Internet of Things
Minnesota has remarkable strength in the fast-emerging area of Internet of Things (IoT), which combines multiple technologies and cuts across industry sectors.
We’re ideally suited for this role because of our long tradition as an electronics and computer leader. Early computer giants (such as Control Data Corp.) got their start here. This region became known as Medical Alley for its pioneering role in medical device technology. And it also been a leader in industrial data collection and control with firms such as Honeywell, Rosemount and Eaton.
An Innovative Patent Powerhouse
Minnesota’s creative and innovative streak is reflected in our patent rankings. We’re:
- 1st in the number of medical device patents per capita
- 1st worldwide in the number of patents in medical device light, thermal and electrical applications between 2011 and 2015
- 8th nationwide in electrical computers, digital processing systems and related patents (based on a grouping of more than 20 technology classes) between 1996 and 2016
(Source: U.S. Patent and Trademark Office, most recent available data as of May 2018)
We rank in the top 10 for technology and innovation:
- 5th in Technology and Innovation (CNBC, 2017)
- 7th in Technology and Sciences Business Strength (Milken Institute 2016 State Technology and Science Index)
- 9th Most Innovative State (Bloomberg, 2016)
Our Fast-Growing IoT Community
Minnesota’s IoT community is connected and growing quickly. For instance, IoTFuse, a non-profit based in Minneapolis, organizes regular meetups, hackathons and an annual conference. Its Meetup.com group reaches over 1,800 members and meets monthly to talk about a wide range of IoT topics. The annual IoTFuse Conference attracts over 1,000 attendees and over 60 speakers.
Minnesota also has an active analytics cluster. MinneAnalytics, a non-profit that serves Minnesota’s data science and analytics community, is the nation’s largest community-driven data analytics group.
Tech entrepreneurs can get feedback on their innovations through competitions such as MN Cup – the largest statewide innovation competition in the country – and the Tekne Awards.
There are dozens of conferences, innovation accelerators, meetups, hackathons and startup support groups.
Local entrepreneur associations, angel investor groups and accelerators are devoted to helping innovators bring their ideas to fruition.
Large corporations – such as Target, Land O’Lakes and Honeywell – are partnering with innovative startups. Out-of-state and foreign direct investment also play an important role.
The state of Minnesota offers a Research and Development Tax Credit and other incentives and assistance to help entrepreneurs and startups.
to find out more about IoT in Minnesota.