The first Internet item is considered to be a toaster, which was connected to the Internet by John Romkey, one of the creators of the TCP/IP protocol, in 1990.
The toaster could be switched on and off remotely. The term “Internet of Things” itself was coined by British engineer Kevin Ashton in 1999. Ashton was part of a team that succeeded in inventing a way to connect objects to the Internet with the help of RFID technology. An RFID tag is an identification tag that allows objects to be identified by radio signals; certain information can be written on it and later be read as a device.
The year 2012 saw significant changes in sensors, leading to accelerated market readiness of the IoT, and for many companies, this meant that the digital transformation was gaining momentum. Technological advancements made possible the emergence of MEMs – microelectromechanical systems (a miniaturised device made by micromachining both mechanical and electrical components). This made sensors smaller, able operate at lower power and added more features that it was possible to attach them to clothes, for example.
Over time, more and more “things” began to acquire such functions, and today it is impossible without Internet “things”.
The path to innovation is laden with unique and often substantial cost drivers that set these ventures apart from their more conventional counterparts. To handle these costs effectively, you need to understand them clearly and plan your finances and resources carefully.
At a later stage we will provide a series of postings on how to build and maintain your company’s dashboard. Most importantly, we cover how to use it. The most eloquent dashboard does no good if it is not properly used.
As a Management Team, you need to make the dashboard the central point of engagement.
If your startup is getting acquisition interest, congratulations! But should you sell to a private equity firm or a strategic buyer? Private equity (PE) firms and strategic buyers have fundamentally different financial approaches to M&A. This is because of their contrasting goals, investment strategies, and operational priorities.