Partnership aims to foster innovation and scale PropTech startups, with a focus on sustainability, smart cities, and urban development
NAREDCO Maharashtra NextGen has partnered with Brigade Real Estate Accelerator Program (REAP) to strengthen PROPEL, a groundbreaking initiative designed to support emerging entrepreneurs in India’s real estate sector. The collaboration brings together NAREDCO’s expansive industry network and Brigade REAP’s expertise in scaling PropTech startups, creating a robust platform for innovation and growth in the real estate industry.
The partnership is set to be showcased at Excelerate 3.0, a premier event focused on advancing technology and innovation in real estate, scheduled for November 14, 2024, at Hotel Sahara Star, Mumbai.
Brigade REAP, one of India’s leading PropTech accelerators, has incubated a total of 76 startups, the highest in the country. Its Earth Fund, a ₹200 crore PropTech venture fund, further strengthens India’s largest ecosystem for PropTech innovation. With this partnership, PROPEL aims to empower the next generation of entrepreneurs with critical resources, including mentorship, funding, and strategic guidance.
Mr. Prashant Sharma, President of NAREDCO Maharashtra, highlighted the importance of this initiative in the evolving real estate landscape, stating, “India’s real estate sector stands at a pivotal moment, and the demand for innovation has never been higher. By partnering with Brigade REAP, we are ensuring that emerging entrepreneurs have access to not only the capital they need but also the strategic support to succeed in this fast-paced industry.”
Mr. Rajan Bandelkar, Vice Chairman of NAREDCO, further emphasized the role of PROPEL in shaping the future of urban development. “PROPEL is designed to create an ecosystem that fosters creativity, sustainability, and cutting-edge solutions to address the challenges posed by urbanization. With Brigade REAP’s support, we are offering both financial and strategic backing to startups, helping them tackle the evolving needs of the real estate market.”
Mr. Ridham Gada, President of NAREDCO NextGen Maharashtra, added, “We are thrilled to strengthen PROPEL through this collaboration with Brigade REAP. Their leadership in fostering PropTech innovation in India aligns perfectly with our shared vision of accelerating disruptive technologies in real estate.”
At Excelerate 3.0, PROPEL will be a central focus, with participants having the opportunity to pitch their ideas, gain exposure, and secure funding from a network of investors, including those associated with Brigade REAP. The event will also feature discussions on key topics such as smart cities, sustainability, and the application of artificial intelligence in real estate.
Through this partnership, PROPEL aims to provide startups with invaluable mentorship from industry leaders, access to funding, and opportunities to network with investors, developers, and other key stakeholders. Brigade REAP will also offer market insights, investment opportunities, and the expertise of seasoned PropTech mentors to help startups scale quickly and successfully.
This initiative by NAREDCO Maharashtra NextGen and Brigade REAP underscores a commitment to fostering innovation and positioning India as a global leader in real estate technology and sustainable urban development. As the country’s PropTech ecosystem continues to expand, PROPEL is poised to play a crucial role in driving the next wave of innovation in the real estate sector.
Also Read: NAREDCO Maharashtra NextGen Unveils Excelerate 3.0: A Vision for Innovation in Construction
