Frequently asked questions about our Robotics program, for Hong Kong and Barcelona.
Can my idea be a selfie drone?
No, we are focused on robotics and drones as a service.
That said, here are some examples of use cases we would get excited about:
- Public Safety
- Oil & Gas, Utilities
- Wildlife & Environment
- Law Enforcement
Why did Brinc choose to run part of the 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 Greater Bay, the center of manufacturing, and our collective experience from taking entrepreneurs from all over the world from concept to commercialization, joining forces with the unique resources for drones and robotics carved out by the Catalonian government in Barcelona only made sense. Barcelona makes for a great test site of technologies, coupled with the powerhouse of the Greater Bay area for R&D, manufacturing and sourcing.
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 and we have less flexibility to help you.
- 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.
- In order to receive the $70,000 cash investment, startups need to be a Hong Kong entity. We'll help you with this process - so no sweat there.
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 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, six 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.
Why do we need to register our business in Hong Kong?
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.
- One of the world's top logistics and aviation hubs.
- And not to mention that 90% of the world’s electronics is produced less than three hours away.
And lots more. We're always happy to talk about why Hong Kong makes hardware sense.
What are the commercial terms for the program?
Teams joining the full acceleration program give 8-13% in common shares for $70,000 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 $70,000.
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.
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 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.
When can I apply?
We accept startups two times a year!
Stay tuned with our newsletter for updates on the next application cycle.
When will I receive the capital?
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 $35,000 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 $35,000 is paid out upon completion of the four month program. Our $30,000 program fee will only charged once you've received the investment: half with the first tranche and the other half with the final tranche.
Who is behind the accelerator?
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 $70,000 into each startup in the Brinc program, with access to significant follow-on funding.
Is there follow-on funding available?
Yes! And lots of it.
The $70,000 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.
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.
From a deal perspective, before accepting the $70,000 investment, participating startups must be registered businesses in Hong Kong.
What can I expect after the program?
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.
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.