IoT incubator Breed Reply has launched a new search for early-stage IoT businesses that have the potential to benefit from funding, advice, and support.
This is the seventh time that the company has run its Best in Breed talent-search programme.
Last year, one-third of Breed Reply’s 18-strong portfolio raised a total of more than $50 million in Series A funding from investors.
Funding for growth
Breed Reply funds and supports the development of early-stage companies in the Internet of Things, in Europe and the USA. Based in London, with offices in Germany and Italy, the incubator’s aim is to support talent by bringing new ideas to market swiftly.
Its grant programme provides early-stage funding and supports startups with active operational involvement – managerial and technological expertise, as well as go-to market support through its Reply network.
It focuses on investing in IOT applications for: health; fitness and wellness; smart buildings and cities; security; industrial IoT; big data; platforms; and drones.
Many of the companies in Breed Reply’s portfolio were discovered through previous Best in Breed talent searches, including:
Canard Drones (Spain) www.canarddrones.com
Inova Design (health & wellness, UK) www.inovadesign.co.uk
Cocoon (smart homes, UK) www.cocoon.life
Kokoon (wellness, UK) www.kokoon.io
Connecterra (agritech, Netherlands) www.connecterra.io
RazorSecure (cybersecurity, UK) www.razorsecure.com
enModus (smart buildings, UK) www.enmodus.com
Senseye (industrial IoT, UK) www.senseye.io
Gymcraft (wellness, Spain) www.gymcraft.es
Sentryo (industrial security, France) www.sentryo.net
Iotic Labs (IoT platform, UK) www.iotic-labs.com
Wearable Technologies (industrial health & safety, UK) www.wearable.technology
The route to success
Emanuele Angelidis, chief executive of Breed Reply, told Internet of Business that the most important thing in a good disruptive startup is its people. “You can have fantastic ideas, but if the team can’t execute them correctly then they will fail. Good management can overcome lots of other problems. It is not always the very best ideas that succeed.”
He said the three most common characteristics in successful IoT startups are:-
technology that solves a market problem
a sustainable, scalable business model.
“If you look at all the businesses we invest in, they are fixing an issue,” he said. “For example, Senseye helps manufacturers prevent machine downtime through predictive analysis. FoodMarble has produced a device that can help people with digestive problems, and Connecterra has developed a wearable device for cows that not only improves the productivity of the herd, but also delivers benefits across the whole farming ecosystem.
“These are age-old problems that are found across the globe. The emergence of IoT is creating effective solutions to some of them, and new business models. So the opportunities for this technology are evident. But whatever the solution, the technology needs to be sustainable and scalable.
“By that, we mean it has a long-term use, and it’s good enough to survive the inevitable arrival of competition – and can be replicated for different territories. Start-ups that tick all of these boxes will do well in Best in Breed.”