Wednesday, August 24, 2016

REAP to Accelerate Tech Startup Innovations in Indian Real Estate

Brigade Group, a Bengaluru–based real estate developer, has launched Brigade Real Estate Accelerator Program (REAP).
REAP initiative is first of its kind in the Indian real estate sector and will focus on five technologies namely - Internet of Things; Nano Technology; Cleantech and Renewables; Visual Computing; and Logistics and Supply Chain to begin with in the first year. The new initiative will move to a new premises, located next to District 6, on a 5000 square feet of office space. But it has limited the number of seats to 46 and so it will be a rigorous process for the startups to get selected.
“REAP is being set up with the aim to give real estate innovators and inventors in the country an organised approach to help build sustainable and scaleable businesses,” said Nirupa Shankar, brainchild of this new initiative, and director, Brigade Hospitality services.
The real estate sector is one of the most globally recognised sectors contributing a significant number of jobs and GDP growth. In India, real estate and allied industries are the second largest employers after agriculture and are slated to grow at 30 per cent over the next decade, she adds.
“To keep pace with the ever-changing needs of the business, it is imperative to accelerate the pace of adoption of innovation and disruptive technologies in the industry,” said M R Jaishankar, CMD Brigade Enterprises.
“Brigade REAP has been conceptualised to combine resources within the group, as well as with partners and well-wishers to add value to young companies and help them build innovative and path-breaking companies from India,” he said.
REAP has called for online applications at that opens on August 24, 2016 and closes on September 15, 2016. “All the suitable applications will be screened by a panel of experts and shall go live from October 3,  2016,” adds Jaishankar.

Speaking on the objective of Brigade REAP, John Kuruvilla, Chief Mentor, Brigade REAP said, “At REAP we work on ensuring that innovative ideas are not lost in execution and find the perfect application in the real estate industry”.

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