Geotab launches new IoT startup innovation accelerator

Toronto-based IoT company Geotab has announced the official launch of its smart cities and transportation accelerator program, Torque Labs.

“We want to empower individuals, startups, and companies to create future innovations.”

“We are excited to announce the launch of Torque Labs, which showcases Geotab’s commitment to advancing technology and fostering innovation,” said Neil Cawse, CEO at Geotab. “As technology around us is developing so quickly, it is important for us to stay on the cutting edge of the industry by continuously innovating and staying proactive in the marketplace.

“We want to empower individuals, startups, and companies to create future innovations that will aid in the continuous technological transformation of our cities and transportation systems,” he added.

Torque Labs is designed to provide early-stage companies with funding and access to Geotab’s resources, with the goal of broadening Geotab’s capacity to develop new technologies. Companies that participate in Geotab’s Torque Labs accelerator program will also receive mentorship and coaching from field experts as well as gain assistance for proof-of-concept development, access to events, and potential commercialization opportunities.

Torque Labs will provide opportunity for startups in big data and analytics, fleet management, supply chain, autonomous vehicle, smart cities, asset management, IoT and hardware, electric vehicles, vehicle sharing.

“Torque Labs has three companies enrolled and is currently accepting applications,” said Glenn Jamieson, the VP of corporate development at Geotab. “In addition to the initial funding, the participating teams will have access to the robust Geotab platform including the aggregate data sets derived from the more than 1.8 million Geotab connected vehicles around the world.”

The current Torque Labs participants have focuses ranging from data-driven driver training programs through to asset tracking and smart city planning via artificial intelligence and deep learning. Upon completion of the program, the companies will have an opportunity to present their progress to members of the Geotab ecosystem with the goal of receiving additional support and resources post-program, such as a formal investment or partnership on the Geotab Marketplace, a portfolio of mobile apps, software add-ins, and hardware add-ons that enable Geotab customers to better manage their fleets.

Image courtesy Helen Kontozopoulos