Launch for Success: Arrow Electronics & RIC Centre to Lead Startup Businesses with IoT Strategic Focus February 27, 2017 RICCentre By Phyllis Mak, Communications Intern at RIC Cenre On February 9th, 2017, the RIC Centre announced its collaboration with Arrow Electronics at its “Growing Your Business: February Funding” Business Seminar. With RIC Centre’s aim towards a strategic focus on IoT startups in 2017, the collaboration with Arrow will certainly help create and introduce valuable programs to startup businesses. Trevor Bingham, Field Sales Manager at Arrow Electronics, spoke to us about Arrow’s future plans with the RIC Centre and what to expect from their ‘design-to-startup’ support for the startup community. “Arrow’s unique position as an end-to-end solution provider for technology companies allows us the ability to provide our customers with ‘a la carte’ service offerings and options, as well as holistic end-to-end solutions,” Trevor explains. “We offer our customer partners candid, real-world advice that helps them make timely and informed decisions, which speeds their time to market while lowering their risk.” Rather than using a ‘one-size-fits-all approach’, Arrow seeks to match its customers’ distinct requirements with the appropriate suite of tools and service offerings. Arrow assesses designs and builds solutions that are as unique as each of its customers’ requirements, and offers focused, invaluable startup advice for entrepreneurs as they prepare to launch their company and overcome challenges. “Many of these challenges are not identified up front, or the right expertise and advice are not necessarily sought,” Trevor reveals. “Some key advice: build a support network of experts. Organizations like the RIC and Arrow Electronics can help mitigate the risks and can often provide startups with critical access to subject matter experts and resources that can reduce these hurdles.” Trevor also advises business to build a comprehensive business plan that identifies the market, competition and challenges that can be shared to trusted advisors and partners. “Startups have great ideas and are the lifeblood of Canadian innovation. However, it is imperative that startups recognize the need to morph, adapt and evolve as they grow to avoid pitfalls and to meet the changing needs of their customers,” Trevor adds. Flexibility and the ability to pivot is also key, especially in the face of new and disruptive tech like IoT devices that will only continue to develop, evolve and improve as 2017 goes on. It’s important to understand their role in the future with all kinds of businesses. Together, Arrow and the RIC Centre hope to help existing businesses anticipate changes to their model and provide startup entrepreneurs with the chance to turn their innovative tech ideas into a marketable reality. “Any organization that isn’t considering IoT as part of their business model is missing out on a unique opportunity to both add value to their customers, and collect valuable data that can help them better understand what those customers want and need,” Trevor explains. “IoT often provides organizations with a chance to capitalize on possible annuities and valuable data-mining opportunities. Arrow’s end-to-end IoT solution platform is unique to the industry and allows customers the opportunity to collaborate and discuss how they can implement an IoT solution into their product portfolio.” Trevor sees advancements in sensing technology, cloud services, data-collection and analytics as driving the adoption of IoT in non-traditional businesses, while providing companies of all sizes with an efficient and cost-effective way to differentiate themselves from the competition. One of Arrow’s key differentiators is its extensive investment in technical resources to help support the ever-changing landscape of the electronics market. Between Arrow’s engineering solution center, technology-focused business development teams and thousands of global field applications engineers—including engineers available online at Arrow.com, Arrow has the ability to address almost every problem that its customers face. Arrow’s brings the TechStorm process to addressing customer challenges. “Our goal with the TechStorm process is to get ahead of these issues by brainstorming with our customers at the conceptual and early design phases of their projects,” says Trevor. “In doing so, we can leverage our extensive line card, understanding of technology trends and emerging technologies to provide direction and support to our customers, which allows them the ability to make educated decisions and informed choices.” With Arrow’s commitment to guiding technology innovators forward, entrepreneurs and startup businesses at the RIC Centre can look forwards to the company’s expertise, resources and assistance in their work. Collaboration is key to building an innovation hub. Is innovation important to you? Connect with the RIC Centre community to explore collaboration opportunities: https://goo.gl/jyPxU7. “Our commitment to the RIC Centre starts with our exciting collaboration announcement, but we envision serving as a key technology resource and providing on-site guidance and support to early-stage companies. Startups at the RIC Centre will also have access to Arrow’s comprehensive online design and prototyping resources,” adds Trevor. “We have already started planning programs and forums to allow RIC’s clients to be exposed to technology trends and leaders on-site at the facility. We can’t wait to see the exciting new technology that will come out of this collaboration.” Collaboration is key to building an innovation hub. Is innovation important to you? Connect with the RIC Centre community to explore collaboration opportunities: https://goo.gl/jyPxU7. Join the RIC Centre on Thursday, April 6th for our latest upcoming Growing Your Business Seminar: The Power of Digital Marketing. Don’t forget to become a RIC Centre client today and gain access to all the professional expertise and resources to grow your innovative business idea!