How Startups Are Using IoT technology to Execute Their Social Mission
Where it used to be that businesses and industry were some of the worst offenders when it came to pollution and overuse of resources, today many of these same industries are leading the way in what looks to be much more environmentally sound practices. Some have taken the goal of leaving a smaller environmental footprint so seriously that they have made it a social mission. And it’s not just established large companies; even startups that are embracing the practices.
Here we’ll take a look at how startups are using IoT technology to make their social mission a reality and reach all their goals. It’s become a very interesting and much-talked-about approach that is gaining traction across the globe.
It’s All About Instant and Constant Access
When looking into IoT, which stands for Internet of Things, in its simplest form it’s about providing constant insight, data, and status reports. And why is this important? Because IoT technology can be used in so many different ways it’s spanning across all industries and sectors, giving businesses more control and insight than ever before.
IoT devices, sensors, and applications can help a company to identify potential issues before they become huge, it allows companies to tweak systems and processes to be more efficient, and it helps to cut down errors and lost time. When a company can be more efficient, create less waste and operate to its fullest potential, suddenly its draw on the environment becomes much smaller.
Some of the most common areas that you’ll find this technology in startups are health care, industrial, manufacturing, and automotive. It makes sense since those industries tend to rely heavily on high-tech tools and systems.
The Door to Smart Environment Monitoring Systems Has Been Opened
Any startup that works in the environmental industry will also be able to take advantage of smart environment monitoring systems. The use of sensors and IoT has become mainstream since they provide accurate, timely, and highly important information. Businesses can monitor key metrics in real-time, and these could be so important that they affect the environment, animal life, and even public health. A startup that needs to track water and/or air quality is the perfect example.
As of 2020, there were more than 26 billion IoT devices worldwide, but that number is expected to almost triple to 75 billion by the year 2025. Again, businesses are acting as leaders in this sense and promoting the kind of technology that people can even use at home in their own lives.
How does this IoT technology fit with a social mission? Companies understand that competition is steep nowadays, so you not only have to offer high-quality products/services at a reasonable price, but they also need to provide customers with a unique reason to choose their company over others. Cutting prices is no longer enough; nor is it feasible as a startup especially in this climate of high inflation, rising costs, and tight supply chains.
Startups have realised they need to be creative and by promoting social company values that focus on environmental sustainability, it can appeal to large swaths of potential customers. Customers love a company that cares about the community, and what better way to show they care than by making it their social mission?
Versatility Is One of the Biggest Strengths of IoT Tech
In looking at IoT technology, versatility has to be one of its biggest strengths. When you have IoT solutions that work for such varied industries such as waste management, smart buildings, construction, agriculture, logistics, and transportation – then startups would be foolish not to look for a way to work it into their messaging and the company’s systems. Yes, it makes the company look socially responsible, but these solutions can often result in cost savings for the company.
Startups are always highly sensitive to the budget, as everything needs to be done at the best price possible. So when they can employ a solution that cuts down on waste, human error, time, and people-power, then it makes complete sense to embrace it.
Regulatory Maintenance Can Be Streamlined
And in keeping with a social mission, startups need to be sure they are compliant with current regulations and policies. It’s not just about sticking to the rules and following guidelines, there is also the social aspect. It shows the company cares about the town/city, its residents, and its customers.
Those same sensors may be displaying highly sensitive information that ensures regulations are adhered to at all times, and if there is a danger of that not being the case – an alarm or alert will be sent out.
Not All in the Same Location – No Worries
The pandemic made many businesses view remote workforces in a new light, showing just how productive and efficient they can be. But because staff may not be in the same physical location at all times, IoT technology can again be useful. It can be accessed from any device with an internet signal. There’s no need to be in a location together or with the equipment/tools being monitored.
Turning What Startups Know and Understand Upside Down
The simple fact is that IoT technology is taking all the traditional knowledge and practices and turning it upside down, forcing startups to re-examine how they go about simple and more complex steps and processes. Making it their social mission gives them a chance to position the business positively in the community.