Data Intelligence, Business Analytics
ARMONK, N.Y., June 23, 2011 /PRNewswire/ -- A new generation of startups is entering the market with software designed to analyze large volumes of data, IBM (NYSE: IBM) said today. The company is coaching a new group of entrepreneurs who will compete next week in the New York City IBM Global Entrepreneur SmartCamp competition. The five finalists have developed software that helps people and businesses better manage energy consumption, monitor environmental hazards, understand mobile device usage patterns and track brand sentiment.
Today, 83 percent of midmarket CIOs surveyed by IBM have identified analytics, the ability to extract actionable insights from "Big Data" as their top-priority investment area. Software that uses Watson-like analytics to interpret and apply big data represents a unique opportunity for the entrepreneur community. IBM's Watson, the machine that bested Jeopardy! quiz show champs, represents the most advanced analytics technology available.
Five startups whose technology and business model capitalizes on this trend will meet with IBM and the venture capital community at the New York competition June 28 and 29. By pushing the boundaries of what is possible with analytics, cloud and mobile computing, these entrepreneurs are creating new business opportunities and driving economic growth.
"Startups face tremendous challenges in a global market, especially as they compete against much large companies going after the data analytics opportunity," said Jim Corgel, general manager, Developer Relations, IBM. "IBM can convert these companies from startups to speedups by providing coaching and connections to IBM clients and partners. We help these startups get to market faster and at the same time, we provide IBM clients with the hottest new technologies."
The finalists at SmartCamp New York include:
IBM SmartCamps bring together innovative entrepreneurs with venture capitalists, academics and other industry leaders to provide coaching and critical industry support and advice. These events are part of IBM's commitment to the Obama administration StartUp America initiative.
Small and medium sized companies have long been the engines driving economic growth. They are responsible for nearly 65 percent of the global GDP – representing more than 90 percent of all businesses and employing over 90 percent of the world's workforce. This group of entrepreneurial companies faces stiff competition, not only in their local markets, but also with larger enterprises across an increasingly global marketplace. (Source: Organization for Economic Cooperation). The IBM SmartCamps are designed to provide these entrepreneurs with the mentoring and insight needed to continue to drive growth and innovation in their markets.
SmartCamp New York is part of the IBM Global Entrepreneur initiative, which is designed to bring new technologies to market faster that tackle some of the world's most pressing issues. The five finalists were selected from more than 200 startup companies that are creating new technologies in critical areas such as healthcare, energy and environment, and other services that improve the life of citizens around the globe.
IBM SmartCamps judge the best start-up company in different cities around the globe, rewarding the winners with mentoring, services, access to industry experts, and deeper partnership opportunities from IBM, venture capital firms and industry partners. The winner will also be invited to the next SmartCamp World Finals to square off against other SmartCamp winners from around the globe to claim the title of "IBM Global Entrepreneur of the Year."
Vote for Your Favorite SmartCamp New York Finalist with the IBM SmartCamp People's Vote Award
Help us pick the IBM SmartCamp Online People's Vote Award winner. Each of the final five startups has created a one-minute video pitch that you will be able to watch on the Smarter Planet blog at ASmarterPlanet.com. After watching the pitch videos and watching the companies live on LiveStream, you will be able to vote for your favorite. Voting begins June 23 atwww.asmarterplanet.com.
The event will be webcast at www.livestream.com/ibmsoftware. There will also be live blogging on ASmarterPlanet.com onJune 28 at http://bit.ly/kFS3Kn and on June 29 at http://bit.ly/iYPQ39. In addition, you can follow the action on People for a Smarter Planet on Facebook at http://on.fb.me/9S1Jp8, and on Twitter at #IBMSmartCamp.
For more information about the IBM Global Entrepreneur initiative, please visit: http://www.ibm.com/isv/startup. For more information on the IBM Venture Capital Group, please visit http://www.ibm.com/venturecapitalgroup.
IBM Media Relations