Smart building players are strengthening their open innovation capabilities through investments and partnerships with startups and the incubators and accelerators that support their development. Corporates are recognizing the need to increase their agility and speed in developing smart connected products and services by leveraging software, analytics and the Internet of Things (IoT) in order to maintain competitive advantage, to gain access to emerging or disruptive technologies and to accelerate digital transformation. Meanwhile, startups need access to key industry players to better understand the unique challenges and opportunities of the smart buildings sector. Over the past two years, major suppliers of building automation, fire and security systems (UTC, Schneider Electric, Johnson Controls and Siemens) have been sponsoring or launching incubator and accelerator programs for startup companies. Established players have also been working together with startup companies with a focus on flexible, early-stage, open-ended partnerships. These initatives are aimed at scouting and selecting disruptive ideas and increasing […]