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Open Call
Now in its third cohort of startups, Newlab and Verizon’s 5G Studio continues its aim of addressing the challenges and opportunities presented by the advent of 5G technology, this time with a specific focus on manufacturing and warehouse processes. Leveraging the capabilities of 5G, the program aims to foster the development of innovative technologies that have the potential to revolutionize manufacturing processes, logistics, and operational workflows that can lead to smarter and more energy efficient factories, warehouses, and industrial systems.
One of the key aspects of the 5G revolution is its potential to usher in a new era of edge computing. Unlike traditional cloud computing, edge computing brings processing capabilities within devices and remote locations. This shift opens up new possibilities for businesses to optimize their operations and services. The lower latency and increased capacity of 5G makes it ideal for managing autonomous industrial units and enabling better connected devices. This enhances efficiency, reduces energy consumption, and promotes sustainability.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
Grant funding pool divided among participating companies to support pilot development and offset associated costs; no equity taken.
