Intel, Cisco and Deutsche Telekom today announced that Israeli startups Hi-Park and n-Join will be among the 12 startups selected to join the next phase of the Challenge Up! Program. The 12 teams will participate in a 4-month incubation program designed for young innovative companies building Internet of Things (IoT) solutions.
The winning startups were selected after five days of intensive mentoring sessions, workshops and pitching during the Challenge Up! Acceleration Week at hub:raum Krakow, from July 5 July 10. Out of more than 300 applicants, twenty startups from 13 countries were invited to meet over 100 international mentors, experts and entrepreneurs. The sessions were designed to help early-stage companies scale their business ideas for faster market entry.
Participants spent close to 40 hours in workshops refining their pitching skills, product development, business modeling, user experience (UX) design and sales strategy. The startups invited to join the Challenge Up! Incubation program are:
Hi-Park'sHi-Park technology uses crowd-sourced data and images to provide information on parking vacancy. As a result, it significantly reduces the time spent on searching for parking.
n-Join leverages the rapid advancements in the Internet of Things to make production facilities more flexible, maximize their output and reduce their environmental signature.
The incubation program will take place in Krakow, Berlin and London from July to November 2015. Startups that successfully complete the program will be eligible for potential co-investment from Intel, Cisco and Deutsche Telekom, as well as other leading corporate venture funds.
Challenge Up! is designed to help IoT startups enter the market faster by combining access to corporate resources and joint projects with mentoring and high-value networking. The program unites resources and experience from the startup initiatives of the individual companies, including Cisco, Intel Business Challenge Europe and Deutsche Telekom's hub:raum.
Published by Globes [online], Israel business news - www.globes-online.com - on July 14, 2015
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