Startup Saturday Mumbai (SSMUM) February 2014 on Internet of Things
Imagine: You come to Startup Saturday, you are automatically checked in through the RFID chip in your phone, you pay registration charges through your mobile wallet and as you approve the transaction, all the details related to the event pop up on your home screen. You can view a live database of people present in the room and interact with them through your smart device.
Sounds awesome, isn’t it? This is just the beginning of the infinite possibilities of the Internet of Things or how the routine tasks we do is being impacted by the Internet, thus enhancing our overall experience.
This was the inspiration behind the theme Internet of Things for the February 2014 for SSMUM.
The month of January was abuzz with the news of Google Inc. acquiring Nest for $3.2bn. This news made the Mumbai team all the more excited because it was related to the Internet of Things. Nest is a 3 year old Startup, which specializes in making Thermostats which remember the temperature preferences of its users. This connectivity between the hardware and software with emphasis on a contextual awareness is made possible by the Internet.
With greater mobile phone penetration, access to Data Services, things will gain higher processing power, contextual awareness and greater sensing capabilities. This forms the basis of the Internet of Things. Cisco CEO John Chambers, recently said the “Internet of Things” market could be worth $19 trillion.
The first session of SSMUM started with Kruttika Bandhavkar and Rahul Chidgopkar from Track RF Link, which is a pioneer in the field of Radio Frequency Identification (RFID) based products. Rahul shared his insights on how RFID technology has multiple applications and is being used across various industries with the help of Internet of Things (#IoT). In answering an audience question, Kruttika suggested that integration of technology at the hardware level eg: A common USB and Power cable can help avoid misuse of the technology. Rahul and Kruttika also shared a case study of Larsen and Toubro with the audience about implementing the machine shop monitoring system.
An engaging discussion on Barcode vs. RFID vs. UFH in Industrial and Retail applications followed with the Speakers and the audience. We also learnt that accuracy in inventory management has improved from 76% to 92% on using RFID. Managing data noise and cost of RFID chips are some of the challenges in implementation of the technology.
Mohit Lalvani, Founder of QuikWallet, started his session with a video on the future of technology:
(Video coming soon)
His mobile app QuikWallet, works on a closed loop model and lets you add your debit, credit and loyalty cards on your phone to manage payments. It is probably how payments will be made in the future. Audience questions and discussions revolved around the RBI system of licensing transactions of money and the Payments Systems Acceptance Act. There was alot of interaction regarding the security of online wallets, storing data on Cloud vs. storing data on Device.
The application of Internet of Things is amazing. According to Dave Evans, Chief Futurist, Cisco, IoT is made up of a loose collection of disparate, purpose-built networks. Today’s cars, for example, have multiple networks to control engine function, safety features, communications systems, and so on. Commercial and residential buildings also have various control systems for heating, venting, and air conditioning (HVAC); telephone service; security; and lighting. As IoT evolves, these networks, and many others, will be connected with added security, analytics, and management capabilities. This will allow IoT to become even more powerful in what it can help people achieve.
The next session discussed helping shoppers achieve a seamless shopping experience using the Internet. Jayesh Sidhwani and Rajat Goyal of ShopSense.Co, showcased the changing face of the retail Industry. ShopSense is an online catalog of all the products and options available in a store. With technology like a smart sensor mat connected to the app, it analyses the arch of your foot, whether you are flat footed or not and tells you which type of shoe will be suitable for you. Based on your size, all the options available in the store pop up on the screen. And this is just the beginning. With smart shelves and 3D garment models, there is lots to look forward to in the coming months.
Mayur Aggarwal, Founder of ShipEasy.in and Karan Patel, Founder, Avsar.org made Lightening Pitches about their new startup. We wish them all the very best with the new ventures.
There was an open house where the audience and speakers could interact. Hiring for Startups, Market research, creating a Minimum Viable Product (MVP) were some of the questions answered by the expert panel.
The discussions continued over snacks at the College Bistro and that marked the end of yet another interactive and engaging session of SSMUM. For updates on upcoming events, stay tuned to our Facebook page and Twitter handle.
An outstanding share! I have just forwarded this onto
a co-worker who has been doing a little homework on this.
And he in fact bought me dinner due to the fact that I found
it for him… lol. So allow me to reword this…. Thank YOU for the meal!!
But yeah, thanx for spending time to discuss this subject here on your internet site.