Region Forms IoT Collaborative
Case Western Reserve University and Cleveland State University were recently awarded a $1.75 million grant from the Cleveland Foundation to launch an IoT Collaborative. Focused on the “internet of things,” the Collaborative will help attract top academic talent and establish research labs at both institutions.
IoT refers to the vast interconnected network of devices – which are expected to number more than 30 billion by 2020 (excluding smartphones, tablets, and computers). It is predicted that over the next five years, the economic impact of IoT-related projects could be upwards of $6 trillion worldwide.
Building on Northeast Ohio’s industrial heritage, IoT has the potential to transform our region. In a news release, Cleveland Foundation President and CEO Ronn Richard stated: “This work has the potential to be economically transformative if we are able to take a global leadership position on this critical aspect of the IoT revolution while leveraging Cleveland’s history as an industrial and manufacturing powerhouse.”