A: During the past nine months since we launched in Hong Kong, we have completed 12 investments over three batches. We supported companies in smart music, smart home wearables and smart sports.
One cool company we have backed is called Aumeo Audio. They allow people to hear music according to their own earing characteristics. It is like eye glasses for your eyes.
Q: What is your process of helping out IoT entrepreneurs?
A: The first step is acceleration, which is helping them to develop the business models correctly and design the products. We clean up all the challenging things that they might not have thought through, such as getting the positioning right, how to go to market, etc.
The second step is product development, where entrepreneurs will launch their products to the public.
The last stage is to help them go to global distribution partners all around the world and start shipping.
So from the beginning, we think through to the very end to validate if that product has a place in the world. We talk to our distribution and retail partners to validate if they would put this product on shelves once it is developed and made.
Q: How do you picture our future after the IoT revolution touches every facet of our lives?
A: I think IoT 1.0 was when manufacturers made single smart devices. For example, they put sensors in a toothbrush to monitor our activities.
We are now moving into IoT 1.5, where devices are getting smarter and interacting with the cloud and services around us. So that toothbrush may integrate with an award system, or sharing that data with your doctor.
Our future is IoT 2.0. That’s when all the devices would be speaking to each other. So, that toothbrush can be connected with our weight scale, or our physical activities, to create more consumer value.
Q: Lastly, why did you set up shop in Hong Kong?
A: Hong Kong has a fantastic intellectual property system. There are unbelievable ecosystem partners that have been supporting the old economy of trade and finance to support physical shipping of products all around the world. There is great government support with IP grants, internships and ESS grants. Across the border, you can find the best-in-class manufacturing capabilities, as well as the world’s largest trading fairs.
What we can do here within a few months takes tremendously longer anywhere else because all of our partners are here.
About Manav Gupta:
Manav Gupta is the founder and CEO of Brinc, an IoT accelerator based in Hong Kong. Previously, he was CEO and co-founder of FabriQate, a mobile innovation company based in London.