Over one hundred attendees representing Bay Area’s Tech community, including innovative startups, corporations, investors, and incubators joined SAP Startup Focus and Silicon Valley Forum to learn more about the challenges and opportunities around the Connected Enterprise and the Internet of Things on Wednesday, June 21st.
The Internet of Things (or IoT) can transform many enterprises into digital businesses therefore it is crucial for companies to understand how to implement and take advantage of this new technology. We brought together thought leaders, ground-breaking companies, and innovative IoT startups to share their experiences and provide firsthand insights.
Narayan Sainaney, Co-Founder and CTO, Mojio Inc., kicked off the event with a keynote on the Connected Enterprise and the new Data Economy.
“The Connected Enterprise is about data and it is in preparation for what is about to come in a big way. I am of course referring to the resurgence in machine learning and artificial intelligence”, said Narayan.
After taking us on a journey on the challenges many technologists face, such as data storage, privacy, and data as a currency, Narayan is confident that the problems of sensors, connectivity and the problem of good quality data for ML/AI algorithms will be solved.
Following Narayan’s keynote, our panelists discussed the state of the art of connected vehicles and connected supply chain. On the opportunities and challenges of connected vehicles: Timo Stelzer, SAP; Sathis Gajaraju, Sensify; Steven Messino, MuvMe, Quin Garcia, Autotech Ventures; moderated by Manju Bansal, SAP Startup Focus. On the latest around connected supply chain: Debbra Rogers, Paradata; Brendon Dever, HeadsUp, Steve Wang, Alien Technology, Erin Sawyer, WrightSpeed; moderated by Jason Wolf, SAP.
The audience was treated to a fireside chat with Jay Nath, CIO of City of San Francisco who shared his experience in bringing startup innovation to work for the City of San Francisco.
These in-depth discussions with experts in the field across different industries provided over 3 hours of content. In case you missed the event, here are a few lessons we learned.
- As enterprises connect more of their systems, they unlock the data from these systems. Connected devices provide more visibility into complex systems and processes which generate vast amount of data. The enterprises who learn to take advantage of this will benefit from not just smarter people but this new thought resource – computers that can provide expert opinions.
- According to BI, 75% of all new cars shipped by 2020 will be connected cars.
- Implications of connected vehicles go well beyond the car, i.e. car ownership, car insurance services, trucking. BCG estimates that the driverless car market will be worth $42 billion by 2025 (excluding the base price of cars), up from practically nothing today.
- Per a study by BCG, by 2030, 25% of the profits for the auto industry will come from shared mobility and digital services, basically brand new revenue streams that essentially don’t exist in a real form today.
- Startups can help governments streamline processes and develop technology products that help make government more accountable, efficient and responsive. STIR is an on-premises incubator at San Francisco City Hall, meant to apply startup ingenuity directly to pain points within government itself.
- Technology can allow a more flexible supply chain, yet companies need to make data available to get flexibility.
- Simplicity means scalability. Next generation UX in developing supply chain involves simple IoT based solutions.
Six innovative IoT startups took the stage to compete for the titles of the “Most Innovative” and the “Most Transformative” company by pitching their solutions to a panel of 3 judges.
Foghorn emerged as the “Most Transformative” solution. FogHorn brings a groundbreaking dimension to the industrial Internet of things by embedding built-in edge intelligence and fog computing directly into small footprint edge devices. Otosense was awarded as the “Most Innovative” solution, the first software platform turning real-time machine sounds and vibrations into actionable meaning at the edge.
Special thanks to our audience, speakers and our co-host Silicon Valley Forum.
Finally, we would also like to thank the startups that took part in the pitch competition and the numerous startups that applied to pitch at the event.