Chicago Startup Space 1871 Grows Again With Bosch Co-Working Space
Bosch, the international industrial giant with over 400,000 employees, is taking another investment in startups and iOT. The company, which has been around for 130 years, is doubling down on the internet of things. Over five million devices are already connected to the Bosch iOT cloud today, according to chicagobusiness.com. The company sees a time on the horizon where just about every electronic device in the world will be connected in some form or fashion. The idea is that “all sorts of devices, from appliances, to cars, produce data that can be uploaded, monitored and analyzed”, chicagobusiness.com says.
Bosch has already had their eye on a handful of startups in the iOT space that are based at or participate in programs at 1871. 1871 is celebrating it’s fifth year as the technology and innovation hub in Chicago. Located in the old Merchandise mart, Techstars Chicago and other incubator and accelerator programs are based there or have been based there since it’s launch.
Bosch has taken up residence in 19,000 square feet on the fifth floor of the building. They also plan on partnering with local universities and other startup resources to spur the activity in their new space that they are calling the Bosch Connectory.
“It will focus on co-creation with startup, university and corporate partners,” Dennis Boecker, head of global IT innovation for Bosch told Crain’s chicagobusiness.com , who is here, where it employs nearly 2,000 people in the city and suburbs. “There will be corporate projects, educational experiences and an open environment. We have several startups at 1871 that we’re in discussion with already.”
Startups relocating to the Connectory space will be able to take advantage of Bosch’s expertise. They will also benefit from access to IoT equipment, and prototyping ability with large 3D printers.
The Connectory is part of a Bosch initiative called 3-S, sensors, software and services.
“Our target is, by 2020, that all our electronic products will be web-enabled and connected.” Boecker said.