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.
Why do we need to register our business in Hong Kong?
Hong Kong makes a lot of sense for Drones & Robotics companies.
Here are just a few reasons:
- 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...
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 commercialisation, joining forces with the unique resources for drones and robotics carved out by our partners in Barcelona (Peninsula and Barcelona Drone Centre) 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.