08 July 2016 Current Affairs: The National Association of Software and Services Companies (NASSCOM) has unveiled India’s first Centre of Excellence focused on Internet of Things (CoE- IoT) on 7 July 2016,at its Startup Warehouse in Bengaluru.
The centre was launched in a bid to encourage start-ups to come up with tech solutions centred on Internet of Things (IoT).
Highlights : The centre is a joint initiative between the Department of Electronics and Information Technology (DeITY), Education and Research Network (ERNET) and NASSCOM.
It is also supported by Accenture, Cisco, Intel, HCL Technologies, Qualcomm, TCS and L&T Technology Services, among others.
It will function as an enabler of funding, accelerating, and mentoring for start-ups in this area.
The CoE laboratory, along with the Nasscom 10000 Startups Warehouse, has the capacity to incubate up to 40 start-ups.
The buzz around Internet of Things is gaining momentum globally as well as in India as companies see the benefit of installing sensors embedded in their systems that can help them get better insights of their systems.
Industry estimates point out that there are 120 IoT focused companies, addressing an expected market opportunity of 15 billion US dollars by 2020.