The island’s enterprise minister has welcomed an island company’s involvement in new technology.

Laurence Skelly MHK spoke out after Vannin Ventures invested in a UK technology start-up company called Trak365, which is focused on the Internet of Things (IoT) .

Vannin Ventures, which is part of the Manx Telecom group of companies, is also developing an IoT test bed in the island.

The plan is to showcase and support Trak365 and other, future IoT technology partners.

(The Internet of Things is the extension of internet connectivity into physical devices and everyday objects such as kettles and fridges. Embedded with electronics, internet connectivity, and other forms of hardware, these devices can communicate and interact with others over the internet, and they can be remotely monitored and controlled.)

Mr Skelly said: ’As an island we strive to be at the forefront of emerging technology and innovation.

’It is encouraging to see companies such as Vannin Ventures taking the lead in investing in new concepts that may have far reaching implications for both businesses and people in the Isle of Man.’

Vannin Ventures is what is known in the business world as a business incubator, a company that helps other firms that are new or have just started up, to get going with their ideas and plans.

Tom Meageen, managing director of Vannin Ventures, said: ’We all know that IoT will help to shape the future, but the practicalities of providing wireless connectivity for digital and analogue devices is a real challenge for all technology businesses.

’While many companies claim to have a ’’plug and play’’ solution that is easy to deploy, the reality is often very different.

’We’re investing in Trak 365 because it is the highest quality, most reliable and most flexible IoT solution that we could find.

’Trak 365 has the potential to support a massive range of applications in all sectors of the island’s economy, and the public sector.’

Trak 365 talks about how its work with the IoT could enable users to measure virtually anything and can be of help in a crisis.

For example, if the temperature indicates there is a risk of frost damage to crops, heaters canbe activated automatically to mitigate the threat.

Or if a river is rising rapidly, a warning can be sent via SMS (short messages service usually done by text) to the community so they can prepare.

A spokesman said both scenarios are real-life examples of Trak365 deployments in the British Isles.

Trak365 managing director Roger Roberts said: ’As two businesses we have very complementary skills and by working together, we can unlock the limitless growth opportunities open to us.’