Dan Armbrust of Silicon Catalyst, the world's only startup incubator focused exclusively on semiconductor solutions, delivers keynote at 10th Anniversary SSIA Summit in Singapore.
Realizing the next growth wave for semiconductors - A new approach to enable innovative start ups. SSIA Abstract
The presentation described the key financial and innovation trends of the semiconductor industry, whose advances underpin a broad set of industries that depend on ever more useful and cost-effective electronics. For context, comparisons with the structure and evolution of related industries were made. Progress in establishing the incubator, screening startups and executing Silicon Catalyst's business model with support from across the semiconductor industry's stakeholders using lean innovation principles were described in detail. Opportunities for public and private partnerships and global expansion to other high technology regions using this incubation model to accelerate commercialization was covered.
Some interesting revelations at the meeting included the following:
• McKinsey estimates that IoT manufacturing has the potential to generate savings of up to $3.7 trillion by year 2025.
• Gartner predicts 33 billion to be the number of connected devices by 2020.
• GE sees that the "industrial internet" has the potential to add $10-$15 trillion to global GDP over the next twenty years.
• In 2016, startups were responsible for 50% of IoT innovation solutions.
• According to Gartner, this will result in a growth of 30% for the semiconductor industry through 2020.