Ten IoT startups around the world will be selected to receive full service support in an agency’s effort to advance the future capabilities of the Internet of Things.
R/GA, along with the U.K. government’s IoTUK program, just launched the IoT Venture Studio UK.
Between the new Venture Studio and another similar program called Startupbootcamp, more than $1 million will be invested in IoT startup in the two programs.
That funding will come from the IoTUK program from Innovate UK, the U.K.’s innovation agency, as part of a $42 billion government initiative to expand the country’s IoT capabilities.
The 10 selected startups will gain access to the full roster of R/GA’s services in addition to the agency’s global network of brands, partners, mentors and investors.
“The jump from prototype to commercial viability is perhaps the most challenging in any area of business,” said Paul Mason, head of emerging and enabling technologies at Innovate UK.
“This carefully targeted funding will help to ensure that UK companies are better placed to take advantage of the rapidly developing Internet of Things market opportunities.”
This is the third R/GA Venture program focused specifically on supporting IoT initiatives.
R/GA is also not the only agency investing in IoT startups on a global scale.
Publicis Groupe recently invested in 19 IoT-related startups as part of the agency holding company’s Publicis90 program. That initiative selected 90 different startups and digital projects to receive funding and a year of mentoring from experts within Publicis.
One of the winning projects uses sensors in shelves to notify retailers when products are out-of-stock. The smart shelves can also track consumers’ interactions with products on the shelves.
Other winning projects were purely based around software capabilities, like augmented reality.
While the IoTUK program is generally focused on advancing physical IoT devices for areas like city infrastructure and industrial applications, R/GA intentionally remains broad in its guidelines for applicants.
Here are some of the areas of interest for R/GA’s IoT Venture Studio UK:
Beyond that list, the agency isn’t restricting the types of startups allowed to apply, as long as they can impact the future of IoT on a global scale.