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Telematics provider Geotab announced the launch of Torque Labs, which is intended to accelerate the internet of things industry by providing funds and access to other resources for startups developing innovative technologies for transportation and smart cities.
The total funds available through Torque Labs was not disclosed.
“Torque Labs has three companies enrolled and is currently accepting applications,” said Glenn Jamieson, vice president 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 to asset tracking and smart city planning via artificial intelligence and deep learning, according to the Toronto-based company.
Torque Labs will provide opportunity for startup sectors: big data and analytics, fleet management, supply chain, autonomous vehicle, smart cities, asset tracking, IoT/hardware, electric vehicles and vehicle sharing.
Companies that participate in Geotab’s Torque Labs accelerator program will also benefit from mentorship and coaching from field experts as well as gain assistance for proof-of-concept development, access to exclusive events and potential commercialization opportunities.
Upon completion of the program, the companies will have an opportunity to gain 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. — Transport Topics
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