Bangalore, August 24th, 2016: Brigade Group, one of India’s leading real estate developers has announced the launch of its latest initiative - Brigade Real Estate Accelerator Program (REAP). A brainchild of Nirupa Shankar, Director, Brigade Hospitality and daughter of Brigade Group’s Chairman Mr. M. R. Jaishankar, Brigade REAP is the first initiative of its kind in India, set up with the aim to give innovators and inventors in India, in sectors relevant to real estate, an organized approach to help build sustainable and scalable businesses.
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 is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade.
A report by the Indian Brand Equity Foundation (IBEF) says that the Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6% to the country's Gross Domestic Product (GDP). Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs.
Speaking on the subject, Mr. M. R. Jaishankar, Chairman and Managing Director, Brigade Group, said, “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. 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.”
A vastly untapped and isolated range of work lies in sectors such as (IoT), Big Data, VR/AR, Nanotechnology, Cleantech & renewable technology, Visual Computing, Supply Chain & logistics. The Brigade REAP has focus on these sectors in partnership with industry leaders to create a structured program that, mentors a pool of high quality tech focused start-ups adding value to the real estate industry at large. The 6 key pillars of engagement with young companies will be:
• Product Development
• Technology road map
• People Strategy
• Go-to-market Strategy
• Marketing, Branding, PR Strategy
• Investment Readiness
The strength of REAP lies in its straight-forward approach to streamlining the business potential of an innovation, with on-ground challenges and realities. Its mentor list includes a veritable who’s who from the corporate, start-up and investment.
Speaking on the launch of Brigade REAP, Nirupa Shankar said, “The purpose of this program is to help bring about exponential operating efficiencies not only to our business but the industry at large. The accelerator will give young companies access to deep domain knowledge in the real estate sector and the focus to solve real, on-ground issues that plague the industry.”
Speaking on the program construct, Apul Nahata, Mentor-in-Residence, Brigade REAP said, “The objective of the program is to help young companies scale in size and market their product/service in a more effective manner. We have been able to get Industry leaders from across sectors and disciplines including from within the Brigade group to spare their valuable time in helping these young companies succeed.”
Applications are solicited into the program from young companies with the following criteria:
• Minimum 2 promoters with impeccable credentials
• Angel funding/seed investment a must
• Must have customer traction
• Must have a revenue stream
• Strong technology play
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”.
Key Highlights of Brigade REAP
· Initiated by a veteran innovator in the field of real estate – The Brigade Group
· The first accelerator program with efforts focused on innovation in the Real Estate sector, relatively untouched by innovation
· Mentors who have been game-changers in their respective fields for interaction. (Please visit www.brigadereap.com for details)
· Bridging the gap between isolated efforts in innovation across various fields of real estate by bringing in the vast domain expertise available within Brigade Group across Residential, Commercial, Retail and Hospitality verticals.
· Providing a structured program that ensures acceleration towards success based on strengths.
There have been several innovations across the world and some in India in the field of construction, real estate and infrastructure. The endeavour at Brigade REAP is to provide young companies in India with innovations and inventions relevant to the Real Estate industry with the required resources and tools to build and scale successful companies.
What sectors will Brigade REAP focus on?
The sectors in focus at this point in time are those where technology and innovation can deliver significant impact to the Real Estate, Retail and Hospitality domains.
Startups with innovative and disruptive technology solutions for the following sectors should apply:
1. IoT -Internet of Things – Smart homes, Smart communities, Smart cities, Home Automation, Building Management Systems (BMS), Analytics & Enterprise Data Management, Construction Management etc.
2. Nano Technology – Nano Tech advancements to make lighter structures, stronger concrete composites, Energy efficient glasses, Self-cleaning paints etc
3. Cleantech and Renewables – Alternate energy, improved technology for higher efficiencies, Waste & Water Management etc.
4. Visual computing – Facial recognition, Video security & surveillance, Video analytics, Augmented Reality & Virtual Reality etc.
5. Logistics - To address issues faced in logistics and supply chain, improve efficiency etc.
What is the duration of the program?
· The program structure has been created post discussions with Startups, Industry leaders and corporates. It is a highly interactive program of 4 months and will help young companies identify key issues and challenges and help them address the same in a tangible and sustainable manner. It is imperative that members of the team attend every session that has been painstakingly created by the team and involves valuable time from very senior and seasoned mentors who have agreed to devote their time in their pursuit to help add value to each one of you.
What are the benefits for a Startup in the program?
· All efforts will be focused on providing tools and resources to help a startup address issues and challenges that will help them scale, including but not limited to:
1. Office space: A fully functional state of the art office space at Brigade Gateway. Including co-working space at different locations in Bangalore, Chennai and Hyderabad.
2. Mentorship: Based on individual company requirements mentors will be identified who will be able to help guide a company or an individual through specific issues relevant to a specific industry and/or the company
3. Guest Faculty: Guest faculty have been identified to come and share insights and experiences that will be of help to the company and team
4. Other resources: Support will be provided from companies in specific areas like Legal, HR, Finance, and Tax.
5. POCs and Test beds: Leaders at Brigade group including other Industry leaders have offered to spend time to help validate products and services and where possible, offer to test products in a ‘beta environment’. Having said this it is imperative for a Startup to showcase its differentiation and value add to be able to catch the attention of such domain experts.
6. Partnerships: are underway with academia and global technology companies to help identify trends, issues and challenges and help when Startups hit a ‘wall’.
What are the timelines?
· Applications are open from 24th August. 2016 and will close on the 15th of September 2016
· An initial screening through presentations and telephonic calls will happen parallel
· Between 20th – 25th of September, 2016 shortlisted companies will need to come for a face-to- face meeting with the selection team comprising of leading investors from the venture community, corporates and a team from Brigade.
· The program will commence early October, 2016.
About Brigade Group
Innovation is a core value for Brigade Group. The company has always been at the forefront of innovation in the fields of real estate, retail, hospitality and education for the last 30 years. Some of its pioneering works have been:
• Developed Brigade Towers, the tallest building built by a private developer in Bangalore, completed in 1990. The Record was broken only in 2002
• Entering the Hospitality Sector with Brigade Homestead Serviced Residences in the year 2000. It was the 1st chain of professionally managed serviced apartments in Bangalore
• Created Brigade Gateway, the most integrated mixed use enclave in the country. With the 2nd largest mall in Bangalore, largest multiplex in the city, school, hospital, man-made lake etc.
• Launched the World Trade Centre in Bangalore in 2010, the first privately owned WTC in India. 2nd WTC in the country and South India’s tallest commercial building
• Brigade Group has recently been selected as one of India’s Top Builders for 2016 at the Construction World Architect and Builder (CWAB) Awards.