Proving the Business Case for the Internet of Things

Reply sets up incubator for European, US IoT start-ups

Iain Morris
October 16, 2014
 
Digital services and consulting player Reply has set up a new Internet of Things (IoT) incubator that will help to fund and provide support for start-ups addressing IoT opportunities in Europe and the US.

The incubator, which is named Breed Reply, will be based in London but have offices in Italy and Germany.

Reply (London, UK) says it will provide three types of service to IoT start-ups – funding at “seed” and “early stage” levels, consulting support and the opportunity to become a part of Reply’s ecosystem of technology players.

Reply has already agreed to invest £675,000 ($1.07 billion) and acquire a 30% stake in XMetrics, which is developing wearable technology that allows swimmers to measure biometric parameters and performance.

Prior to announcing plans for Breed Reply, Reply had also taken a 20% stake in US-based Sensoria, which is also targeting the wearables opportunity.

Between now and November 14, Breed Reply said it will offer start-ups the chance to present their ideas and projects through its IoT Best in Breed initiative, which aims to identify the most innovative ideas in the IoT space.

“Breed Reply represents a great opportunity for start-ups,” said Emanuele Angelidis, Breed Reply’s chief executive. “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,” added Angelidis. “Xmetrics is a prime example of that and we will work with them to create a successful company.”
 
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