CORK, Ireland, March 30, 2016 /PRNewswire/ -- Tyco (NYSE:
TYC) announced today that it has opened innovation centers aimed at
solving broader customer problems while championing startups in
security, fire protection and smart connected technologies.
The first centers are operating in Silicon Valley and Tel Aviv, with more centers planned for other
locations later this year.
"We're constantly looking for smarter solutions to customers'
challenges, and increasingly those solutions go beyond a fire
protection or security purpose to improve their overall operations
and advance their core mission," said Daryll Fogal, Tyco's Chief Technology
Officer. "Tyco's innovation centers will be at the heart of
this drive, combining local vibrant startup cultures with Tyco's
expertise and global business to spur growth through innovation. We
plan to partner with or invest in the most promising startups with
successful pilots, bringing new disruptive technologies to Tyco's
products and services portfolio," added Mr. Fogal.
The commercialization program at the Tyco Innovation Tel Aviv
center provides entrepreneurs with an accelerated go-to-market
platform, an opportunity to collaborate with Tyco's business units
and access to the company's vast network of installed systems and
devices, spanning diverse markets and customers in over 200
countries. Tyco is sponsoring startups with innovative
applications in the areas of smart cities, buildings and homes,
retail, and commercial properties. Specific areas of interest
include Internet of Things; retail/store solutions; sensing and
detection; image processing, tracking and location; machine
intelligence; and Big Data.
"The energy, technical expertise and entrepreneurial spirit of
our startup ecosystems create innovative companies," said Eli
Gorovici, General Manager of Tyco's Innovation Center in
Tel Aviv. "We have already
identified a number of startups with breakthrough technologies for
this program to nurture."
The six-month acceleration program comprises a Tyco-funded
roadshow and introduction to relevant Tyco business units,
collaboration with Tyco's industry experts and/or customers,
co-specification of project scope and pilot program, and
implementation of the pilot for several months with Tyco's guidance
and mentoring.
"This program is a great opportunity for startups in the right
spaces to work with the global market leader in fire and security,
leverage our know-how and customer insights, and scale up on a
global stage," Mr. Gorovici noted.
The company has also launched Tyco Innovation Garage facilities
in Silicon Valley and Tel Aviv.
These centers team Tyco's internal R&D capabilities with
partners and stakeholders inside and outside the company to focus
on solving complex customer problems by applying advanced
technologies and sensor-based analytics.
"We plan to bring digital experience to the physical
environment," said Anurag Maunder,
Vice President, Tyco Innovation Garage. "When combined with
our expertise in sensors for security and safety, new generation
technologies such as deep learning and 3D vision will fundamentally
transform people's daily experience."
ABOUT TYCO
Tyco (NYSE: TYC) is the world's largest
pure-play fire protection and security company. Tyco provides more
than three million customers around the globe with the latest fire
protection and security products and services. Tyco has over 57,000
employees in more than 900 locations across 50 countries serving
various end markets, including commercial, institutional,
governmental, retail, industrial, energy, residential and small
business. For more information, visit www.tyco.com.
FORWARD-LOOKING STATEMENTS
This press release contains a number of forward-looking
statements. In many cases forward-looking statements are identified
by words, and variations of words, such as "anticipate",
"estimate", "believe", "commit", "confident", "continue", "could",
"intend", "may", "plan", "potential", "predict", "positioned",
"should", "will", "expect", "objective", "projection", "forecast",
"goal", "guidance", "outlook", "effort", "target", and other
similar words. However, the absence of these words does not mean
the statements are not forward-looking. Examples of forward-looking
statements in this press release include, but are not limited to
statements regarding Tyco's innovation initiatives, partnerships
and investments, technological solutions and disruptive
technologies, and any of their impact on Tyco's future financial
performance, including revenue and earnings, and potential,
priorities, and opportunities for Tyco in the future, capital
allocation priorities, and statements regarding Tyco's acquisition,
divestiture, restructuring and other productivity initiatives.
The forward-looking statements in this press release are based
on current expectations and assumptions that are subject to risks
and uncertainties, many of which are outside of our control, and
could cause results to materially differ from expectations. Such
risks and uncertainties include, but are not limited to: economic,
business, competitive, technological or regulatory factors that
adversely impact Tyco or the markets and industries in which it
competes; unanticipated expenses such as litigation or legal
settlement expenses; tax law changes; industry specific events or
conditions that may adversely impact revenue or other financial
projections; unforeseen liabilities, future capital expenditures,
revenues, expenses, earnings, economic performance, indebtedness,
financial condition, losses, future prospects, business and
management strategies for management, expansion and growth of
operations, access to available financing, and the risk that
disruptions from proposed transactions will harm Tyco's business.
Actual results could differ materially from anticipated results.
Tyco is under no obligation (and expressly disclaims any
obligation) to update its forward-looking statements. More
information on potential factors that could affect the Company's
financial results is included from time to time in the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the Company's
public reports filed with the U.S. Securities and Exchange
Commission (SEC), including the Company's Form 10-K for the fiscal
year ended September 25, 2015, and
subsequent filings with the SEC.
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SOURCE Tyco