BOSTON, M.A. - 22 Jun 2012: IBM (NYSE: IBM) today named SkyFoundry and StreetLight Data the winners of SmartCamp Boston, a global competition for startup companies. These startups are part of a growing group of entrepreneurs using business analytics and big data technology to drive innovation in a variety of industries including retail, transportation, buildings and energy.
As the planet becomes interconnected through sensors and smart devices, the ability to gain insight from massive volumes of data represents a significant opportunity for businesses. SkyFoundry can automatically analyze the vast amounts of unstructured data coming from smart devices to detect patterns, revealing issues, faults and opportunities for operational improvement. The company’s SkySpark analytics platform helps facility and infrastructure owners better understand the state of their systems, identifying opportunities for costs savings.
StreetLight Data uses advanced analytics on transportation and behavioral data to help retailers make smarter business decisions. Using StreetLight Data’s technology, retailers can determine the ideal location for storefronts and improve sales by adjusting inventory and marketing campaigns. The technology also provides traditional retails stores with the same type insight that ecommerce retailers can easily garner.
Tapping into Massachusetts' flourishing ecosystem of startups and innovation, SmartCamp Boston brought together a panel of judges including industry experts from the worlds of technology, entrepreneurship, academia and venture capital. After two days of mentoring and presentations, the judges selected the winners based on their innovative technology, solid business plan, and alignment with IBM’s Smarter Planet strategy.
In its third year, the IBM SmartCamp program has proven a valuable incubator for IT startups. Past participants have captured the attention of the venture capital community and gone on to rapidly expand and drive innovation in their industry. In fact, the 2010 and 2011 finalists have gone on to raise more than $60 million in venture capital funding since their SmartCamp participation. In addition, companies such as Sproxil and Streetline have worked with IBM to develop and go to market with new solutions.
To hear about the challenges and success of three past IBM SmartCamp finalists:
“Innovation from the startup community is critical to building a Smarter Planet,” said Jim Corgel, general manager IBM. “By helping talented entrepreneurs, like the ones participating at SmartCamp Boston, grow their business, we are providing our clients with innovative new solutions to some of society’s most pressing challenges.”
IBM SmartCamps bring together innovative entrepreneurs with venture capitalists, academics and other industry leaders to provide coaching and critical industry support and advice. Winning companies receive mentoring, services, access to industry experts, and deeper partnership opportunities from IBM, VCs and industry partners.
Startup winners SkyFoundry and StreetLight Data will go on to the SmartCamp Global Finals where they will face-off with winners from SmartCamps in Europe, Asia and Latin America.
To hear opinions and tips on how to succeed as an entrepreneur from startups, IT experts and venture capitalists visit: http://bit.ly/ibminfomentary
IBM SmartCamp events are being held around the world. For more information or to apply to an event visit: http://www.ibm.com/isv/startup.
For more information on the IBM Venture Capital Group, please visit http://www.ibm.com/venturecapitalgroup.
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