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LONDON, UK - 26 Jul 2010: Have you ever driven through crowded streets, desperately trying to find a parking space, and wished one was free? Thanks to WorldSensing, a company who specialises in out-door parking systems, you no longer have to worry about finding that elusive space.
An exciting final was held at Imperial College Business School last week, to select the IBM (IBM: NYSE) SmartCamp London winner. WorldSensing and four other start ups put forward their ideas to a tough panel of judges lead by original Dragon and Founder of School for Startups, Doug Richard.
WorldSensing estimates that urban motorists can spend up to 15 minutes searching for a place to park. The solution they are providing gives drivers real time information of space availability, enabling them to quickly grab a parking spot. Smart car parking information is also fed to local authorities, so they can manage usage of city space better.
“We’ve been testing our FastPark solution in Barcelona and receiving a lot of interest”, said Mischa Dohler, Chief Technology Officer, WorldSensing. “Our solution has global appeal and so it made sense to apply to IBM SmartCamp. We are so happy to have been chosen as the winner. Not only will we benefit from ongoing integration with IBM, the mentoring on the day from all the experts has helped us to think about how we move our company forward”.
“IBM invests more than $6 billion per year in research”, said Kevin Farrar, Global Entrepreneur Lead, IBM UK & Ireland. “SmartCamp is about innovation, but it is also about entrepreneurship and we want to partner with entrepreneurs to address new market opportunities. WorldSensing has demonstrated their close alignment with IBM’s Smarter Planet vision and shown the potential of their solution for UK and global markets”.
Professor David Gann, Imperial College Business School, said, “Innovation and entrepreneurship are part of the School’s DNA so being the academic partner for SmartCamp in London was an excellent fit. There were some fantastic entries, and choosing just one winner was extraordinarily difficult. The world-class mentoring and support the short-listed start-ups received will stand each of them in good stead. I am confident we’ll be hearing more about them all”.
The London SmartCamp five finalists were selected from more than 70 entries. Prizes include ipads and a three-month mentorship with IBM. WorldSensing will now attend the SmartCamp global final in Dublin in November where ‘the World’s Smartest Start-up’ will be chosen.
The five finalists have been invited to attend the IBM Summit at Start. Start is an initiative established by HRH The Prince of Wales to promote and celebrate sustainable living. IBM is Start’s exclusive partner to lead a nine day Summit in September 2010. IBM will convene business and industry thought leaders to discuss the next steps that should be taken to enable economic, environmental and societal sustainability.
Notes to editors
SmartCamp is a part of IBM's Global Entrepreneur initiative to help start-ups capture new business opportunities. In today's challenging economic environment, technology start-ups can struggle to bring new ideas to market. IBM has opened its resources to help this next generation of entrepreneurs capture emerging business opportunities in fast growing industries such as energy and utilities, healthcare, telecommunications and government.
WorldSensing was formed in June 2008 in Barcelona with the development of applications based on Wireless Sensor Networks. Innovations are applicable to fields such as smart grid and smart cities.
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