The new IngDan Center of Excellence showcases IoT products.
IngDan has opened a new IoT innovation hub in Santa Clara, CA as part of its $35 million expansion in the region.
The 6,000-square-foot hub, known as a “Center of Excellence,” opened in early December. It is IngDan’s sixth such hub overall, and its first in the US. It’s open free to the public to show emerging tech gadgets and is open to innovators and entrepreneurs to promote products and host workshops, events, and forums. The products on display aren’t limited to those developed in conjunction with IngDan. Any startup can apply to have their new tech gadgets included at the center.
“IoT is the next industrial revolution, poised to usher in a new golden age of innovation and economic progress” said Shipeng Li, CTO of IngDan and Cogobuy Group, IngDan’s parent company. “Innovators and investors in the US and China are paving IoT’s early pathways to success. IngDan is committed to empowering IoT hardware innovators by connecting them to world-class investors, supply chain partners and marketing partners.”
Santa Clara was chosen as the location for the new hub, Li said, because, “Silicon Valley is the tech innovation center in the US—maybe in the world.”
IngDan is investing in IoT because, according to figures from the IDC and MachinaResearch, US investments in IoT are expected to grow from $230 billion this year to $370 billion in 2018. By 2025, total global IoT revenue from sales and services is expected to reach $3 trillion, with a total potential global impact of $3.9 trillion to $11.1 trillion.
Some of the tech on display at IngDan’s new center in the Silicon Valley includes SmartyPans, which are intelligent cooking devices; Xiao You, which is a service robot; and Jisiwei, a smart robot vacuum that can also watch your home and pet by remote control through the camera and a smartphone app.
As part of an overall IoT expansion, Ing Dan has partnered with Tsing Capital and SVC Angel Fund to provide financial services to IoT developers and startups through the center.
Companies producing new IoT gadgets will be able to leverage IngDan’s supply chain and access to local resources and the Chinese market in order to accelerate their expansion. It will also customize funding models for IoT and smart technology startups, and offer mentorships with industry leaders.
“This is a win-win relationship for Tsing Capital, IngDan, and most importantly for IoT innovators who are looking for funding and supply chain support,” said Don Ye, founding managing partner at Tsing Capital. “With IngDan, we’re excited to offer our portfolio companies a vastly expanded value proposition to help transform an early-stage IoT startup with a product idea and a vision into a formidable international player with an efficient and reliable supply chain reaching customers from around the globe.”
The other IngDan Centers of Excellence around the world are in China in Shenzhen, Beijing, Chongqing, Shunde and also in Hong Kong.
Three takeaways for TechRepublic readers
IngDan recently opened its first IoT Center of Excellence in the US and it is in the Silicon Valley.
IngDan plans to invest a total of $35 million in the Silicon Valley region.
An IngDan partnership with Tsing Capital and SVC Angel Fund will help provide funding to startups and IoT entrepreneurs.