Internet of Things group RIoT opens applications for accelerator program 

By March 27, 2018Product News

RIoT, the users group focusing on Internet of Things development and commercialization that is based in Raleigh, is now accepting applications for its new accelerator program.

Called RAP for RIoT Accelerator Program, the program is funded in part by a $500,000 federal grant RIoT received last year.

“The basic idea is that IoT startups need a new acceleration platform,” Larry Steffan, a veteran tech executive who also oversees the Wireless Research Center of North Carolina, told WRAL TechWire when RAP was announced. “A platform that will cut across multiple market segments.”

RAP sets three primary objectives:

·          Introduces startups to industry partners and customers

·          Provides access to an engineering prototyping lab and tools

·          Connects teams to the full IoT ecosystem of government, academic and industry collaborators

·          Team size requirement of two full time preferred workers,one full time minimum

·          Must be available to participate full time through the 3-month program

WHO SHOULD APPLY?
·          RIoT has successfully supported numerous startups since inception, many of which would not be considered traditional IoT companies. RAP seeks innovative companies and entrepreneurs with great ideas that may or may not fit into the classic IoT framework.
·          RAP is agnostic to stage. Whether you have been working as a startup for a while, are a motivated entrepreneur or are a company looking to start a project independent of the company structure, please apply.

·          RAP focuses on market demand, which is a critical selection criteria. Good applications demonstrate market demand is strong and timing ideal.

·          RIoT also partners industry-driven projects to talented entrepreneurs. Sponsor projects are un-met market opportunities, often with revenue expectation of $100 million annually or above. These projects need teams and complimentary technology and applicants are encouraged to apply to join a team.

PROGRAM DETAILS
·          RAP will include ” a mix of required and optional programming and dedicated time to work on your company.”

RIoT says it will “partner students and startups with an industry consortium of more than 60 companies across the IoT value chain. Industry seeds the accelerator with clear market problems that they are motivated to solve through entrepreneurial partnerships.”

Participants also will have “access to complimentary resources” from RIoT’s partners as well as “seed investor capital necessary to launch new products and services to market.”

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