Foster City-Based Company Grabs WSJ Innovation Award

Developing a 21st Century solution to a problem that's dogged motorists in big cities since the advent of the automobile landed a Foster City-based company an award for innovation from one of the world’s leading business publications.

Streetline, Inc., was named this year’s runner up for The Wall Street Journal Technology Innovation Awards in the transportation category in recognition for its development of a smartphone application that delivers real-time information on available parking spots nearby. 

Streetline was among 600 companies, organizations and individuals from 31 countries that submitted applications for consideration for the award. The winners were selected by a panel of judges from venture capital firms, universities, among other groups.

The entries were judged on whether their innovations broke with conventional ideas or processes in its field, and the projected impact on their field and future technology. Judges chose a total of 35 winners in16 categories.

Streetline’s award-winning app, called “Parker,” detects the presence of a car through a network of ultra-low power wireless sensors located in individual parking spaces.

By downloading Parker onto a smartphone or other mobile device, consumers can access real-time parking availability – with icons noting more than four spaces available (plenty of parking), more than two spaces available (some parking), or less than two spaces available (limited parking).

The app also delivers information about parking space time limits, pricing, whether meters take credit cards or coins, and space capacity for select off-street parking facilities including structures and lots.

"Streetline is honored to be recognized as a leading technology innovator by such a prestigious publication," Streetline President and CEO Zia Yusuf said in a prepared statement. "With the launch of Parker, we introduced the first fully integrated consumer smart parking platform that not only helps consumers easily find and pay for available parking, it also helps them access parking data - such as location and hours - for facilities across the US."

The WSJ Technology Innovation Award winners will be honored at a dinner and awards ceremony at the Sofitel San Francisco Bay Hotel in Redwood City on November 8. The awards ceremony will occur in conjunction with the VentureWire FASTech conference.