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Britain gives $62 million to fund research into connecting everything to the internet

David Cameron [1]

David Cameron, the British Prime Minister, has committed more funding towards to the Internet of things, which is a concept that involves having sensors which connect to the Internet in almost everything.

Cameron announced earlier today (March 10) that he would be committing £45 million, or over $62 million USD, to the Internet of things research. There is also a £1 million European grant towards any start up business in that area as well.

“I see the Internet of things as a huge transformative development — a way of boosting productivity, of keeping us healthier, making transport more efficient, reducing energy needs, tackling climate change. … [It] has enormous potential to change our lives,” Cameron is supposed to say in Hannover, Germany, during CeBIT 2014, according to his office [2].

It isn’t just governments who are getting involved with the Internet of things idea. Companies like Microsoft, Intel, Salesforce.com, AT&T and Cisco are also investing in this area as well.

[via Venture Beat [3]]