ZURICH AND SAN FRANCISCO (PRWEB) MARCH 27, 2019

Momenta Ventures, a subsidiary of Momenta Partners, a global advisory, talent and venture firm focused on Connected Industry, today announces the launch of the 2019 LoRaWAN Startup Challenge, a contest and event to recognize the most-innovative early stage startups leveraging Low-Power, Wide-Area Networks (LPWAN), specifically LoRaWAN.

The winner will receive $10,000 – sponsored cash prize. To enter, please submit a pitch deck via the Momenta Ventures website by May 1, 2019, in order to be considered for participation.

The LoRaWAN Startup Challenge is open for entry now. The final event and winner annoucement will be held June 13, 2019 as part of the LoRa Alliance™ LoRaWAN Live! day in Berlin. 

• Top 20 semi-finalists selected by May 7
• Top 5 finalists selected by May 20
• Finalists will pitch at the finals on June 13 as part of the LoRa Alliance LoRaWAN Live! day in Berlin

All finalists will receive a one-year Adopter membership to the LoRa Alliance, complementary booth space at the event, and will be featured in Momenta and LoRa Alliance press.

The event will provide invaluable opportunities for global high-tech startups to participate in the venture capital fundraising process by receiving world-class mentoring and expert feedback of business plans and models.

This contest is backed by Momenta’s LPWAN Ecosystem Fund, a venture capital fund backed by strategic stakeholders in the LPWAN ecosystem. The fund is focused on investments around LoRaWAN, the de-facto standard for low power connectivity, complementing rapid innovations in licensed and 5G communications.

LPWAN GROWTH

IoT Analytics’ 2018 LPWAN report forecasts a 109% compound annual growth rate (CAGR) for LPWAN connections from 2017-2023, with annual connectivity spending surpassing US$4.7 Billion by 2023. Juniper Research predicts there will be over three billion LPWAN connected devices by 2021.

Momenta Ventures is a recognized leader in early-stage investments in Connected Industry. Led by partners with deep domain expertise in energy, manufacturing, smart spaces and transportation / logistics, Momenta Ventures benefits from Momenta Partner’s advisory and talent practices.

Momenta Partners’ Managing Director and Founder, Ken Forster states: “We are pleased to launch this contest and event, recognizing innovative young companies building solutions around LoRaWAN.”

According to Donna Moore, CEO and Chair of the LoRa Alliance: “The LoRaWAN ecosystem, deployments and network operator growth continues to explode year over year. It is fantastic to see a LoRaWAN contest supporting startups leveraging LoRaWAN connectivity. This highlights the market support for backing LoRaWAN and that it is confident in the scale and ROI LoRaWAN, delivers.”