Frequently asked questions about our Connected Hardware program.

Here's what you need to know about taking this program in Bahrain or Hong Kong.

Q:

How does Brinc evaluate startups for the accelerator?

A:

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.


Q:

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

A:

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 run through product logic. We focus on technical feasibility, as well as, market desirability and financial viability. We will have weekly office hours, dig into work product together and our entire team will sit down with you to talk through short and long term goals. 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, eight teams will be selected to move forward with the acceleration program for another 3 months and the full Brinc offer - our tools, cash investment, space, education, perks, mentor and vendor network, and so on - will be available.


Q:

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

A:

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 Make team yet. 


Q:

What is the application process?

A:

We open applications twice a year for our spring and fall programs.

If applications are not currently open, stay tuned to our newsletter to find out when they open next.


Q:

What is the application process?

A:

We have two 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 will send across an information pack and termsheet for signature and look forward to the Ramp Up! The whole process will take less than four weeks from the close of applications.

We only take on the companies we really believe we can create value for.


Q: 

What is expected of me during the program?

A: 

We expect founders to be full-time on their project, committed to work and make the most of the Brinc resources, including our time, to reach your goals.

This means taking advantage of the office hours, being prepared and bringing your all. We'll meet you half way. 


Q: 

What can I expect after the program?

A:

After we've completed the 4-months, you'll still be a part of the Brinc family.

This means the Brinc founder network, vendors, perks, quarterly meetings with our entire team, 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.

And of course, the further funding available through our fund partner, Artesian Capital Management.


Q: 

How does the mentor network work?

A: 

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. 


Q: 

When will I receive the capital?

A: 

We aim to move fast.

We know cash is critical to building early stage hardware businesses. We've designed our process to move swiftly through the standard paperwork required for writing that check. Teams selected for the program will receive $50,000 upon signing a shareholders agreement and setting up a Hong Kong entity. We share the shareholders agreement template with you before you even join the Ramp Up so you will have plenty of time to review and ask questions. And don’t worry, we will also help you set up in Hong Kong.

The other $50,000 is paid out upon completion of the four month program.

Our $30,000 program fee will only be charged once you've received the investment:

  1. $15,000 is due to Brinc after you receive the first $50,000 investment tranche; and
  2. The remaining $15,000 is due to Brinc after you receive the second $50,000 tranche.

Simple.


Here's what you need to know about taking this program from Hong Kong.

 

Q:

Are there any specific requirements for teams to join the Hong Kong Connected Hardware program?

A:

In addition to the qualities and requirements for our programs globally, startups need to be a Hong Kong entity in order to receive the $100,000 cash investment through the connected hardware program. We'll help you with this process - so no sweat there.


Q:

Why do we need to register our business in Hong Kong? 

A:

Hong Kong makes a lot of sense for hardware.

There are several reasons incorporating in Hong Kong makes sense for hardware businesses:

  • If you source goods, do R&D, or manufacture in China, conducting business through a Hong Kong entity saves time and money thanks to a special agreement between Hong Kong and Mainland China called CEPA allowing the free movement of goods and capital.
  • Very business friendly: no foreign ownership restrictions, low and simple tax system, rule of law and respected judiciary system makes contract and legal work dependable.
  • Unbeatable location as part of the Greater Bay region and within five hours of half the world's population. And 90% of the world's electronics is produced less than three hours away.
  • One of the world's top logistics and aviation hubs.

And lots more. We're always happy to talk about why Hong Kong makes hardware sense.


Q:

What are the commercial terms for the program?

A:

Teams joining the full acceleration program give 8-13% in common shares for $100,000 and the full support of the accelerator.

We invest in teams tackling a wide variety of problems from all over the world, coming from different markets with different economics and benchmarks. We therefore allow for some flexibility in the % exchanged for the $100,000. 

We charge a $30,000 program fee for participation in the full acceleration program (Months 2, 3 and 4). This helps us cover costs and make sure we can deliver a world class program to our founders.


Q:

Is there follow on funding available? 

A:

Yes! And lots of it. 

The $100,000 is just the beginning. Startups that graduate from the accelerator are eligible to receive up to $200,000 follow on funding on their next round, and for teams that continue to positively grow, the funding will be there with you. 


Q:

Do I have to go to Hong Kong for the Full Acceleration Program?

A:

We believe prototyping quickly and efficiently and building a lasting business can only truly be done when you're connected to your customers.

That's why we run our program remotely - so you can stay in market with your customers - and onsite - so you can leverage the powerhouse of the Brinc team and the Greater Bay area. This blended approach looks roughly like this:

  • Month 1: Remote. Stay in market.
  • Month 2: Join us in Hong Kong to sprint through critical modules, visit Shenzhen for sourcing and research, finalise setting up your HK entity and bank account and more.
  • Month 2: Stay in Hong Kong with us if you like, or return back to your market for continued remote support and programming. 

Q: 

Who is behind the Hong Kong program?

A: 

One amazing partnership and a bunch of very passionate folks.

Brinc is a dynamic and extremely diverse group of experts, united around our passion helping founders build great products and businesses. Learn more about us here.

To add fuel to our fire, we've partnered with Artesian, an alternative investment manager, to create the Brinc Artesian Venture Fund. Together, we invest $100,000 into each startup in the Brinc program, with access to significant follow- on funding.


Here's what you need to know about taking this program in Bahrain.

 

Q:

Are there any specific requirements for teams to join the Bahrain Connected Hardware program?

A:

In order to join the Bahrain program and receive the cash investment, startups need to be a Bahrain entity and obtain a CR.

Don't stress though, we'll help you with this process.


Q:

Why do we need to register our business in Bahrain?

A:

It’s a requirement of our Bahrain Accelerator program for teams to obtain their Commercial Registration (CR) in Bahrain, to unlock the funds we invest.

Our friends at the Economic Development Board (EDB) can support with this process.

The government in Bahrain is pouring support into the startup ecosystem to drive entrepreneurship and bring new business to the region. This is really exciting for folks like you with a vision to build great businesses.


Q:

Why should we open our company in Bahrain?

A:

Bahrain makes a lot of sense for hardware.

There are several reasons incorporating in Bahrain makes sense for hardware businesses:

  • 100% Foreign Ownership and Management
  • 0% Corporate Taxation
  • Low cost base
  • Active and supportive startup community
  • A growing number of Incubators & Accelerators
  • Active investor community with numerous pitch and networking events
  • Government support available for startups
  • Easy company setup and operation
  • The ideal test bed for your product or service ahead of regional expansion
  • Strategic and cost effective location within the Gulf
  • Ranked 2nd in MENA in Ease of Doing Business Index (2017)

For more information about the benefits of moving to Bahrain, get in touch with our partners at Startup Bahrain.


Q:

What are the commercial terms for the Bahrain program?

A:

Teams joining the full acceleration program give 8-13% in common shares for up to 75,000 USD for regional teams and 25,000 USD for local teams, for the full support of the accelerator.

We invest in teams tackling a wide variety of problems from all over the world, coming from different markets with different economics and benchmarks. We therefore allow for some flexibility in the % exchanged.
 


Q:

Is there follow on funding available? 

A:

Yes! And lots of it.

The initial investment is just the beginning. Startups that graduate from the accelerator may be  eligible to receive follow on funding on their next round.


Q:

Do I have to go to Bahrain for the Full Acceleration Program?

A:

Yes. This program is designed for you to be onsite, meeting the key movers and shakers in the industry and sprinting with our team to move as quickly as possible.

Plus, in order to meet the requirement of setting up a Bahrain entity you will need to come here anyway.


Q:

Who is behind the Bahrain program?

A:


Local powerhouses and a bunch of very passionate folks.

Brinc is a diverse people all united around our love for entrepreneurship, technology and problem solving. We’re here to support you, wherever you are! Learn more about us here.

For the Bahrain program, we’ve partnered with Batelco, the leading telecom operator in Bahrain.