Product Health Wins Innovate UK’s ‘IoT Launchpad’ Competition

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Product Health Wins Innovate UK’s ‘IoT Launchpad’ Competition

Product Health is one of a small number of London and Cambridge based Internet of Things[1] (IoT) businesses to successfully complete the three-stage application process for grant funding and support from Innovate UK’s £1M ‘IoT Launchpad’ fund. The win means that Product Health will be supported in the continued development of battery data analytics and a ‘predictive battery health algorithm’, working with Oxford University. The output of this ground-breaking research work will be an algorithm that, applied to data from batteries, predicts the state of health of a battery. This predictive analytics builds on our existing work assessing the current state of health of a battery. Predictive intelligence on products ­– in this case batteries – means that manufacturers and distributors can act in advance of the battery failing or reaching the end of its life. It provides an opportunity to prevent misuse or act on a failing product before it is too late. Manufacturers and distributors can also use the data to anticipate when their customer might need a product upgrade or a part replaced, triggering sales opportunity and helping to inform product supply. The IoT Launchpad win also means that Product Health will benefit from access to expertise and business support from the programme’s private sector partners: Tech City UK, EE, John Lewis, Unilever, Bosch, Seedcamp, Red Gate, Cisco, Hive by British Gas, RPD and Fab Lab. We look forward to collaborating with these leading brands and organisations and hope to develop R&D relationships alongside the business support we receive.  

[1] The Internet of Things (IoT) describes automatic ‘smart’ communications between objects – rather than between people using computers and mobiles - through the internet. Market projections suggest the industry will comprise of 26bn devices by 2020, rising to a trillion by 2025. It is predicted to become a $500bn global technology market by 2019, supporting an even more extensive market for products and services. (Innovate UK and Tech City UK, 2014)

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