VC Robert Bosch, global insurance firm ‘StateFarm’ tie-up as partners for IoT startups accelerator programme

California, July 28, 2014: If you are a startup in the world of the Internet of Things (IoT), here’s some news that will bring you cheer.

plugandplayRobert Bosch Venture Capital GmbH (RBVC) and one of the biggest insurance firms in the world, StateFarm, have partnered with Plug and Play for their newest program, Plug and Play Internet of Things Accelerator (IoT). The latter is a 12-week startup acceleration program based in Silicon Valley, USA. Plug and Play, along with a round-table of corporations and industry experts, will jointly select the startups that will be accepted into the program and invited to Silicon Valley.

Through tailored deal flow, themed workshops, and face-to-face interaction, Plug and Play IoT will enable corporations to engage with startups that may complement their respective suite of offerings or create new potential revenue streams. Startups accepted into the program will receive funding from Plug and Play Ventures, weekly mentor sessions with industry thought-leaders, and opportunities for potential pilot projects, all culminating at the Plug and Play quarterly demo day. Dedicated startups will additionally get access to the complete sensor portfolio from Bosch Sensortec.

All the 30 startups include in this programme will get:

– Bus Dev: Pitch to the right people at corporations (see the calendar at plugandplaytechcenter.com/calendar)
– Potential Funding from Plug and Play Ventures (the accelerator is stage agnostic, so funding opportunities for seed and early stage companies)
– Weekly mentor sessions with participating Corporate Partners, Industry Experts, and VCs
– Technology feedback workshops and pilot project opportunities with Anchor Partners
– Silicon Valley office space and amenities
– Pitch before hundreds of corporations, media, and investors at Plug and Play’s EXPO on December 11, 2014

The application deadline is Aug 1, 2014 and the programme is scheduled to begin on September 11.

Plug and Play Tech Center is a global investor and technology accelerator that specializes in growing tech startups and is headquartered in Sunnyvale, California, USA.

Robert Bosch Venture Capital GmbH, on the other hand, is a fully owned subsidiary of Robert Bosch GmbH and invests worldwide in innovative start-up companies at all stages of their development.

Image Credit: Plug and Play Tech Center

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