Cisco Announces Winners of IoT Innovation and Security Grand Challenges; Launches Worldwide IoT Challenge for Young Women

CHICAGO, IL--(Marketwired - Oct 15, 2014) -  IoT World Forum 2014 -- Cisco (NASDAQ: CSCO) -- Today during a keynote address at the Internet of Things World Forum in Chicago, Cisco CTO Padmasree Warrior announced the winners of three global Internet of Things (IoT) Grand Challenges aimed at recognizing, promoting and accelerating the adoption of breakthrough technologies and products that contribute to the growth and evolution of the IoT. Cisco today also announced that in concert with a global network of companies in the IoT space, local organizations and non-profits dedicated to women in STEM, it is launching a worldwide Internet of Things World Forum (IoTWF) Young Women's Innovation Grand Challenge.

Earlier this year, Cisco launched two separate global IoT Grand Challenges in the areas of Security and Innovation. The Internet of Things represents tremendous opportunity requiring the industry to work together to solve key technology and business challenges. Through the Grand Challenges, Cisco invited and encouraged startups, entrepreneurs and universities to submit their best solution ideas for the Internet of Things.

In addition to cash prizes of more than $550,000 for the Innovation and Security Grand Challenges, Cisco intends to provide winners with mentoring, training and access to business expertise from Cisco and other supporting organizations. They will be able to develop, test and pilot new technologies, plus have the opportunity for potential investment and partnering opportunities in the future. Entrants and winners retain the IP for any and all ideas submitted.

"The Internet of Things is real and happening today. This week at the IoT World Forum, we've seen evidence of broad deployments and worldwide adoption of IoT across organizations of many sizes and across many industries," said Padmasree Warrior, Chief Technology and Strategy Officer of Cisco. "The breakthrough technologies demonstrated by our IoT Grand Challenge finalists are further proof that IoT is already changing the way we live, work, play, and learn. The IoT Grand Challenges represent Cisco's ongoing commitment to invest in and incubate the next big innovations."

Cisco partners with startups and universities through a network of Cisco® IoE Innovation Centers around the world. Through the three challenges and over 1000 entries, Cisco witnessed the diverse set of global submissions from over 71 countries from areas that spanned the connected home to cognitive computing, connected manufacturing and advanced communications systems. Judges evaluated the ideas based on market opportunity, level of disruption, uniqueness, and the management team's ability to succeed. Cisco has a unique and rich history of supporting innovation and a diverse range of entrepreneurial ideas that change the way the world lives, works, plays and learns.