India has inaugurated its first Centre of Excellence for the Internet of Things (CoE-IoT) in Bengaluru last week.
[quote] The centre is a collaboration between several organisations including Nasscom, Department of Electronics and Information Technology (DeitY) and Education and Research Network (ERNET) under the government’s Digital India initiative.
Through the establishment of the centre, the government aims to boost the adoption of Internet of Things technology, as well as foster and develop a growth strategy for IoT in India.
Nasscom, who will play a key role in creating and supporting a physical lab infrastructure to build an eco-system for budding entrepreneurs, is the premier organisation that represents and sets the tone for public policy for the Indian software industry.
IoT to accelerate smart city development
Areas for development in the Internet of Things domain will include smart city applications such as transport system, parking, electricity, waste management, water management. Other focus areas include smart health services, smart manufacturing and smart agriculture. [India opens smart grid tech. innovation centre to improve customer services]
Nasssom performed analysis through which it found that IoT market growth in India increased 28% from 2015-2016. In addition, there are approximately 120 firms offering Internet of Things solutions in India, the market also received around $60 million in funding over the last 3 years and the Indian IoT market is expected to be worth $15 billion by 2020.
This means that India will be responsible for at least 5% of global IoT market growth by 2020. [India to be the largest Internet of Things market by 2020]
Commenting on the establishment of the Centre of Excellence, Mr R Chandrashekhar, president, NASSCOM, stated: “NASSCOM is pleased on launching the IoT Centre of Excellence, which takes forward our efforts towards establishing India as a global tech hub. This Centre of Excellence has been created to act as a catalyst for developing the IoT SME/Startup ecosystem of the country as well as an accelerator of Internet of Things capabilities providing the concept and scale for industrial and societal needs."
Chandrashekhar added that the CoE-IoT will ultimately serve as an enabler of funding, accelerating, mentoring and enterprise for the key emerging startups who have been selected for incubation.