Irish tech start-up, VT Networks, will do the first demonstration of its Internet of Things Network in Galway on General Election Day February 26th. The event will take place in conjunction with Galway-Mayo Institute of Technology’s iHubs and Enterprise Ireland’s New Frontiers Programme.
VT Networks has developed the €10 million network with French firm SIGFOX and RTE’s communications networks and transmission operation company, 2RN. Founded by entrepreneurs Mark Bannon and Will Ferguson, VT Networks has had very successful fundraising rounds with some of Ireland’s technology investors. RTE’s 2RN distributes and transmits all RTE TV and radio services, as well as other national, local and regional broadcasting, mobile and broadband. It is widely considered to be Ireland’s most reliable and extensive network, offering huge opportunities to VT Networks.
Speaking in advance of the demonstration, Bannon, co-founder and CEO of VT Networks said the company was well positioned to allow Ireland to reap the benefits of the IoT revolution. “Irish businesses will need to align with new IoT technology. IoT ecosystems will lower operating costs, increase productivity, help companies expanding into new markets or developing new product offerings. Our IoT network will provide nationwide low-power and cost-effective connectivity revolutionising the way businesses and consumers interact with the world around them.”
By June 2016 VT Networks expect to have 95 per cent population and territory coverage of Ireland, which will enable objects, sensors and ‘things’ to be connected anywhere in the country.
IoT is expected to be the latest technological development to change the way consumers and businesses interact with their devices. It is predicted that by 2020 34 billion devices will be connected to the Internet and nearly $6 trillion will be spent on IoT solutions with an estimated $13 trillion return on investment. It is expected that businesses will be the top adopter of IoT solutions followed by governments and consumers.
To mark the demonstration of this dedicated IoT network to Ireland, VT is hosting an event in the Galway-Mayo Institute of Technology to outline future trends in IoT and how smaller companies can start capitalising on the adaption of IoT technologies. The day-long summit will examine and discuss the implications of a new IoT era for Irish businesses and how they may benefit from it. Speakers will include Bannon of VT Networks; Fergal Barry, GMIT President, Ronan Furlong, MD of DCU Alpha, Kevin Maher of Sigfox, Fergal Concannon, Advantech B+B SmartWorx; and Marc Flanagan, Head of Business Development, EMEA, Dell.
Attendees will see IoT demonstrations and Ireland’s IoT network in action, as well as case studies on how the disruptive technology is being used.
The event is free but registration is required at www.iotsummit.xyz