Schneider Electric announced a partnership with Brinc earlier this month.
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% of the world’s total delivered energy.
IoT 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, 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.