NEW YORK ( TheStreet) -- Shortly after 8 p.m. Wednesday night, IBM (IBM) announced that Localytics, a three-year old tech firm from Cambridge, Mass., won the twelfth SmartCamp competition, a jousting ground for five start-ups all peddling some type of data analytics software.
While the crowd wasn't as alternative or cool as the ones present at, say, New York City's TechCrunch Disrupt or South by Southwest in Austin, Texas -- think clean-cut entrepreneurs in crisp business casual pitching technology that caters to municipalities and large corporations -- the underlying goal of the event was the same: Highlight hot, mobile applications.
Granted, no new social networks or group-texting apps surfaced. Instead, venture capitalists and IBMers heard about technologies that would wirelessly network nature to city offices, help homeowners use their iPhones to make efficient home-heating decisions and enable corporations to better retain their brand image across multiple social networks.
"It's all about finding ways with iPhones and other mobile devices to do things that are very useful," said Patrick Leslie, founder and CEO of Envirolytics, a four-month-old Canadian firm -- and SmartCamp contender -- whose app enlightens iPhone users to smarter home energy solutions.Seen another way, Wednesday night was about IBM helping to locate lucrative ways to harness very specific data via mobile devices, an initiative that underscores what Big Blue pushes as its higher calling as one of the world's largest tech titans: Find and support products that help solve huge, global problems. "We love complex issues," said Jim Corgel, general manager of developer relations for IBM's software group. After noting that in 2050, city dwellers will make up 70% of the world's population, he ticked off things like better water and traffic management systems. "But there's a lot of creating that needs to go on before those issues are solved." To that end, IBM is now in its second year of sponsoring SmartCamp, essentially a global business plan competition where, instead of money, winning start-ups receive press, mentoring from venture capitalists and other business veterans, and, in some cases, working partnerships with Big Blue itself.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV