Internet of Things Business and Technology Accelerator

Publication: themanufacturingconnection.com

For those of you not attuned to developments in the business part of technology development (think Silicon Valley), various accelerators or other processes have developed to assist budding entrepreneurs. Here is one I heard about recently to accelerate (XLR8) development in the Internet of Things space.
The 2016 TechrIoT XLR8 is a six-month program providing best in class IoT companies of any stage with valuable resources to validate product engineering and design, assess market potential, access supply chain financing and connect with anchor customers and channel partners.
The TechrIoT XLR8 is a hybrid program that takes place both virtually (via online interaction) as well as via periodic in-person workshops in Denver, Colorado, over the course of a 6-month period.

Application and Evaluation Process -2 month application window, 2-week evaluation period
During a two month application period, applicant companies submit an introductory video of their company/product and answer a series of short questions online through the F6S.com platform. Submissions are qualified against an evaluation rubric hosted by Valid Evaluation through assessment of applicant companies on a range of subjects (ie. strength of management team, strength of market opportunity, previous fundraising traction, etc). Applications are then reviewed by a selection panel of IoT subject matter experts from around the globe during a 2-week evaluation period. An executive committee of this panel then selects 10 finalists for participation in the program and an announcement of participants is made public.

Now Accepting Applications here: https://www.f6s.com/techriotxlr8/apply
Applicants who are not accepted into the program receive a valuable report of how a number of IoT subject matter expert evaluators ranked them in each category of the evaluation rubric, identifying areas of opportunity to improve their application for future application windows.

Program Content
For finalists, specific content throughout the 6-month program is tailored to each company according to strengths and weaknesses identified in the application evaluation process. However, each company will participate in the following:

Phase One –Design Validation (8 weeks)
During this phase, participant companies will be mentored on product engineering and design quality. This phase includes valuable opportunities for in-depth, in-person interaction with global product design and engineering validation experts from within Arrow Electronics, a Fortune 150 global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. With 2014 sales of $22.8 billion, Arrow serves as a supply channel partner for accelerator companies and brings technology solutions to a breadth of markets, including telecommunications, information systems, transportation, health and medical, industrial and consumer electronics.

Phase Two –Market Validation (8 weeks)
During this phase, accelerator companies will work virtually with the team at Innovation Pavilion, a national network of incubators specializing in linking emerging companies with global corporate entities, including Founder and Chairman Vic Ahmed, and a global network of IoT subject matter experts and mentors. Together, these mentors will work with companies to identify anchor customers and/or channel partners and tailor compelling value propositions and collateral material to attract them.

Phase Three –Customer Acquisition (8 weeks)
During this phase, participant companies will turn their focus to engaging with previously identified anchor customers or channel partners, again with the assistance of the 2016 TechrIoT XLR8’s mentorship network.

Phase Four – Demo Days (2)
The 2016 TechrIoT XLR8 culminates in a unique opportunity for the world’s best and brightest IoT startups—after completing a 6-month program of qualifying, validation and refinement—to pitch live in front of a room of potential customers and channel partners and investors ranging from angels and venture to private equity. These two critical Demo Day events, one in Denver and another in the Silicon Valley, will provide the ideal opportunity for participant companies to take their venture to the next level.

Key Dates

  • Sept. 30 to Nov. 30, 2015 – Online Application Live
  • December 1 to December 13 – Applicant Evaluation Period
  • December 15, 2015 – Selection Announcement
  • January 18th – Program Begins with a kickoff conference call for a program overview and assignment of “champions” for each company.
  • January 19th to Feb 15th – Companies and Champions work independently to prepare
    necessary documentation/demonstration materials to prep for meetings with Arrow and other Partners.

  • Feb. 15th to Feb. 18th – Phase One In-Person Design/Engineering Validation Session with Arrow.
  • Feb. 18th to April 15th – Companies and Champions work independently to incorporate
    design/engineering validation feedback, update necessary documentation/demonstration materials to prep for work with subject matter expert mentors tailored to each company’s needs and stage.

  • April. 15th to April. 18th – Phase Two In-Person Mentoring with Colorado-based or visiting
    mentors.

  • April 18th to June 14th – Companies and Champions work independently to incorporate
    design/engineering validation feedback, update necessary documentation/demonstration materials to prep for work with subject matter expert mentors tailored to each company’s needs and stage.

  • June 15th to June. 18th – Phase Three In-Person Presentations to Customers and Channel
    Partners.

  • July 15th – Demo Day in Denver.
  • July 20th – Demo Day in Silicon Valley.

Call for evaluators and mentors!
Interested in qualifying and/or mentoring some of world’s best and brightest emerging IoT companies? Contact techriot@techriot.org for details.

© 2016: TechrIoT - Accelerating IoT Innovation