New ‘Internet of Things’ incubator launched
Breed Reply to fund and accelerate start-ups in emerging sector
A new tech incubator has launched this month, set to fund and accelerate start-ups in the fast-growing ‘Internet of Things’ (IoT) sector.
Launched by tech company Reply, the Breed Reply programme will focus on funding, accelerating and supporting the growth and establishment of IoT companies across Europe and the USA.
Based in London with offices in Italy and Germany, the programme will offer three separate services; funding at seed and early stage level, knowledge transfer and support, and medium-term support for more established businesses.
It is intended as part of Reply’s wider development strategy to increase its involvement in the IoT sector, especially in the area of wearable technologies.
The Breed Reply initiative has already been active, signing a term sheet to acquire 30% of Xmetrics, a specialist in wearable technologies for swimmers, in exchange for £675,000 investment.
Breed Reply has announced a call for other IoT start-ups to get involved through its “Best in Breed” initiative, which aims to identify and support a further clutch of early-stage companies in the space.
The main areas the incubator will focus on include fitness and wellness, healthcare, smart home, manufacturing, transportation and energy.
Companies have until 14 November to apply to Best in Breed.
Emanuele Angelidis, CEO of Breed Reply, said: “Breed Reply represents a great opportunity for start-ups.
“Alongside the traditional financial support, it provides significant entrepreneurial and managerial expertise as well as synergies with the Reply world. We are looking for initiatives set up by talented people who are able to bring together excellence and highly innovative ideas with a large addressable market. Xmetrics is a prime example of that and we will work with them to create a successful company.”