New Delhi: Schneider Electric announced on Wednesday a partnership with Brinc, to bring Brinc’s Accelerator programme to entrepreneurs in India and across the world. Applications for the programme are open now and until August 10, 2019.
The number of cellular IoT connections is expected to reach 3.5 billion in 2023, and industrial sectors consume more than any other end-use sector, employing about 54 per cent of the world’s total delivered energy. 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 and 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, Vice President 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, plus Brinc and Schneider Electric mentoring and services in exchange for 10 per cent equity of the startup. Applications are open to entrepreneurs around the world but they must be present in Hong Kong for one month of the programme for on-site training, and two months of the programme can be done remotely.
This partnership is part of Schneider Electric’s Innovation at new link 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. Those interested may visit https://www.schneider-electric.com/en/about-us/ventures/ for more details.