Co-organized with IBM and Indiegogo, the contest is set to encourage startup innovation in IoT
SHENZHEN, CHINA, August 1, 2017 - Arrow Electronics, Inc. (NYSE: ARW) today announced the 2017 China InnoDesign Contest. Under the theme of "IoT Everywhere", the contest aims to promote next-gen innovators in the startup, maker, engineer and developer communities, and accelerate their success from idea-to-impact.
China's IoT market is expected to reach US$121billion by 2022, at a CAGR of 41% between 2016 and 2022, according to the latest report by MarketsandMarkets. A critical driver to IoT market growth will be entrepreneurs and early-stage businesses, but very often, while these entrepreneurs are armed with ideas, they usually lack the resources and technical expertise to develop these next-generation IoT innovations and bring them to market.
The program will run from now until November 2017. Shortlisted 50 applicants will have to design and submit IoT-related solutions by utilizing a minimum of five electronic components specified in the program. Winners will receive a total of US$18,000 prize from Arrow (before tax).
"As a global technology company, Arrow is committed to nurturing the future leaders in technology, enabling them to succeed by removing barriers and providing expertise, resources and optimized solution offerings that entrepreneurs need to develop innovative IoT products," said Esmond Wong, vice president of supplier marketing, semiconductor for Arrow's components business in the Asia-Pacific region. "The 2017 China InnoDesign Contest serves as an important platform for startups and developers to spark ideas and accelerate their time-to-market capability by taking full advantage of our partners' resources and networks."
Arrow's IoT offerings and capabilities guide developers along their innovation journey from idea to proof-of-concept, from component sourcing to system integration, from rapid prototyping to design-for-manufacturing review and certification. The contest is co-organized with IBM Bluemix and Indiegogo. Contestants are encourage to tag into IBM Bluemix cloud platform with capabilities, such as artificial intelligence, Blockchain, advanced data analytics and cyber security, as well as Indiegogo's global concept-to-market entrepreneur platform. Contestants will also gain access to technical resources from 14 industry-leading technology companies.