Three startups to solve IoT industry’s greatest challenge
Always-on smart devices are expected to generate $11 trillion in economic value by 2025. However, a great pain exists between the creators of Internet of Things products and widespread consumer adoption: integration.
It costs an average of two to three years and more than $1 million to develop custom cloud technology, which is why Droplit was created to enable whole communities of smart service providers and developers to address problems quickly in an open, universal smart environment. The company’s many partnerships support Fortune 500 clients like Qualcomm — a company that had struggled to get to the cloud for half a decade — by cutting development costs. Droplit founders say they will continue to foster new partnerships with a diverse set of high value industries as a means of scaling success for connectivity stakeholders everywhere. They will continue to do this as part of their efforts to develop a robust, open API benefitting leaders in IoT development.
In 2017, the team partnered with smart apartment specialists at Homebase and the Deako smart switch, a Y Combinator company, to solve for the issue of fragmentation that stands between property managers, creators of smart hardware, and the expectations of tomorrow’s residents.
“These partnerships help us to create a new revenue stream, enhance operational efficiency and the living experience of our residents,” CEO of Homebase, Blake Miller said. “We see Homebase as an operating system where the smart apartment experience is seamless and to do that well we need partners who are a good cultural fit and who we can trust.”
Y Combinator alum and Chief Revenue Officer at Deako, Wes Nicol, says it is critical for IoT companies to remain focused in the IoT field. His company offers a smart switch to high value industries and that he often receives special requests for smart product integrations that his team does not have the bandwidth to manage.
“At Deako, we set out to make it easy for people to adopt smart technology,” Nicol said. “‘Does this work with that’ is the biggest IoT challenge today. Working with Droplit helps us to get different things to work together and to deliver that seamless experience that people want.”
The teams say whole industries are soon-to-be accountable to delivering new and unique smart experiences to their customers long term. COO of Droplit, Preston Tesvich says partnerships like the one with Homebase and Deako are critical to delivering that paradigm. He says industry leaders like former CEO of Cisco, John Chambers, are confident that — as with cell phones today — it will be common for people to have a choice app installed to control their home in the next five years but that integration partnerships will be key to mass adoption.
“Our goal as a hosting company is to be the choice infrastructure partner” Tesvich said. “This eliminates the issue of integration for anyone in the IoT space so that — whether you’re a hardware or software company — our customers can focus on making money.”
This year the three teams say that their focus will be ensuring that a 5-star seamless experience is available to customers as each company scales. Setting a new, consistent standard for smart communities is a first step, they say, to ensuring perpetual success for everyone involved.
“We’re focusing on our piece of the pie and we need partners like Droplit and Homebase to fill the missing partners of our solution” Nicol said. “If we focus on what we do best and you focus on what you do best, at the end of the day, the customer wins.”
Deako, Droplit, and Homebase will be on-the-ground at CES in Las Vegas this week. The teams will host an exclusive smart tech popup experience at the Venetian Hotel from Jan 8 – 11th. For more information on the event or opportunities for smart tech partnerships, email firstname.lastname@example.org.