consumer entry
- 8. @smpalli Engineering Multi-level access • Over the Internet • Over the WiFi • Manual control on the switch For Usability
- 9. @smpalli Industrial Design Taken up after the prototyping Multiple revisions Took more time Difficult to deal with small scale industries Very Challenging
- 10. @smpalli India Innovation Initiative – i3 Most Innovative Product Award NASSCOM Emerge50 2013 NASSCOM's emerging Startup Patents and Trademarks Filed for two patents and two trademarks IESA Technovation Award The most innovative product made in India Editor’s Choice Award The emerging company Awards
- 11. @smpalli Considerations for Building IoT Startups Find who has your money and plan how to get that
- 12. @smpalli Product Positioning Your customer should be able to use your products to get the end results t Results: Typically the RoI and/or comfort. Otherwise, your customer is at one level up. Identify your customer and how the customer uses it
- 13. @smpalli Your Product The Complete thing Elegant Intelligent Empowering Complete Deep The Art of the Start 2.0, Guy Kawasaki
- 14. @smpalli Traction Building Check if you are improving what the customer want to do Collaborate Use social media Market Projections: Do bottom up calculations Early validation is critical
- 15. @smpalli IoT Business Model Sunk money subscriptions If the customer is not ready for this, you do not have a business case. Recurring Revenue
- 16. @smpalli Founding Team Do not hire an inferior candidate just because he/she is your friend. Three questions* 1. Can the candidate do what you need? 2. Does the candidate believe in what you’re doing? 3. Is the candidate likeable and trustworthy? Should complement each other Get a better candidate than you * The Art of the Start 2.0, Guy Kawasaki
- 17. @smpalli IoT Markets eCommerce and Supply Chain Large Farms and warehouses Manufacturing Energy Transport Healthcare Focus on RoI in 2 to 3 years Commercial market is preferred over the consumer and government markets
- 18. @smpalli IESA & TiE Assistance for IoT Startups Venkatesh Kumaran Vice President-Operations IESA - www.iesaonline.org/ venkatesh@iesaonline.org Arvind Tiwary IoT SIG Chair TiE, Bangalore arvind_t@sangennovate.com IoT for India: TiE and IESA Initiative http://www.iotforindia.org Assistance for Design for Manufacturability Testing & Certification Interoperability and Standards
- 19. @smpalli IESA-TiE Mentoring Startups Startup Market PREVA systems IoT Platform Retisense Healthcare Shristi ESDM Micro Finance Smartbuildings Energy Surmount Home Automation TIN Parking Wisys technologies Energy Xenon Automotive Automotive Startup Market Aksharanet AI ? Cardiac Design labs Healthcare Cooey Healthcare EasyM2M Security iMONITOR Home Automation Intugine Gaming? JINGLEE Finance? Loginext Logistics