Global IoT Accelerator


How does Brinc evaluate startups for the accelerator?

We back founders first, companies second. While Brinc evaluates each founder and team on a case-by-case basis, there are some characteristics that are favorable:

  • 2 cofounders. The right balance between background, flexibility, and effectiveness.
  • Teachable and open minded. You will learn a lot in a short period of time, it helps to be curious.
  • Pre-crowdfunding or pre-digital launch. Once you have crowdfunded, you have locked-in features, price and timeline.
  • A functional prototype. This shows you have put some action and thought into your solution.
  • Grit and determination. There’s a challenging road ahead. The right attitude goes a long way.
  • 6+ months runway. This allows us to focus on building the business, not just fundraising, during the program. 

What is the difference between month 1 (ramp up) and months 2-4 (full acceleration) of the program?

We want to make sure the fit is right for both you and us. The first month is designed with this in mind. 

During the first month we will run through materials and tools aimed to set you up with a pre-launch financial model, perform valuable market research and product logic. We'll have weekly office hours and Brinc All-Hands. If for any reason either you or Brinc decide not move forward together within this first month, no problem. No questions asked (though we'd love the feedback) and no equity taken. 

After the first month, up to four teams will be selected based on progress to move forward with Brinc accelerator for another 3 months and the full Brinc offer - our tools, education, perks, and so on - will be available.  


Why does Brinc hold equity positions in teams participating in the accelerator?

Equity allows us to be aligned for the long haul. This means we're motivated for you to succeed well beyond the 4-month sprint and will work hard for us to both win. 


What are the legal terms?

We use an option agreement for 3% fully diluted at the time of signing. We set the share strike price based on your last external valuation and have the shares allocated, but not issued, when you join Brinc. This means we will be diluted with other shareholders upon future fundraising. We ask for basic rights including information rights. 


Can I work with Brinc Studio and Brinc Accelerator at the same time?

Yes! As a Brinc Accelerator team, you will receive discounted rates from Brinc Studio. You will need to meet the basic requirements for Studio though - we don't want to waste your time if you're not ready to work with the Studio team yet. 


What is the application process?

We have multiple application intakes each year. First, you apply online via AngelList or F6S before the given deadline. After applications close, we get reviewing. Our review team includes technical and business-oriented team members. If the application looks like a good fit, we will then arrange for a phone call with our senior team members to learn more. If all signs point to go, we'll send across the option agreement for signature and look forward to the Ramp Up! The whole process will take less than four weeks from the close of applications. 

We can’t take everything on.  We only take on the companies we really believe we can create value for. 


When can I apply to Brinc?

Multiple times a year! Stay tuned with our newsletter for updates on the next application cycle. 


Can I work in Hong Kong or Guangzhou for any part of the Sprint?

Yes - in fact, we love having founders work from our spaces in Hong Kong or Guangzhou. It's incredible how fast we can move when we're physically together. 

It's not required though - we encourage you to be where it makes business sense for you to be. That might mean staying in market or city hopping. 


Am I required to be in HK for any part of the program?

Nope. We work digitally and across timezones. Thank you, technology! 


How much funding should I have before joining Brinc?

Teams applying to Brinc should ideally have at least 6 months of runway from the start of the program. This enables us to focus together on building a great product and business, not just prepping for pitching (we do that too, though). 


What is expected of me during the program?

We expect founders to be full-time on their project and make the most of the Brinc resources, including our time. This means taking advantage of the office hours, being prepared and bringing your all. We'll meet you half way. 


What can I expect after the Sprint?

After we've completed the 4-months sprint, you'll still be a part of the Brinc family. This means the Brinc founder network, vendors, perks, quarterly Brinc-All hands and space when you're in town are available to you. This is why we take equity - so we can be with you through scale.


How does the mentor network work?

Our mentor program is not like most other accelerator programs. It's tight-knit, deeply specialised and available for discrete and specific instances. We think this is a good thing. It means you get highly tailored advice from the best people we know in the industry, precisely when it's relevant. 

 

Drone Accelerator

'Reimagine Drone'


How is Brinc qualified to run a drone services program?

We were really inspired by the talent and enthusiasm that we found in the region yet found there was a need from up-and-coming entrepreneurs looking to jumpstart their drone services concepts but didn’t have access to the resources, services or applications that lie typically in the West or in Asia.

With Heriberto, our dedicated technical resource for Reimagine Drone who will be on the ground working closely with the startups in the program in addition to key members from Brinc and leading Barcelona incubator, Incubio, we have a strong, passionate team ensuring that participating startups get access to the latest drone platforms and technologies to develop commercially viable services and applications for global markets.


Can my drone idea be a selfie drone?

No, we are focused on drones as a service, that said, here are some examples of use cases we would get excited about: 

  • Agriculture
  • Construction
  • Insurance
  • Inspection
  • Public Safety
  • Infrastructure
  • Oil & Gas, Utilities
  • Mining
  • Wildlife & Environment
  • Humanitarian
  • GIS
  • Surveying
  • Cinematography
  • Advertising
  • Law Enforcement
  • Maritime

Why did Brinc choose to launch a program in Barcelona?

We’ve always been attracted by Barcelona, a city known for its strong foundation in mobile and software technology and vibrant startup community. With Brinc’s accelerator platform located in the Pearl River Delta (PRD), the center of manufacturing, and our collective experience from taking entrepreneurs from all over the world from concept to commercialization, we can’t wait to join forces with Incubio to combine our platforms and offer European startups the education and resources traditionally reserved for companies located in Asia to to build the next generation of drone based services and applications.


What is the program structure?

The semi-finalists will enter a 2-month pre-accelerator program which will be run by Incubio and will consist of a combination of customized online Lean Startup curriculum and in-house technical support, training and mentorship. During this time, they will also compete to be one of three finalist for the on-site incubation stage in Barcelona.  The three finalist that will go to Barcelona in exchange for 6% equity will receive access to the latest drone prototyping tools and technology, mentorship from IT, legal and accounting professionals, 200 hours of specialist's time to refine execution and opportunities to exhibit to investors and mentors. The program will culminate with a demo day where up to €50,000 investment will be granted to companies that demonstrate traction.

Brinc Services


How much do your services cost?

Each service we provide is different, but don’t worry, we aren’t here to make a lot of money off of startups! We just want to make enough to keep the lights on and get you safely through the product development and mass manufacturing process. Feel free to get in touch with us by clicking one of the ‘get in touch / schedule a call’ buttons above and we will walk you through the specifics.


Do I have to / should I come to China?

You don’t have to come to China, but a lot of our teams make at least one trip. We can and will handle all of China for you if you would like. But, we do think there are benefits to meeting your partners in China, especially your final contracted assembly / manufacturing partner. If you don’t want to come, we are happy to ship the production units to you for inspection and sign off. This way of working just takes a little longer, but is totally fine. 


Do you have engineers on staff that do the R&D work?

We do have engineers on staff, but we don’t do engineering work. The amount of possible projects and specific technical skills required to hire that many engineers would be insane! Instead, we partner with the best engineers and designers in each respective field and do engineering quality control throughout the process. This allows us to keep our costs down, hence, charging you less! If you’ve ever received a quote from a product development group, you know how much it costs. That’s why we’ve partnered with the ones that like to work with startups and understand their cash limitations. We promise that we will tell you up front if we’re the right firm to work with or not. If not, we will do our best to make an introduction to another group that can handle your project. 

 


Who will I work with if I engage Brinc for services?

You will have a dedicated relationship manager in China that speaks English and who will be your single point of contact throughout your project at Brinc. If you ever have an issue and want to speak to someone else, it’s no problem. We’re always happy to speak to our customers. We will ensure you have multiple ways to get in touch with us and you’ll always be welcome at any of our Brinc offices!

China Trip


What do I need to do to prepare for the trip?

We will send you a checklist of what you need to plan for prior to your travel. But we advise to look at flights immediately to ensure you can make it. Flights can be very cheap if you get them ahead of time. So take a look and check back with us on your application status.


What can you expect?

From experiencing the hustle and bustle of HK to the electronics market of SZ to networking with IoT founders, be prepared for an immersive experience in IoT. Oh, not to mention being tired… Asia is super fast paced!!! Get ready


What will Brinc provide?

All we ask is for you to fly down and find adequate lodging – we will take care of the rest (including giving you recommended housing and discounts wherever possible).


What stage should I be in?

If you intend on building a hardware startup, we encourage you to come to China sooner rather than later! That being said and due to the high demand for the trip, we are looking for founders that at least have a first version of their prototype and have a dedicated team working on the project. 


What should you bring?

  • Come with your ideas, prototypes and a large spoon of interest.
  • But more seriously, check the weather forecasts. During the fall, it can be very hot, but it could also become cool quickly (plus, everyone blasts air conditioning, so you’ll need something warm when you go inside, but nothing heavy). If you burn easily, you may need a hat depending on the time of year.
  • Bring comfortable clothing. No reason to dress up. We’re all startups here and when you’re in the markets and factories, just make sure you have closed toed shoes (no flip flops).
  • If you’d like to change money before you come, it’s not a bad idea to have some Hong Kong Dollars and Chinese RMB or Yuan. You can get it here by exchanging your local currency, but don’t assume your local bank or ATM will work here. It does most times, but better safe than sorry. Lots of people take cash here. Using credit cards is not common everywhere (plus, you don’t want to get smashed with international credit card fees if you don’t have those covered as part of your card).
  • If you have any other questions please feel free to reach us at info@brinc.io

Brinc Cash Flow Tool


Who is this tool for?

  • This tool is to help hardware startups to define and manage their product development costs using Google Sheets. We provide a template and some convenient features to help you get started with an analysis of your R&D, manufacturing and operating costs. This structure will enable you to have an understanding of your burn rate and set potential fundraising goals.
  • More comprehensive financial models with detailed BOM, payment terms, inventory management and manufacturing costs are available to Brinc portfolio companies. For more information, just click on the Apply button above.

Can Brinc see all of my financial data?

  • No. We do not see, collect or store any of your financial data. We only collect general statistics about how the add-on is being used, as well as your email address. We will use these email addresses to communicate any important changes about the tool and send periodic news about Brinc.

How do I use the tool?

This free model focuses primarily on the Product Development costs, when Manufacturing costs may not be known yet.

  • Start with populating the Costs tab, then populate the Cash Flow tab.
  • Cells shaded light blue require user input.
  • Cells shaded white contain formulas and should be changed only if the user understands the impact. Please check dependent formulas.
  • Cells with black triangle in the corner contain useful comments to help populate the model.

Can I add/delete rows or columns?

  • This cash flow tool is created by Brinc and provided for free as-is. You may edit to suit your purpose, but it is always prudent to check your formulas. In general, changes may require some adjustments in referencing formulas.
  • Note, the dates in the column headings are dynamically generated based on Cell B7 of the Costs tab.

What is the Overview tab? It does not seem to link to the rest of the model.

The Overview tab highlights all the key costs and expenses that you may incur as you develop and manufacture your product. It gives you a look at what costs may be around the corner, so you can plan ahead. You should review each item and consider the impact on your company. As mentioned, more comprehensive financial models including manufacturing costs are available to Brinc portfolio companies. For more information, just click on the Apply button above.


What if I want to forecast my sales growth using a different method? Your method is too simplistic and does not fit my company.

Great! We provide this tool as a framework for hardware start-ups and it should be used as a starting point. The sales forecasting and manufacturing cost modules are basic tools to help young companies come up with a general estimate. Feel free to enhance the cash flow tool with your own methods that fit your company’s situation. At the end of the day, you own your cash flow and the better data you input into the tool, the better information you will have to make your business decisions.


I completed the cash flow tool. Now what?

Your cash flow model should be an ever-evolving document. You can analyze the monthly Ending Cash Balance on the Cash Flow tab to see what your burn rate is and how many months of runway your company has. As you gain more data points, enter them into the cash flow tool to refine your projections.