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Israeli startups Hi-Park and n-Join have been selected to join a European startup incubator from Intel, Cisco and Deutsche Telecom called Challenge Up.
n-Join offers a service which it promises will make factories more “efficient, profitable and sustainable.”
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The company boasts that it can transforms any factory into a smart factory, increasing efficiency while also reducing its environmental impact.
Its technology “listens” to a factory’s machine-to-machine communications, analyzes that data in real time, and provides “powerful, customized tools and insights to factory operators and managers alike.”
Hi-Park offers an app which helps people find parking spaces. It also helps users detect hazards on the road and find the cheapest gas stations.
Challenge Up offers participating startups support to accelerate the go-to-market preparation and commercialization of their projects, as well as access to expert networks all around the world.
The top startups in the program are eligible for potential co-investment from Cisco, Intel and Deutsche Telekom and from leading corporate venture funds.
The program is free to start-ups, no equity is required for participation, and startups keep their Intellectual Property. Challenge Up! will even cover travel and accommodation costs incurred through the program.
Each corporation will bring significant value to the program: Cisco brings IoT and Big Data/analytics expertise as well as networking, platform and product know-how. Intel provides smart connected solutions for the IoT from devices to data centers including software and hardware architecture and engineering, data analytics and security. Deutsche Telekom brings connectivity, business integration and sales know-how.
