Canada’s accelerator for deep tech startups, L-SPARK, has partnered with three other companies to launch a new program for Canadian internet of things (IoT) ventures.
The Secure IoT Accelerator program, launched by L-SPARK and telecommunications company TELUS, in collaboration with BlackBerry and Solace, will provide mentorship and resources for startups to grow and contribute to the Canadian IoT market.
“Adoption of IoT products and services by Canadian firms is accelerating at a rapid clip, and industry analysts predict the global connected IoT devices market will grow at a compound annual growth rate (CAGR) of approximately 19 percent through 2023,” said Leo Lax, Executive Managing Director of L-SPARK.
Lax was referring to a research report published by Market Research Future citing the North American region as holding the largest share of the IoT market across the globe, followed by Europe, and the Asia-Pacific region.
Globally, the projection is that the IoT market is expected to grow to $6.5 trillion by 2024. In Canada, research firm IDC predicts that IoT will be a $2- billion market by 2018.
L-Spark’s Secure IoT Accelerator program is now accepting applications from growth stage companies developing IoT products in industries including automotive, healthcare, access management, smart home and building, retail and supply chain management, logistics and fleet management, natural resources, and asset management.
Startups that will be chosen to join the four-month program will receive exclusive access to LTE-M ready software development kits (SDK) from the corporate partners. They will also get technical mentoring from TELUS, BlackBerry, and Solace experts.
The partners said the Secure IoT Accelerator program will support companies in developing IoT products and services that will use the combined capabilities of TELUS’ global connectivity and IoT cybersecurity services, BlackBerry’s secure operating system, and Solace’s data movement capabilities.
“TELUS is dedicated to fostering a thriving and secure IoT ecosystem in Canada, capable of both serving the needs of Canadians and providing reach to markets around the globe,” said Ibrahim Gedeon, CTO, TELUS.
TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment, video and home and business security.
Meanwhile, Canadian smartphone maker BlackBerry, which has thrown its hat into the domain of IoT security with the launch of the Enterprise of Things (EoT) platform in 2018, provides the technology that allows endpoints to trust one another, communicate securely, and maintain privacy.
“We believe the winners in IoT will be the companies that realize security is not an added cost but a valuable differentiator,” said Charles Eagan, Chief Technology Officer, BlackBerry.
Meanwhile, Solace’s chief business development officer Paul Fitzpatrick cited the need for manufacturers to deliver safe and secure IoT devices that consumers and enterprises can trust.