JLL and Lendlease launch proptech accelerator
Qualified startups stand to receive $20,000 grant.
Real estate firms JLL and Lendlease are launching Propell Asia, the region’s first proptech accelerator based in Singapore.
The ten-week accelerator programme will work with five early stage startups that have a clearly defined product in property management; real estate transactions; construction management; data collection, data science and analysis sectors.
“Propell Asia is purpose-built to provide start-ups with the platform to accelerate their business success. Through our integrated business models and networks, Lendlease and JLL will enable participants to access the entire real estate value chain – including investment, development, construction, brokerage, consulting and facilities management – and opportunities to test and validate their products,” said Lendlease CEO Tony Lombardo.
Startups stand to receive a $20,000 grant, as well as access to reputable mentors comprising real estate industry experts and successful start-up founders. The programme will be based at District6, a co-working space located in Bras Basah.
“Against the backdrop of rapid urbanisation and the rise of smart cities, our industry in Asia Pacific is primed for the next wave of disruption. Data analytics, artificial intelligence, the Internet of Things, virtual reality, blockchain; all of these technologies will play a pivotal role in the evolution of the real estate industry,” said JLL Asia Pacific COO Albert Ovidi.
Applications for Propell Asia open from 25 June to 17 August, and the accelerator programme for the five qualified startups will commence in Q3.