Philips collaborates with Plug and Play accelerator in heart of Silicon Valley to partner with top IoT innovators

Company Website: http://www.usa.philips.com/
AMSTERDAM -- (Business Wire)

Royal Philips (NYSE: PHG, AEX: PHIA), the global leader in lighting, aims to collaborate with the world’s top technology start-ups, pushing the boundaries of connected lighting for the Internet of Things (IoT). The company has teamed up with Silicon Valley’s Plug and Play Tech Center, one of the world’s largest accelerators, to mentor and partner with some of the newest, most exciting IoT innovators.

Plug and Play introduces start-ups to corporations and investors to accelerate their commercial development. It will work with Philips to filter hundreds of IoT-orientated start-ups that match Philips’ most relevant technology needs. Of particular interest are innovators in sensor data, analytics and connected lighting for buildings and smart cities.

“Silicon Valley is pulsing with many promising Internet of Things start-ups. Our partnership with Plug and Play represents our most recent commitment to Open Innovation, a highly collaborative ‘outside-in’ approach that helps us gain new insights,” said Olivia Qiu, Chief Innovation Officer at Philips Lighting. “As an anchor partner, Philips will steer the technology focus toward connected lighting and base experts on-site in Sunnyvale, California, where they will identify and nurture talent, building our capabilities in this rapidly growing market.”

The connectivity of LED lighting to IP networks, sensors and software control systems is transforming the lighting industry. Lighting is at the heart of the Internet of Things due to connectivity and its presence everywhere, in homes, cities and professional environments.

Connected lighting enhances energy savings because it can be controlled to provide the right light, in the right place at the right time. Furthermore, data generated by (and aggregated from) embedded sensors can help deliver new business outcomes, such as:

• Data from occupancy sensors providing new insights into building utilization to help businesses optimize their real estate expenses.
• Supermarket lighting fixtures transmitting their location to smartphones so that shoppers can use an app to navigate to items in a store and access location-based offers.

About Plug & Play

Plug and Play Tech Center is a global investor and technology accelerator that specializes in growing tech startups. Headquartered in Sunnyvale California, Plug and Play’s network includes over 300 tech startups, 180 investors, and a community of leading Universities and corporate partners. http://plugandplayaccelerator.com/iot

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people's lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2014 sales of EUR 21.4 billion and employs approximately 108,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150723005226/en/

Contacts:

Philips Lighting
Talley Summerlin, 212-805-8065
talley.summerlin@emanatepr.com

Source: Royal Philips