NAREDCO Maharashtra NextGen has joined forces with the Brigade Real Estate Accelerator Program (REAP) to enhance the PROPEL initiative, a platform designed to support new entrepreneurs in India’s real estate sector. This partnership combines NAREDCO’s extensive industry network with Brigade REAP’s experience in scaling PropTech startups, aiming to create a solid foundation for innovation and development in real estate.
The collaboration will be highlighted at Excelerate 3.0, an event focused on technology and innovation in real estate, scheduled for November 14, 2024, at Hotel Sahara Star, Mumbai.
Brigade REAP, a prominent accelerator in India’s PropTech space, has incubated 76 startups, the highest count in the country. Its Earth Fund, a ₹200 crore venture fund, also supports the nation’s largest PropTech innovation ecosystem. Through this partnership, PROPEL intends to equip the next wave of entrepreneurs with essential resources, including mentorship, funding, and strategic insights.
According to Prashant Sharma, President of NAREDCO Maharashtra, this partnership comes at a pivotal time for India’s real estate market. “The demand for innovation in India’s real estate sector is greater than ever. By working with Brigade REAP, we are giving emerging entrepreneurs access to capital and the strategic support necessary to thrive in this competitive field.”
Rajan Bandelkar, Vice Chairman of NAREDCO, emphasized PROPEL’s mission to shape the future of urban development. “PROPEL aims to build an ecosystem that promotes creativity, sustainability, and advanced solutions to address urbanization challenges. Brigade REAP’s involvement provides both financial and strategic support, helping startups meet evolving real estate demands.”
Ridham Gada, President of NAREDCO NextGen Maharashtra, shared his enthusiasm for the partnership. “We are excited to expand PROPEL in collaboration with Brigade REAP. Their leadership in PropTech innovation aligns with our vision of accelerating disruptive technologies in real estate.”
At Excelerate 3.0, PROPEL will serve as a key highlight, offering participants a platform to pitch their ideas, gain visibility, and attract funding from investors connected to Brigade REAP. The event will include sessions on smart cities, sustainability, and the role of AI in real estate.
Through this collaboration, PROPEL seeks to provide startups with mentorship from industry experts, funding opportunities, and access to a network of investors, developers, and stakeholders. Brigade REAP’s expertise will also deliver market insights, investment access, and guidance from seasoned mentors, positioning startups for swift and sustainable growth.
This initiative by NAREDCO Maharashtra NextGen and Brigade REAP emphasizes a commitment to innovation, positioning India as a growing hub for real estate technology and sustainable urban development. As the PropTech ecosystem in India expands, PROPEL is set to play an essential role in fostering innovation within the sector.
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By Proptechbuzz
By Ravi Kumar
