French energy management solutions provider Schneider Electric announced a partnership to bring Hong Kong-based Brinc’s accelerator programme to India to encourage startups developing industrial Internet of Things (IoT) and electric energy management solutions.
Brinc & Schneider Electric Energy & Industrial IoT Accelerator Program will address challenges around making connections, data acquisition and analysis for industrial-scale IoT devices, according to a statement issued by Schneider Electric.
The programme will also support the development of new applications and services in buildings, infrastructure and manufacturing to facilitate tasks like enterprise planning and managing product lifecycle systems, the statement added.
Within the incubator’s ecosystem, new use-cases will be devised by leveraging data analytics by working with startups developing solutions harnessing machine learning, artificial intelligence and IoT.
Candidates succeeding from the startups will receive $125,000 (around Rs 86 lakh at the current exchange rate) apart from mentoring from Brinc and Schneider Electric. In exchange for the prize money and mentorship, the graduating startups will have to part with 10% equity, the statement said.
The programme will be conducted over three months. Applications are open till August 10, 2019 and applicants will have to be present in Hong Kong for one month for on-site training.
“We are excited to partner with Brinc to find the next disruptive idea in energy and industrial automation. We are particularly interested in technology accelerating the convergence between information technology and operational technology,” said Rodolphe Heliot, vice president, business incubation, Schneider Electric.
Founded in 2014 by Manav Gupta, Bay McLaughlin and Bashar Aboudaoud, Brinc conducts accelerator programmes across sectors like hardware, drones, robotics, food technology, energy & industrial IoT.