The 5G Open Innovation Lab (5G OI Lab), a global ecosystem of developers, enterprises, academia and government institutions, has announced the selection of its second cohort of early- and later-stage start-ups. The group represents diverse markets and aimed at improving 5G network performance, reducing latency and enabling application innovation in both hardware and software platforms in the cloud and at the edge.
The Lab launched its inaugural program on May 4, 2020 with the strategic and financial support of founding partners Intel, NASA and T-Mobile. Founding partners provide engineering, technology, mentorship and industry resources to founders and their companies to help them develop, test and bring to market new use cases that unleash the potential of 5G networks. The program has been adapted to a virtual format in response to the COVID-19 pandemic.
According to analyst firm IHS Markit, 5G is expected to generate $13.2 trillion of new market value by 2036 funded largely by enterprise IT spending.
“It’s clear that both enterprise and carrier networks are opening up new opportunities for innovation harnessing the connectivity of 5G with the proximity of edge computing,” says Jim Brisimitzis, general partner of the 5G Open Innovation Lab. “As an open ecosystem program, we focus on helping both early- and later-stage companies remove technical friction, connect founders with industry mentors and provide unparalleled market access backed by the generous support of our partners. We’re running a marathon together. Once a member of the community, always a member of the community.”
“We are encouraged by the innovation we are seeing from the first cohort resulting from the collaboration between the Lab and members, and we look forward to what this new group of start-ups will bring,” comments Caroline Chan, vice president, Data Platforms Group and general manager, Network Business Incubation Division at Intel. “Fostering a strong developer ecosystem helps further accelerate adoption of 5G solutions by both enterprises and the telecom industry, and the Lab is an effective way to make this a reality.”
The Lab has selected 16 companies as members of the second cohort that will participate in the 12-week program. The Lab does not take an equity position in the start-up companies, rather, companies collaborate with 5G technology experts and business advisors through CEO and CTO roundtables, private working sessions, virtual networking and social events, and opportunities to meet with the Lab’s extensive partner network of venture capital firms. The newest members selected to join the 5G ecosystem and Lab include Bluebox Labs, FreedomFi, GenXComm, Innov8.ag, Kubermatic Gmbh, Latent AI, Mangata Networks, MATRIX Labs, Megh Computing, mimik Technology, Inc., MixComm, Moeco IoT, Nodle, PerVices, QuayChain, and Taubyte.
The 5G Open Innovation Lab is also a founding member of Washington’s newest Innovation Partnership Zone (IPZ), a statewide initiative, sponsored by the City of Bellevue and administered by the Washington State Department of Commerce. The IPZ is designed to stimulate regional economic growth by providing access to intellectual capital, and to accelerate the development of new technologies, marketable products, company formation, and job creation. This unique public-private partnership includes members Pacific Northwest National Laboratories, Snohomish County, T-Mobile, Washington State University (WSU), and the University of Washington.
“We are not a traditional incubator or accelerator,” explains Brisimitzis. “Equity isn’t the program’s end goal. Working with standout founders solving big enterprise problems is what we, and our partners, get excited about. We are accomplishing our long-term goals by building a global community. Our unique approach to fostering innovation will enable us drive real-world applications and solutions that are economically viable, marketable, and fundable.”
5G | edge PaaS | Kubermatic | T-Mobile | Taubyte | wireless