UK government innovation agency the Technology Strategy Board has pledged to invest £1.6m with the HyperCat consortium, in a bid to aid its work creating a common set of Internet of Things (IoT) standards.
The HyperCat consortium is a group of 40 companies that aims to develop and release a "universal specification for the IoT". Key members include big-name companies such as Intel, BT, ARM and KPMG. The consortium will be led by IoT business services firm Flexeye.
HyperCat is one of eight such projects funded by the UK's innovation agency, the Technology Strategy Board. The consortium's main goal is to create a solution that lets devices connecting to the internet interact and share data, irrespective of their location, manufacturer or format.
If achieved it would allow all manner of smart devices – ranging from medical and agricultural equipment, to lampposts, traffic lights and bins – to communicate with each other, making it easier for businesses and government departments to collect and analyse data passing through them.
Flexeye CEO Justin Anderson said he expects projects using the funding to bring "huge benefits" to the UK economy. "As new entrants to the IoT market strive to deliver revolutionary solutions at an extraordinary pace, HyperCat will ensure that these players can securely speak a common language," he said.
"The UK has an opportunity now, through HyperCat, to be central to the IoT revolution, levelling the playing field with the ubiquitous American giants and inspiring British industry to deliver £100bn of value by 2020. The government's investment of £1.6m will support the UK economy by creating new jobs and attracting foreign investment to our shores."
IoT is listed by numerous firms as the most revolutionary trend shaping the future of business. Ton Steenman, vice president of Intel's IoT Solutions Group, listed IoT as the most revolutionary IT shift in history during an interview with V3 in May.
For more on IoT, big data analytics and cloud computing, visit the Intel IT Center.
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