Pledges $35 Million to Build Ecosystem, Opens San Francisco Office, Announces "Dream It, Build It" Competition
SAN FRANCISCO, CA--(Marketwired - Dec 10, 2015) - IngDan, a one-stop Internet of Things (IoT) hardware innovation platform, launches in the United States with offices in San Francisco and a vision to connect entrepreneurs in North America to the right suppliers at the right time, giving them the advantages previously enjoyed only by well-funded companies. IngDan is a subsidiary of Cogobuy Group, a Hong-Kong listed company (400:HK), that operates China's largest manufacturing supply chain platform. IngDan plans to invest $35 million to grow the IoT ecosystem and its footprint in the US.
Analyst firm, Gartner, forecasts that 6.4 billion connected things will be in use worldwide in 2016, and will reach nearly 21 billion by 2020. (Source: Gartner, Nov 2015) IngDan will help accelerate American entrepreneurial aspirations by supporting IoT innovations through a slew of initiatives such as:
- Fostering entrepreneurship by partnering with leading research institutions and universities such as Stanford and MIT to develop IoT research.
- Fast-tracking the ability to develop new IoT products by connecting entrepreneurs to more than 6,000 vetted suppliers at every stage of the product cycle.
- Building an interactive experience center in Silicon Valley to showcase IoT hardware innovations.
- Expanding its engineering and management team in the Bay Area to serve its growing number of US clients.
- Hosting a series of "Dream It, Build It" IoT IngDan Challenge competitions, starting with the first one that kicks off on December 10.
"We're clearly living in a new IoT era, where the number of connected items have reached an unprecedented stratosphere. Yet, entrepreneurs in the US -- who are drivers of this change -- are subjected to exorbitant cost models of production," said Jeffrey Kang, Founder and CEO of IngDan.
"IngDan presents a pivotal change from typical IoT supply chain models. Previously, it was near-impossible for entrepreneurs to leverage the same economies of scale, IP protection and quality controls available only to well-funded companies. IngDan democratizes IoT innovation by lowering the barriers to entry to produce IoT devices at scale, empowering anyone with the dream and drive to build and ship smart devices with ease," Kang added.
A few key advantages of the IngDan platform include:
- Democratizes IoT Supply Chain industry: IngDan works with all entrepreneurs and projects of all sizes, even in niche industries.
- Simplification: IngDan's platforms streamlines access to more than 6,000 suppliers and partners, keeping design and production costs down.
- Access to Chinese consumers: In China, IngDan is synonymous with the IoT platform and also has more than 6 million followers who test drive, vote and give feedback on products that are in development. IngDan will enable entrepreneurs to access this fan base, accelerating brand recognition and product adoption in one of the world's largest, yet most complex markets.
- Access to suppliers at any stage of the development cycle: Unlike the competition, IngDan provides greater flexibility for entrepreneurs to utilize IngDan's suppliers as much or as little as they need.
About the IngDan "Dream it, Build it " Competition
To celebrate its US launch, IngDan has teamed with Hackster.io to promote its first 60-day IngDan IoT challenge for entrepreneurs to submit ideas to develop new hardware IoT products. The competition runs from December 10, 2015 to February 10, 2016, with winners announced on February 19, 2016. The top three winners receive free design, evaluation and prototyping services worth $6,000, $4,000 and $2,000 respectively. Find out more or apply at www.hackster.io/challenges/Start-Your-Hardware-Startup. The first MeetUp will be held at TechShop SF from 8PM to 10PM on December 17.
Founded in 2013, IngDan is the one-stop IoT hardware innovation platform and subsidiary of Cogobuy Group, a Hong Kong-listed company operating China's largest supplier platform. It empowers entrepreneurs to outsource to the right suppliers at the right time, giving them the same advantage and potential success previously enjoyed only by well-funded companies. Leveraging over 6,000 suppliers, IngDan enables entrepreneurs to capitalize world-class hardware manufacturers at an affordable cost. IngDan's 6 million followers also provides entrepreneurs an unprecedented critical mass and platform for consumer testing and feedback, accelerating brand recognition and product adoption among Chinese consumers. IngDan has a burgeoning US office in San Francisco and a growing number of US IoT clients. IngDan's global successes include more than 9,000 projects, including the award-winning Sleepace intelligent sleeping monitor, the Cookee smart bike, and an innovative smart precision cooker. en.ingdan.com
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