Announcement Date: September 1, 2017
The market is bombarded with Artificial Intelligence and Machine Learning applications that attempt to use wireless sensors as their stimuli. While AI software and tools have dramatically improved over the last few years, the basic architecture for sensors and actuators has primarily focused on a slightly flawed foundation: wireless mesh.
Wireless is great for mobile devices but most smart building sensors are stationary. Once installed they require power and above all, fast and reliable communications. The faster and more reliable, the better!
As a global platform, LumenCache is paving the way for the largest incremental improvement in smart and efficient building technology. China is eager to adopt this technology as they continue to build out the interiors of thousands of city buildings.
LumenCache founder and CEO, Derek Cowburn, was assisted by GlobalTechIP in applying for a grant from the Government of Nanjing. The grants support jobs and revenue for the city and they showed particular interest in the LumenCache platform. After significant competition from local and a few foreign teams, LumenCache was selected for a 1,500,000 RMB grant (approximately $225,000 USD). The Nanjing company is a Wholly Owned Foreign Entity (WOFE) of LumenCache, the Indiana, USA parent company.
Nanjing is located about 1 hour from Shanghai and attracts professionals in the Artificial Intelligence industry.
The grant is phased in and the LumenCache subsidiary must meet specific milestones to achieve the entire grant amount.
“We’re honored to receive the grant and to have earned the trust of the government and local industry experts needed to be selected” said Derek. “I invented LumenCache to solve several problems I saw with current building technologies. The AI potential is the most exciting part of everything it solves. I can’t wait to see what the buildings learn to make their occupants happy.”