Cisco announces IoT challenge; offers up to $2,50,000 in prizes

Cisco has announced the 'Cisco Grand Innovation Challenge' calling upon entrepreneurs and innovators to develop solutions that can use the Internet of Things (IoT) to transform different industries.

Announcing the contest, Cisco said, "With less than 1% of things in the physical world connected to the Internet, there is an incredible opportunity to connect the unconnected, creating vast opportunities to transform businesses and industries by re-inventing business processes, operational efficiencies and customer service innovations. The Cisco Innovation Grand Challenge will recognize startups, entrepreneurs and developers around the world with the most breakthrough digital technologies, products or business models across a variety of categories."

The first prize winner gets $1,50,000, the second winner $75,000 while the third winner will get $25,000. All the three winners will get access to mentoring from Cisco and partners; an opportunity to take their venture forward by developing, testing and piloting new solutions with Cisco and ecosystem partners; and pitching their company to the Cisco investments team.

Cisco has invited submissions in five key areas including Infrastructure, Middleware, Platform and Frameworks, Applications, Security, and Fog Computing within key verticals.

The contest is open from June 22 till September 7, 2015 and the winners will be announced on December 7, 2015.

For more details, visit: Cisco Innovation Grand Challenge