|By Marketwired .||
|April 15, 2014 05:41 PM EDT||
WATERLOO, ON--(Marketwired - April 15, 2014) - Hardware is making a comeback and is spawning a strong ecosystem for the next generation of technology development, according to leading entrepreneurs at the Waterloo Innovation Summit at the University of Waterloo.
After several years in which software led the technology industry, Eric Migicovsky, founder and CEO of Pebble, and Matt Rendall, founder and CEO of Clearpath Robotics Inc., said that the time is ripe for hardware-focused companies to grow. But they had a caveat: in order to succeed, companies need to focus as much on their business case as the technology they are developing.
"A startup's main goal is to make something that people want," said Migicovsky, adding that understanding a product's market fit is paramount for success.
Rendall discussed the growing need for robotics, from search and rescue to performing what he calls the dullest, dirtiest and deadliest jobs. He said that his company's key to success is working closely with customers to learn what they need and want.
The importance of understanding the business case also came up again in the talk by Wal van Lierop, the co-founder and CEO of Chrysalix Energy Venture Capital. He discussed the need for engineers and entrepreneurs to think critically when they are sitting in front of their computer at 3 a.m. looking over the latest iteration of their great technology idea.
Innovation is meaningless until someone is willing to pay for it, said van Lierop.
Technology risk versus market risk
Helge Seetzen, CEO of TandemLaunch Inc., said that young companies need to push the envelope when it comes to their technology developments but be more conservative when assessing the market's need for their technology.
"Market risk kills companies and therefore makes for bad investments," Seetzen said.
Referring to the process that Clearpath has taken to understand and respond to its market, Matt Rendall agreed that it was critical to understand the business case for his company's products.
"It is not market risk, it is proven that people want robotics," he said. He also agreed that it is important to take technology risks saying that startups need to "fail fast, fail cheap, fail often."
On funding Seetzen said that it is important for investors to have specialized knowledge in the fields they are investing in so they can properly assess a technology's market risk.
Waterloo innovation ecosystem
Feridun Hamdullahpur, president and vice-chancellor of the University, opened the summit by addressing the importance of technology innovation in building a stronger global community. He stressed the importance of the role that Waterloo Region plays on the global stage, with the University at its heart.
Hamdullahpur specifically underlined the region's strength as a technology hub as well an area with many entrepreneurs. "It is very rare to find both in existence in the same place," he said.
During a panel discussion, Stephen Lake, co-founder and CEO of Thalmic Labs Inc, Michael Litt, founder of Vidyard, and Eric Migicovsky discussed the close-knit Waterloo ecosystem. The young entrepreneurs reinforced the positive impact of having other technology entrepreneurs so close at hand. "We have talent in the ecosystem and the community," said Lake.
Litt added that his education at University of Waterloo was critical in his development as an entrepreneur. "The university education here was absolutely vital to where I am today," he said.
Gary Goodyear, Minister of State responsible for the Federal Economic Development Agency for Southern Ontario, also spoke at the summit. Goodyear said that Canada is "in a position of envy of so many countries around the world" as he discussed the importance of innovation in Canada's future.
Women in technology
Susan Fonseca, founder of Women@TheFrontier, spoke about the lack of women as technology role models and the impact this issue has on the producing the next generation of women innovators.
Fonseca mentioned that currently only four per cent of venture capital funding is going to female-led initiatives. Her organization is working to create a network of female game-changers around the world so it is easier to identify those innovators who can become role models for the next generation of women technology entrepreneurs.
As Canadian technology entrepreneurs look toward future, long-term success, Tom Jenkins, chairman of OpenText Corporation, had some advice -- understand that there is value keeping your cards close to your vest.
"It is actually smart staying under the radar a while…the longer you wait, the more value you get," said Jenkins.
More than 30 speakers presented at the University of Waterloo 2014 Innovation Summit. A video archive of speakers and panel sessions is available online.
About the University of Waterloo
In just half a century, the University of Waterloo, located at the heart of Canada's technology hub, has become one of Canada's leading comprehensive universities with 35,000 full- and part-time students in undergraduate and graduate programs. Waterloo, as home to the world's largest post-secondary co-operative education program, embraces its connections to the world and encourages enterprising partnerships in learning, research and discovery. In the next decade, the university is committed to building a better future for Canada and the world by championing innovation and collaboration to create solutions relevant to the needs of today and tomorrow. For more information about Waterloo, please visit www.uwaterloo.ca.
Attention broadcasters: Waterloo has facilities to provide broadcast quality audio and video feeds with a double-ender studio. Please contact us to book.
Image Available: http://www.marketwire.com/library/MwGo/2014/4/15/11G014585/Images/wis-pc-wal-van-lierop2-535283054230.jpg
Image Available: http://www.marketwire.com/library/MwGo/2014/4/15/11G014585/Images/10246317_10152310293695758_7014496107022898676_n-329760231624.jpg
Embedded Video Available: http://www.youtube.com/watch?v=d9O_-DyO5Aw&feature=share&list=PLawkBQ15NDEneGxdyABdb6Rs9YthH8UUc&index=3
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust...
May. 29, 2015 06:15 PM EDT Reads: 981
2015 predictions circa 1970: houses anticipate our needs and adapt, city infrastructure is citizen and situation aware, office buildings identify and preprocess you. Today smart buildings have no such collective conscience, no shared set of fundamental services to identify, predict and synchronize around us. LiveSpace and M2Mi are changing that. LiveSpace Smart Environment devices deliver over the M2Mi IoT Platform real time presence, awareness and intent analytics as a service to local connecte...
May. 29, 2015 04:27 PM EDT Reads: 345
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
May. 29, 2015 04:00 PM EDT Reads: 5,306
Amazon and Google have built software-defined data centers (SDDCs) that deliver massively scalable services with great efficiency. Yet, building SDDCs has proven to be a near impossibility for companies without hyper-scale resources. In his session at 15th Cloud Expo, David Cauthron, CTO and Founder of NIMBOXX, highlighted how a mid-sized manufacturer of global industrial equipment bridged the gap from virtualization to software-defined services, streamlining operations and costs while connect...
May. 29, 2015 04:00 PM EDT Reads: 3,328
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
May. 29, 2015 03:45 PM EDT Reads: 824
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
May. 29, 2015 03:45 PM EDT Reads: 4,798
paradigm shifts in networking, to cloud and licensure, and all the Internet of Things in between. In 2014 automation was the name of the game. In his session at DevOps Summit, Matthew Joyce, a Sales Engineer at Big Switch, will discuss why in 2015 it’s complexity reduction. Matthew Joyce, a sales engineer at Big Switch, is helping push networking into the 21st century. He is also a hacker at NYC Resistor. Previously he worked at NASA Ames Research Center with the Nebula Project (where OpenSta...
May. 29, 2015 03:21 PM EDT Reads: 419
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
May. 29, 2015 03:00 PM EDT Reads: 4,924
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
May. 29, 2015 03:00 PM EDT Reads: 1,492
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In this session, James Kirkland, Red Hat's Chief Architect for the ...
May. 29, 2015 02:33 PM EDT Reads: 409
While there are hundreds of public and private cloud hosting providers to choose from, not all clouds are created equal. If you’re seeking to host enterprise-level mission-critical applications, where Cloud Security is a primary concern, WHOA.com is setting new standards for cloud hosting, and has established itself as a major contender in the marketplace. We are constantly seeking ways to innovate and leverage state-of-the-art technologies. In his session at 16th Cloud Expo, Mike Rivera, Seni...
May. 29, 2015 02:30 PM EDT Reads: 940
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
May. 29, 2015 02:00 PM EDT Reads: 6,438
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge. IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are bein...
May. 29, 2015 02:00 PM EDT Reads: 816
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
May. 29, 2015 02:00 PM EDT Reads: 1,724
EMC Corporation on Tuesday announced it has entered into a definitive agreement to acquire privately held Virtustream. When the transaction closes, Virtustream will form EMC’s new managed cloud services business. The acquisition represents a transformational element of EMC’s strategy to help customers move all applications to cloud-based IT environments. With the addition of Virtustream, EMC completes the industry’s most comprehensive hybrid cloud portfolio to support all applications, all workl...
May. 29, 2015 02:00 PM EDT Reads: 921