Royal Philips (NYSE: PHG, AEX: PHIA), the global leader in lighting, aims to collaborate with the world’s top technology start-ups, pushing the boundaries of connected lighting for the Internet of Things (IoT). The company has teamed up with Silicon Valley’s Plug and Play Tech Center, one of the world’s largest accelerators, to mentor and partner with some of the newest, most exciting IoT innovators.
Plug and Play introduces start-ups to corporations and investors to accelerate their commercial development. It will work with Philips to filter hundreds of IoT-orientated start-ups that match Philips’ most relevant technology needs. Of particular interest are innovators in sensor data, analytics and connected lighting for buildings and smart cities.
“Silicon Valley is pulsing with many promising Internet of Things start-ups. Our partnership with Plug and Play represents our most recent commitment to Open Innovation, a highly collaborative ‘outside-in’ approach that helps us gain new insights,” said Olivia Qiu, Chief Innovation Officer at Philips Lighting. “As an anchor partner, Philips will steer the technology focus toward connected lighting and base experts on-site in Sunnyvale, California, where they will identify and nurture talent, building our capabilities in this rapidly growing market.”
The connectivity of LED lighting to IP networks, sensors and software control systems is transforming the lighting industry. Lighting is at the heart of the Internet of Things due to connectivity and its presence everywhere, in homes, cities and professional environments.
Connected lighting enhances energy savings because it can be controlled to provide the right light, in the right place at the right time. Furthermore, data generated by (and aggregated from) embedded sensors can help deliver new business outcomes, such as:
- Data from occupancy sensors providing new insights into building utilization to help businesses optimize their real estate expenses.
- Supermarket lighting fixtures transmitting their location to smartphones so that shoppers can use an app to navigate to items in a store and access location-based offers.
About Plug & Play
Plug and Play Tech Center is a global investor and technology accelerator that specializes in growing tech startups. Headquartered in Sunnyvale California, Plug and Play’s network includes over 300 tech startups, 180 investors, and a community of leading Universities and corporate partners.