06: The Internet of Things

Bryon Western and Jim Lewis of Little Bird Systems talks with us about the internet of things. The Product Rapid Commercialization System for the Industrial Internet of Things - lego building block approach to building electronics  Difference from other companies : Giving the very quick path from the bench-top prototype to something that they can commercialize and take to market. Internet of Things - trend in industry that connect electronics to any physical object, measure data on such object and perform an action on that object. FOCUS : Industrial Market Bandwidth Discipline - optimize protocol - system that are not highly bandwidth thing  Sale Cycle -  Up to a year from completion of development cycle (which takes about 18 months to 2 years) for them to get back or realize income The Business Model and How Money is Generated from this product GOAL :  To move people from that bench-top prototype  to a 2nd stage ruggedize prototype (mass produced unit) - provide service to create their customer electronics - sell them the hardware they need to sell their products to customers (JIM’s Perspective on what they do)  What is the market? 15 Trillion dollar market  Glad to have partners with business intellects How to startup a company (based on their experience) Laying plans - what is the market? how to approach the market? what would set you apart from someone else?  Getting everything in place - operating plans, financial model  Opportunity to make difference in the world, in the industry you are attacking  (BRYON’s Perspective on what they do)  Be involved - hire people who can contribute  Entrepreneur Programs could help you operate the business - adding technical knowledge CEO vs employee in the startup : As an employee, you have to deal with every aspect of the business - keeping contacts - inform the people what you are doing and Delegating tasks - trust people that they can also do what you can do  ADVICE : Creating a company Based on Technology  Get a business person - somebody who have worked with technology - if you explain something to somebody and don't they get it, it is not their fault it's your fault - practice the skill of simplifying things and communicating it to people  What’s the future of Technology-based businesses in Arkansas Prediction: 2020 - 50 billion devices will connect to internet - whereas right now 90% are not connected. What’s right in Arkansas as an area of startup technology companies?  A lot of Manufacturing and Agriculture is going on so the advantage is you can get first hand information from people who needs the solution For Arkansas to grow with technical startup companies/businesses companies must be responsible for specifically defining what is to be done to be a technical startups (e.g. execution of invention assignment agreements)  Research areas must be confined to such specific business that they are in  Our contact info: Jeff Amerinejeff@startupjunkieconsulting.comwww.startupjunkieconsulting.com Jon Cadieuxjon@455mediagroup.comwww.455mediagroup.comwww.bentonvilleworkplace.com