Startup Talk: Technology driving consumer auto sales, ‘connected cars’ will make up over half of global sales by 2020

by Talk Business & Politics staff ([email protected]) 147 views 

Editor’s note: Each Thursday, Talk Business & Politics provides “Startup Talk,” a round-up of startup, technology and entrepreneurial news.

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TECHNOLOGY DRIVING CONSUMER AUTO SALES, ‘CONNECTED CARS’ WILL MAKE UP OVER HALF OF GLOBAL SALES BY 2020
Fifty-five percent (55%) of annual global new vehicle sales in 2020 will be vehicles that are connected – and at that time, nearly half of the global fleet of vehicles in operation will be connected, according to a new forecast by IHS Automotive. The global consumer survey by IHS Markit, entitled “Connected Cars,” indicates that new advanced technologies and increased connectivity are driving consumer preferences as they consider new vehicles.

More than 4,000 vehicle owners intending to purchase a new vehicle within the next 36 months were surveyed, representing four key automotive markets – the U.S., China, Germany and the United Kingdom. Through the survey, IHS Automotive analysts sought to understand which services are must-haves for consumers intending on purchasing a new vehicle for personal use in the next three years, as well as gain an understanding on the propensity of consumers who would be willing to pay for these advanced technologies – and assess how much they would be willing to spend.

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FINTECH SERIES WRAPS UP WITH DEMO DAY
The Arkansas Venture Center’s FinTech Accelerator program wrapped up its 12-week boot camp with a Demo Day at the Clinton Library on Wednesday. Talk Business & Politics profiled the program in a four-part series, which you can access at this link.

You can read a wrap-up of the Demo Day presentation, including Gov. Asa Hutchinson’s announcement to invest more money into future accelerator projects at this link.

SAMSUNG STARTUP RELEASES FIRST SMART GOLF SHOE
Samsung Electronics spin-off IOFIT has released the world’s first smart golf shoe called the Kickstarter, which includes wearable technology that analyzes a golfer’s balance to give them actionable feedback on their swing. According to IOFIT, the shoe’s embedded sensors track swing information from the ground up, acting as a virtual coach for players of all skill levels.

IOFIT’s current funding goal on online crowdfunding site Kickstarter has reached $40,000 and will ship to customers in February of 2017. IOFIT is one of the first official spin-off startups that began as a Creative Lab project inside Samsung Electronics.