Schneider Electric & Brinc launch new ‘Energy & Industrial IoT’ accelerator program
In partnership with Schneider Electric, we have launched a new Energy & Industrial IoT accelerator program in Hong Kong. We are looking to invest in and develop the next generation of technology to seize opportunities of Industrial IoT in buildings, infrastructure and manufacturing to drive energy efficiency. We are looking to work with startups that are developing solutions powered by IoT, machine learning and AI to improve assets and process efficiency, reliability and resiliency in buildings, infrastructure and manufacturing.
The program will invest USD $125,000 in exchange for 10% equity along with an additional USD $25,000 in Brinc Services credit that teams can used to support their prototypes, product development or manufacturing. Beyond the funding & services credit, Brinc will provide mentorship, investor networking, customized curriculums per team, technical onsite training, a variety of startup perks packages, etc. The Schneider Electric team will also provide unique access to their global customers, customised mentorship, network e.g. Schneider executives & customers, deep regulation expertise, market knowledge, proof of concept support, access to pilots, and an exclusive workshop with Schneider Electric top executives structured to provide guidance to each individual startup.
Rodolphe Héliot, Business Incubation Director at Schneider Electric Ventures, & Manav Gupta, CEO of Brinc, announcing the launch of the accelerator program at HKTDC Electronics Fair
According to a U.S. Department of Energy report, up to 50 percent of industrial energy input is wasted through gas losses, heat and steam. ⅔’s of energy efficiency potential remains untapped, with the biggest opportunities being in buildings (82% untapped efficiency) and industry (50% untapped efficiency). In a nutshell the present way of managing energy is unsustainable.
In addition 2.3 billion people currently do not have reliable access to energy & surprisingly this number is expected to increase (not decrease) exponentially. By 2050, the world’s energy consumption is expected to increase by a staggering 50% due to increased urbanization, industrialisation and digitization. As a result in addition to working towards increasing energy capacity, we need to find scalable solutions to become more energy efficient.
IoT is driving a transformation in the energy industry, enabling the energy internet. By understanding consumption & usage through smart sensors and systems we can drive improvement & efficiency. All in all enabling unprecedented operational efficiency in industrial applications such as increased energy flexibility which can bring value to the energy consumer and energy provider.
There is tremendous value in creating sustainable, reliable and efficient operations for manufacturers, service providers and end-users.
“We’re excited to partner with Brinc to find the next disruptive idea in energy” said Rodolphe Heliot, VP Business Incubation at Schneider Electric. “We are particularly interested in technology accelerating the convergence between information technology (IT) and operational technology (OT)”.
After investing in over 79 companies this is the launch of our 8th global program. We look forward to working with more corporates in the near future to drive true value to founders around the world in specialised areas of importance.
This partnership is part of Schneider Electric’s Innovation at the Edge Program, which invests, incubates and partners with start-ups and large companies to co-innovate the future of energy, and has more than 40 startup partnerships and incubation projects.
Applications are open to startups from around the world. The 3 month program will begin in the Fall this year. Successfully accepted startups must be in Hong Kong for the month of November while the rest of the program can be done remotely.
Learn more about the Brinc & Schneider Electric accelerator program: www.brinc.io/energy