IOTA Business Innovation Program Welcomes First Participants

IOTA's Business Innovation Program (BIP) has announced its first participants, including Impierce, Orobo, and ObjectID, to develop real-world solutions on the IOTA Mainnet.

IOTA's Business Innovation Program (BIP) has announced its first participants: Impierce, Orobo, and ObjectID, who will be developing their respective solutions on the IOTA Mainnet.

The program, which offers up to €100,000 in funding and access to IOTA's infrastructure, is focused on cutting-edge technologies that aim to revolutionize digital identity, sustainability, and product data integrity, according to the IOTA Blog.

The program's goal is to propel promising startups and innovators to develop groundbreaking solutions on the IOTA Mainnet, making a tangible impact on pressing issues.

The first three participants in the IOTA BIP are:

• Impierce Technologies: A European social enterprise, focusing on a new generation of digital identity solutions, is introducing an ecosystem of products that aim to create a more trusted and secure digital world. Its flagship products, UniMe and UniTrust, are designed to empower individuals with self-sovereign identity and facilitate seamless identity credential verification. UniMe is a cutting-edge self-sovereign identity wallet, offering users complete control over their personal data in the digital age. In an interconnected world, effortlessly verifying credentials is crucial, which is where UniTrust comes in. It is a B2B/B2C credential layer that smoothly integrates with institutions and diverse use cases.

• Orobo: Is presenting a Digital Product Passport (PDP) platform to assist manufacturers in engaging with new European sustainability regulations. The initiative focuses on the sustainable lifecycle of products, from raw material sourcing to final disposal, with the aim of creating a more conscious and environmentally friendly approach to product manufacturing and consumption.

In today's world, consumers are increasingly interested in the environmental footprint of the products they buy. As a result, institutions are now working on new regulations to assess and improve the sustainability of products throughout their lifecycle. Among these initiatives, the European Union's (EU) Green Deal is introducing several regulations, such as the Ecodesign for Sustainable Products Regulation and the Digital Product Passport (DPP).

• ObjectID, developed by SDV Consulting, assigns verifiable identities to physical products, creating a unique digital signature for each product. This technology is used to forge a direct link between the physical product and its digital counterpart on the IOTA Ledger, ensuring the product's authenticity and traceability throughout its journey. This solution is particularly relevant for industries such as food, pharmaceuticals, and luxury goods, where product authenticity is paramount.

The BIP is still accepting proposals until December 31, 2025.