Schneider Electric partners with Brinc to launch Energy & Industrial IoT Accelerator Program to help startups developing next generation of technology for Industry 4.0
Schneider Electric, a leader in digital transformation of energy management and automation in homes, buildings, data centers, infrastructure and industries, today announced it has partnered with Brinc in the launching of Brinc & Schneider Electric Energy & Industrial IoT Accelerator Program to accelerate startup solutions powered by Internet of Things (IoT) and AI.
The accelerator program is open to entrepreneurs around the world. As part of the program, selected candidates will enter Brinc’s 3-Month IoT & Connected Hardware accelerator in Hong Kong, a global hardware business hub.
Founded in 2014, Brinc helps founders build technology businesses through its venture accelerator programs, services & sales support. The goal of the program is to invest in entrepreneurs developing the next generation of technology to address challenges of data acquisition, connection and analysis for Industry 4.0. IoT devices and platforms will enable new applications and services in buildings, infrastructure and manufacturing, including the ability to link automation systems with enterprise planning, scheduling and product lifecycle systems.
The number of cellular IoT connections is expected to reach 3.5B in 2023, and industrial sectors consume more than any other end-use sector, employing about 54% of the world’s total delivered energy.i IIoT is driving a transformation in the energy industry and enables unprecedented operational efficiency in industrial applications such as increased energy flexibility which brings value to the energy consumer and energy provider.
“We’re excited to partner with Brinc to find the next disruptive idea in energy and industrial automation,” 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).”
Successful candidates receive $125,000 USD, plus Brinc and Schneider Electric mentoring and services in exchange for 10% equity of the startup. Applications are open to entrepreneurs around the world but must be present in Hong Kong for 1 month of the program for on-site training, and 2 months of the program can be done remotely. Entrepreneurs can apply today and applications are open until August 10th.
This partnership is part of Schneider Electric’s Innovation at the Edge Program, which invests, incubates and partners with startups and large companies to co-innovate the future of energy, and has more than 40 startup partnerships and incubation projects.