BOSTON, June 17, 2019 /PRNewswire/ -- Schneider Electric, the leader in the digital transformation of energy management and automation, today announced a partnership with Brinc.
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.
The Brinc & Schneider Electric Energy & Industrial IoT Accelerator Program has the goal 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.
"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 start-ups and large companies to co-innovate the future of energy, and has more than 40 startup partnerships and incubation projects. For more information please visit: https://www.schneider-electric.com/en/about-us/ventures/
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.
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Brinc is a global venture accelerator with programs in IoT & Connected Hardware, Drones & Robotics, Food Technology and Industrial IoT. With offices in Hong Kong, China, The Middle East, Europe & India, Brinc provides supportive services and capital to help founders move quickly as they build, launch and scale their businesses. Brinc's diverse portfolio of 79 companies comes from 28 countries, is 64% B2B and 36% B2C and have been selected from over 5,700 applications. One of Brinc's unique value adds is its strong partner network of over 500 suppliers and manufacturers in the Greater Bay region of China, providing Brinc teams with an unique advantage compared to other startups. In addition, Brinc has strategic partnership with some of the world's leading R&D and distribution companies to support their Food Tech investments. Brinc makes investments ranging from $35,000 - $240,000 as part of it's programs and can follow on with up to $800,000 in additional capital from their venture funds. Brinc's seven accelerators, five offices, and 70+ staff have a singular mission; accelerate founders who are transforming Where We Live, What We Eat, How We Move & How We Feel.
i Ericsson Mobility Report, June 2018, IEA
SOURCE Schneider Electric