A new incubator programme for Internet of Things startups in Europe and the US has been launched by consulting, systems integration and digital services company, Reply.
Reply said the programme, known as Breed Reply, will fund, support, accelerate and grow the of ideas of innovative startups working on products that are centred around the IoT.
Through Breed Reply, which will operate out of London but also have branches in Italy and Germany, IoT startups will be able to access seed and early stage funding, in addition to mentoring and consultancy services.
Reply is made up of a network of companies, which support industrial groups in defining and developing business models to optimise and integrate processes, applications and devices, using new technology and communication paradigms, such as Big Data; Cloud Computing; Digital Communication; Internet of Things; Mobile and Social Networking.
Breed Reply CEO Emanuele Angelidis said that startups accepted on the incubator programme would have quick access to this network of companies and their clients, which made Reply's offering more attractive than that usually offered by traditional investment funds or incubation programmes offered by a single large corporation.
Startups are being invited to apply for Breed Reply between now and 14 November through an initiative known as IoT Best in Breed. Reply said the most innovative ideas will be enrolled into the incubator with immediate effect.
"Reply has been investing in expertise and solutions for the Internet of Things since 2009,” said Reply Chairman Mario Rizzante. “We are now witnessing a further acceleration in the fragmentation of this market, impacting all sectors and consumers’ daily life. In order to seize the most interesting innovative opportunities, Reply has created Breed Reply, an advanced incubator which will contribute to fuel the innovation process, creating real value within the group.”
Breed Reply announced that it has already invested £675,000 in a wearable swimming device made by a company called Xmetrics, in return for 30 percent of the business.
Xmetrics uses sensors, electronic components and software via mobile devices, to enhance the training sessions of professional and amateur swimmers, analysing their main biometric parameters and their real time performance.
Andrea Rinaldo, co-founder and CEO of Xmetrics, said: "Xmetrics intends to become a leader in the sector of wearable technologies applied to swimming. The funding and expertise provided by Breed Reply allows Xmetrics to accelerate the process of technological innovation, making our vision and that of our clients become a reality."
Breed Reply said the investment into Xmetrics is part of its wider development strategy on the Internet of Things and, in particular, the wearable technologies area.
Emanuele Angelidis, Breed Reply CEO, said: “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.”
Reply made its first investment in a wearables company in July 2014 when it acquired 20 percent of the capital of the US-based Sensoria.
Breed Reply is the second wearables/internet of things accelerator to be announced this week, after Wearable World unveiled on Monday that it would be expanding its San Francisco accelerator to London.