A great success for the European Innovation Hub – the etventure subsidiary is coordinating a new European Commission funding program. The goal of the “IoT European Platforms Initiative” (IoT-EPI) is to create common technology standards for the development of successful IoT products. The program will run for three years and will receive around 50 million euros of funding.

The “Internet of Things” denotes the networking of “things” via the Internet. Whether wearables such as fitness trackers that measure your pulse and count your steps, networked devices and applications in the areas of smart homes and connected cards, or the M2M (machine to machine) communication of Industry 4.0 – the Internet of Things is revolutionizing the economy and everyday life and it is one of the most important drivers of digital transformation.

The EU has also recognized how important this topic is and has launched the “IoT European Platforms Initiative” funding program. Seven European consortiums for research and innovation are taking part in the project, which is being coordinated by the European Innovation Hub. It is envisaged that the program will set the standards for the next generation of the Internet and develop platforms for innovative IoT solutions.

“The goal of the initiative is to strengthen Europe as a base for IoT and to develop forward-looking economic policies,” explains Laura Kohler, Managing Director of the European Innovation Hub. “These policies include supporting founders, transferring technology, and developing a pan-European IoT ecosystem.” For this project, the European Innovation Hub can draw on its experience in the areas of startup growth and corporate innovation. This experience, along with the European Innovation Hub’s own strong network within Europe, means that the EIH is the ideal coordinator for this project.

As an etventure subsidiary, the European Innovation Hub can also make use of expertise from within the company. With clients such as Klöckner & Co and Deutsche Bahn, etventure has already executed a range of projects in the area of IoT.

The funding program will be presented for the first time at the Mobile World Congress in Barcelona. On February 23, there will be an information session about the “IoT European Platforms Initiative” at the European Commission stand. A retrospective report about the congress will then be published here on the blog.