TORONTO, ON--(Marketwired - March 01, 2016) -
Internet of Things Inc.
(TSX VENTURE: ITT) ("IoT Inc." or the "Company"), a technology company that is developing and investing in disruptive IoT technologies and solutions, would like to announce that BrainGrid Corporation ("BrainGrid") successfully demonstrated the 'Sentroller,' its first fully commercialized IoT enabling device, at the newly launched Cisco Internet of Everything Innovation Centre Toronto.
The Cisco Innovation Centre Toronto is one of nine Cisco Innovation Centres worldwide and is designed to catalyze and showcase digital innovation and development; in a nutshell, it is Canada's brand new hub for open technology innovation. "The mantra of the Toronto Innovation Centre is Inspire, Innovate and Invest," said Bernadette Wightman, president of Cisco Canada. "Inspire the next great minds of tomorrow. Foster innovation and big ideas today. And invest in the potential game-changing companies of tomorrow."
Cisco estimates global IoE opportunities to be worth $19-trillion by 2022, including US$400 billion to the Canadian private sector over the next decade. For the public sector, these opportunities could produce US$95 billion in cost savings, new revenues, and employee productivity enhancements over the same period. This state-of-the-art development centre will bring together customers, partners, start-ups, accelerators, governments, universities and researchers to foster local and global innovation, with the Toronto Innovation Centre aiming to lead the transformation.
BrainGrid is pleased to have partnered with Cisco and the Innovation Centre and looks forward to continue working with leaders in the Internet of Things market. As a function of its partnership with Cisco, the Sentroller has a fixed-installation in the Toronto Innovation Centre where BrainGrid continues to demonstrate and showcase its technology to strategic investors and innovators, as well as host meetings and entertain potential clients.
More About the Cisco Innovation Centre
The Cisco Innovation Centre Toronto is designed to transform the status quo by bringing together customers, partners, startups, accelerators, governments, universities, researchers, and open communities to:
- Educate, mentor and develop Canadian talent in the areas of STEM
- Provide physical and virtual laboratories for proof of concept development, experimentation and testing on Cisco's open digital platform
- Provide customer innovation rooms to co-create and prototype new solutions
- Foster local and global innovation by investing in startups, university and research partnerships
- Provide access to a global network to share success stories, best practices and market expertise
- Demonstrate cutting edge technology solutions and share thought leadership
The Cisco Innovation Centre Toronto specializes in building solutions and advancing projects in the areas of Smart Cities, Smart Buildings, Healthcare, Financial Services and Manufacturing.
BrainGrid Solutions Business Update
Internet of Things Inc. would also like to provide an update on business activities at BrainGrid Solutions, its 50-50 partnership collaboration with BrainGrid. BrainGrid Solutions gives clients a way to manage system devices by reducing costs; saving time; and increasing reliability, scalability and overall system performance through advanced wireless monitoring and control. Initial markets include China, Taiwan and Hong Kong, however the joint venture company continues to evaluate, negotiate and develop other international markets across a wide array of applications and verticals.
Management has held discussions with a number of representatives from Chinese companies who have expressed significant interest in the solution. Marketing and technology teams have prepared a series of "explainer" and case study videos aimed at generating customer engagement in selected key markets. Additionally, the concept IoT demo center has been approved and will commence design immediately and is expected to be delivered in Q2, 2016.
Cisco is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected. Cisco products and services are supplied in Canada by Cisco Systems Canada Co., a wholly owned subsidiary of Cisco Systems, Inc.
About Internet of Things Inc.
(TSX VENTURE: ITT)
Internet of Things Inc. (www.iotintl.com) is an IoT technology accelerator and industry acquisition company. ITT is focused on accelerating IoT-based technology companies, and the development and implementation of disruptive IoT-based solutions. Internet of Things Inc. will partner with companies across a wide range of industries to leverage the power of IoT. The Company maintains offices in Toronto, Canada and Kolkata, India.
To learn more, visit: www.iotintl.com and www.braingrid.org
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. We undertake no obligation to reissue or update any forward looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.
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