At the very beginning, it is worthwhile to present and distinguish two concepts that start-uppers / entrepreneurs may encounter. These are IoT (Internet of Things) and IIoT (Industrial Internet of Things).

IIoT is a subcategory of the Internet of Things, which is strictly related to the use of IoT in industrial configurations[1]. This means that we can find it in different „smart factories”. There he acts as a technology that allows companies to collect and deliver information throughout the company. An example of this is the placement of such sensors to monitor the consumption of electricity / water and other important resources in the machine park and optimise their use. It also allows for a detailed check of production efficiency, which is necessary when planning production. It is worth knowing that IIoT is very important in manufacturing companies and allow them to reduce costs and also improve their work.

However, as a start-up owner (future owner), you are probably looking for technological solutions that can support your business and give you a competitive edge.

This is the solutions offered by IoT. But the main question is probably how to implement them?

Well, the matter may turn out to be quite complicated. It is worth starting by rethinking the decision. First of all, ask yourself the question “What do I want to achieve with the implementation of IoT?” You must have a clear plan if you want to implement this technology, know what you want to achieve by implementing it and know how this technology will support your processes (e.g. management, design or logistics). Then you have three ways to use it:

1. Build

It is a solution in which you decide to prepare everything by yourself. In order to do this you will need a lot of IT knowledge, in the field of embedded devices (such as Raspberry Pi , HMI), but also electronic knowledge to be able to connect devices/modules. This option has several advantages. First of all, by designing the solution yourself you are able to adapt it completely to your company, it will also be cheaper (you don’t have to hire external companies). However, in practice, not many SMEs and start-ups are able to carry out such an operation. First of all, such a process requires a lot of IT knowledge and commitment, and it is also a time-consuming option.

2. Buy

Another option is to buy a ready-made solution. This solution is usually faster to implement. What is more, it does not require from us such a high level of knowledge as in the case of “Build”. However, it is a costly solution and buying a ready-made IoT solution may not be fully compatible with your expectations.

3. Partner

The last option focuses on partnership, i.e. using the services of a provider of personalized IoT implementations. This will allow you to take advantage of the implementation service of a solution that will be tailored to your start-up but you have to reckon with the fact that it will be probably the most expensive option[2].

If you want to implement the IoT, you also need to take into account its components. Basically, the IoT architecture can be divided into 3 parts[3] (more about them in the previous chapters):

Source: Designed by vectorpouch / Freepik	Objects that collect and transmit data (e.g. humidity sensor or cameras)
Source: Designed by macrovector / Freepik	Receiver of transmitted data. Information systems that receive information from devices, analyse it and make decisions (e.g. computers, smartphones, cloud computing)
Source: Designed by macrovector / Freepik	Infrastructure that allows data to be transferred between objects (for example NFC or WiFi)

Remember that IoT is not the magic solution to your problems. However, if used correctly and adapted to your business profile, it can support the position of your business and distinguish it from the competition.

There is a whole range of start-ups that have managed to achieve success by implementing IoT solutions. There are also plenty of IoT start-ups that offer IoT solutions, usually targeting different niches and providing modern solutions. It is especially these that achieve incredible success. They provide new technologies and applications supporting cheaper, better and generally more sustainable and ecological solutions. This is why their popularity is so high. Such start-ups include, for example:

WINT – Water Intelligence

Source: https://www.startuphub.ai/startups/wintwi/

WINT is a company offering water management solutions that use IoT, Artificial Intelligence (AI), cloud computing, data analytics and pattern matching. The solutions offered by this start-up allow for the detection of leaks in real time thanks to IoT sensors and thanks to AI, for example, it allows for the automatic closure of the water circuit preventing a leak. It allows to detect system errors and provide engineers with information (using the cloud). What is more, these solutions allow monitoring and, thanks to their algorithms, analysing water consumption and finding anomalies, allowing for more optimal use of water.

VDOO

Source: https://www.businesswire.com/news/home/20190424005444/en/VDOO-Raises-32M-in-Series-B-Financing-to-Revolutionize-Security-for-Embedded-Devices-and-IoT

This start-up has developed a platform to help IoT makers ensure the safety of their devices (before and after they have been launched). The platform has automated solutions that help to add appropriate security at low cost. The aim of this start-up is to reduce cybercrime and provide security for users.

Both examples of the IoT start-ups mentioned show how these solutions can support the quality of people’ lives. Looking for IoT applications and providing the right services can be a great idea for such a dynamic sector. Remember that you can use IoT to optimise your internal processes and improve your product, but you can also build your start-up based on IoT and its capabilities.

If you know that your IoT business will be a great added value or is very innovative, you can try to finance it with crowdfunding collections through, for example, platforms such as Kickstarter and Indiegogo.

Of course you can still use the more classic ways of raising funds (family loans or bank loans). But crowdfunding platforms are a particularly interesting proposition for small start-ups and SMEs that are highly innovative to raise money.

Remember to do more in-depth research when you think about using IoT technology. Look for more information and try to make a list of what you expect from this technology and how you would like to use it in your company.

A good plan is essential! Don’t throw yourself into a high-tech solution if you don’t know what you actually expect from it.

Remember about the advantages and disadvantages of such a solution and bear them in mind when making business decisions.

Take a look at the other modules created in this project and be ready for Industry 4.0.

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[1] COPADATA (n.d.). Co to jest IoT oraz IIoT. Retrieved from: https://www.copadata.com/pl/produkty/platform-editorial-content/co-to-jest-iot-oraz-iiot/

[2] Zmorzyński, K. (Jan 15, 2018). Jak podejść do wdrożenia IoT w swojej firmie? Retrieved from:  https://sme24.pl/posts/2018/01/15/jak-podejsc-do-iot/

[3] Malucha, M. (2018). Internet rzeczy – kontekst technologiczny i obszary zastosowań. Studia

i Prace WNEIZ US, 54/2, 51–69. DOI: 10.18276/sip.2018.54/2-04.