Plug and Play

IoT Internet of Thursdays Future Trends Panel Discussion

RJ Carver, who writes for Plug and Play, put together this piece on the IoT Future Trends Panel Discussion held on August 21 at Plug and Play in Sunnyvale, CA.

 

Internet of Thursdays - Aug 21, 2014

Left to Right: Redge Snodgrass, Founder & CEO of WearableWorld.com; Andrew Clark, Director of Strategy for IBM’s Venture Capital Group; Stefano Marzani, CEO of DQuid; Josh Bradshaw, Founder of WorkTechWork.com; Ludovic Copere, Manager of Growth Ventures and Innovation for Sony; Eduardo Pinheiro, CEO and Co-Founder of Muzzley.

 

 

BTLE Enabled Proximity Technology Working for the CMO

I love sitting down with entrepreneurs in Silicon Valley and hearing what they are up to.  The conversations usually goes well beyond what is on their website because they’re either in ‘stealth mode’ or too busy changing the world to worry about keeping a website 100% up to date.  Their determination to change the word with technology doing new and amazing things for you is absolutely exciting.  Carlo Capello, CEO of ProxToMe is no exception.

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I met Carlo at Silicon Valley’s 2014 Italian Innovation Day and have had the opportunity to chat with him about a wide range of topics as well as to see him pitch (his was one of the 55 Plug and Play pitches I write about here).  Carlo has positioned ProxToMe as a Proximity-as-a-Service solution for proximity based interaction.  What that means to B2C and even B2B CMOs is that using ProxToMe’s patented technology, businesses with mobile apps can first recognize and then share content with customers based on proximity to Bluetooth Low Energy (BLTE) beacons.

Carlo and his team began working with BTLE before Apple’s iBeacon move.  Now that essentially every iPhone is a beacon, ProxToMe’s solution and expertise in this domain mean amazing things for their customers.  “We do for offline businesses what Amazon does online. We let our clients learn more about their customers shopping habits and provide a new direct channel to influence what they buy,” Carlo says.

ProxToMe provides brands and retailers a full hardware and software solution comprised of Bluetooth tags and a mobile SDK (software development kit for my marketing friends).  This way the brand maintains control of the in-app experience and can leverage all of the insight they may have with respect to a particular customer at the point in time they approach a beacon.

Ben Davis from Econsultancy makes the point, “Retail apps still have their place in a mobile optimized world, but they’re increasingly characterized as devices for customer retention.”  ProxToMe helps avoid that characterization by generating customer involvement based on location, a form of context.

With contextually intelligent systems such as those offered by ContextM,  the ProxToMe solution becomes even more powerful because it brings the ability to not only send messages to customers in the store but to send the right message in store, a message that will increase wallet share and improve customer retention and engagement.

55 Startup Pitches + 900 Attendees + Great Food = Success at Plug and Play Expo March 27, 2014

A well-known fact about the current US financial recovery is that without the Silicon Valley’s tech industry, the lackluster recovery wouldn’t be a recovery. One thing is for sure, there is anything but lackluster opportunity in the Silicon Valley, especially if the pitches of 55 startup companies at Plug and Play’s Expo on March 27, 2014 indicate where things are going.

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The 55 companies that presented deserve congratulations for the guts to do all that entrepreneurs do to turn ideas into value propositions worthy of presenting to an audience of venture capitalists, media, industry peers, competitors, fellow entrepreneurs and supportive friends, family and fools. The judges voted and selected winners from the sessions of the day, two from Brand & Retail (Tulip Retail and runner up Mashgin) and three from Startup Camp, Portfolio & International (Shippo, Goji and Altitude). Ultimately, the real winners are those that secured funding sufficient to take their ideas to market and perhaps become the next eBay, Facebook, Twitter or Amazon.

I leave it to others to focus on the successes of the winners and share here some thoughts for those who did not win in votes or dollars. Among other things, you face the challenges of demonstrating value to entice investment, of pivoting to new opportunities or of running to insolvency to start again at some future time on a new idea.

Demonstrate Value

Did you present a true value proposition? Whatever you are engaged in, remember the primal objective is to create value, value for your customers, value for your investors and value for yourselves; this isn’t just about the experience culminating with drinks and tasty BBQ chicken strips. Reasons abound for why investors do not understand a value proposition, the most obvious being you have not figured out or understood what a value proposition really is. Another less obvious reason involves some introspection. The idea may not have presented well due to incomplete information on slides, poor presentation skills, language barriers and even holding the microphone too far away so the audience cannot hear. These things and others get in the way of people understanding your results.

Pivot

If at first you don’t succeed, pivot! A shout out to Redtroops who, in the six weeks since I first met them, has pivoted to their pitch at the event and is now positioned as an eBay for in app advertising. For those not familiar with pivoting, take a look at the book The Lean Startup by Eric Ries and get ready for exciting changes of direction based on insight gained from hypothesis testing.

Insolvency

Value propositions cannot be found and presented well, hypothesis testing on pivot options yields no better options, all other efforts are expended and the cash runs out. Battle wounds result and every successful entrepreneur has them. Even the entrepreneurs that appear to strike gold on their first attempt made some mistakes. Enjoy the failure.  Look internally for what went wrong.  Learn from what you discover.  Continue to find ways to use technology to solve the world’s problems.