At the recent IoT World Forum Steering Committee meeting one of the topics that came up again and again was innovation -the need for innovation in business models, the need for innovation in our lives as the Internet of Everything approaches, and the need for innovation with developing the "things" that will be connecting to the IoT.

One of Cisco's ongoing business strategies is to invest in innovation and so I'm excited to share that we're now accepting submissions for the Cisco Internet of Things (IoT) Innovation Grand Challenge! The Grand Challenge is a global, open competition aimed at recognizing, promoting and accelerating the adoption of breakthrough technologies and products. We wish to foster growth in startup businesses that will contribute to the growth and evolution of the Internet of Things. Cisco seeks to inspire and support the next generation of entrepreneurs and startups that are developing technologies in areas of applications, analytics, management and connectivity.

The first round of judging will happen in July when 18 ideas will be selected by Cisco judges with one "crowd favorite".  From those we'll narrow down to 6 and then the three finalists will be featured at the next IoT World Forum.

Jumpstart Your Business with A Cash Award

Cisco has committed$250,000 US in award money for the Internet of Things Innovation Grand Challenge.  Three winners will share the award money that can be used to jumpstart new and existing businesses that contribute to the Internet of Things industry.

Additionally, Cisco will also provide winners with mentoring, training, and access to business expertise from Cisco and other supporting organizations. The winners will also be provided with the opportunity to develop, test and pilot new technologies, with potential investment and partnering opportunities in the future.

Submit Your Entry by July 1

Submissions are open now through July 1 with the winners of the competition selected during the Internet of Things World Forum in Chicago, October 14 -16.

If you are a startup business or an entrepreneur developing technologies for the Internet of Things market, this challenge is for you.