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Armonk, NY, USA - 30 Jun 2011: IBM (NYSE: IBM) today named Localytics the winner of SmartCamp New York, its global competition for startup companies. Localytics provides real-time data analysis that helps the makers of mobile phones and tablet applications better understand their clients.
Selected from more than 200 entries from around the world, the SmartCamp New York finalists represent a new generation of entrepreneurs whose technology and business models capitalize on the growing opportunity for businesses to apply Watson-like analytics to data.
A panel of judges and mentors including venture capitalists, academics and business leaders named Localytics the winner based on its innovative technology, aggressive business plan and alignment with IBM's Smarter Planet strategy.
"We are honored to be named the winner of IBM SmartCamp New York. What we have learned from this competition and the relationships we have developed will help us grow our business," said Raj Aggarwal, chief executive officer, Localytics.
Past winners from IBM SmartCamp competitions have captured the attention of the venture capital community and won clients in new markets. For example, Streetline, the co-winner of 2010 SmartCamp Silicon Valley and winner of the 2010 SmartCamp World Finals, recently received a $15 million round of venture capital funding. CareCloud, the co-winner of SmartCamp Silicon Valley, received $5 million in funding. Panoramic Power, the winner of 2010 SmartCamp Tel Aviv, received $4.5 million in funding. Sproxil, the winner of SmartCamp Boston, received $1.8 million in venture capital funding and expanded into India.
"IBM's ties to the startup community are firmly rooted in our 100 year history of investing in innovation," said Jim Corgel, general manager of ISV and Developer Relations, IBM. "We understand what entrepreneurs need to succeed in business and the collaborative innovation that drives success for our mutual clients."
Localytics will be invited to the SmartCamp World Finals to square off against other 2011 SmartCamp winners for the title of "IBM Global Entrepreneur of the Year." The Hatchery, a SmartCamp New York sponsor, will provide mentoring and six months of office space in Manhattan. In addition, Localytics will receive 25 hours of pro-bono legal services from international law firm Reed Smith.
The IBM SmartCamp events are part of IBM's commitment to the Obama administration's StartUp America initiative.
Envirolytics Wins IBM SmartCamp New York People's Vote Award
In a closely contested online vote, Envirolytics won the IBM SmartCamp New York People's Vote Award. Envirolytics developed a combination of analytics software that uses mobile devices to put homeowners in control of their energy usage.
This year, SmartCamps have been held in Bangalore (winner: ConnectM, energy efficient telecommunications solutions), Austin, Texas (winner: Secure Waters, water monitoring solutions), and Barcelona (winner: BitCarrier, traffic management solutions).
Additional 2011 SmartCamps are planned for Tel Aviv, Istanbul, Shanghai, Rio de Janeiro and London.
For more information about the IBM Global Entrepreneur initiative, please 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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