In a recent release, Litmus Automation, an Industrial Internet of Things (IIoT) platform provider, announced it has been accepted into the Plug and Play IoT Accelerator Program. The 12-week program is a combination of Internet of Things (IoT) accelerator, entrepreneurial ecosystem, and a way for forward-thinking corporations and VCs to connect with world-class startups.
“We anticipate a great deal of value from our participation in the Fall Plug and Play IoT Accelerator Program,” said Vatsal Shah, Co-founder and CEO, Litmus. “Loop and LoopEdge thrive on a rich IIoT provider ecosystem and we hope to make key connections that will bring our offerings to more potential clients worldwide.”
With more than 22 locations worldwide and success stories that include PayPal (News - Alert), Dropbox, SoundHound, and Lending Club, the Silicon Valley-based Plug and Play is a global innovation platform connecting startups to corporations and investing in more than 100 companies every year. The program helps startups and growth-stage companies raise funding and pursue business development opportunities in collaboration with corporations.
Litmus Automation will enjoy continuous engagement during the 12-week program including deal flow sessions, one-on-one meetings with corporate partners and investors, public events and workshops. IoT Accelerator program partners include SC Johnson, Sears Holdings, KONE, Hitachi, Honeywell (News - Alert), Samsung, Daikin, Mitsubishi and many more. Participants also receive perks such as access to Plug and Play offices for co-working space, access to service partners for low cost operating solutions and credits with Google (News - Alert) Cloud, IBM Cloud, Microsoft Azure and AWS.
“We source hundreds of companies per batch based on the technology interests of our corporate partners,” says Ivan Zgomba, Partner, Plug and Play Ventures. “Our scouting list included 100 companies, then following our selection day in Sunnyvale, we narrowed it down to 24 companies that were formally invited to join our IoT Accelerator program. Needless to say, Litmus has a compelling business model and product offering that large corporations are interested in, and we look forward to bringing them into our ecosystem.”