Brigade Reap, CIIC Sign MoU to Promote Startups in the PropTech Sector

Brigade Reap and Crescent Innovation and Incubation Council at the signing of MoU to promote Startups in Proptech Sector

Brigade REAP, Asia’s first real estate accelerator programme, has entered into a Memorandum of Understanding (MOU) with Crescent Innovation and Incubation Council (CIIC), a renowned academic institution based in Chennai to foster research and the development of start-ups in the field of Proptech. 

Through this MoU, Brigade REAP will be responsible for introducing the concept of Proptech to CIIC’s students and faculty through webinars, hackathons and other activities. CIIC will provide Brigade REAP with access to startups, students, their faculty and related facilities. 

The aim of the MoU is to identify at least three promising ideas in the Proptech space which can be scaled into promising businesses.

Commenting on the development, Nirupa Shankar, Executive Director, Brigade Enterprises Ltd., said -

The Indian real estate sector is slated to reach USD 1 trillion by 2030 and is expected to contribute around 13 percent to India’s GDP by 2025. Rapid urbanization driven by a fast growing, young demographic middle class and a gradually consolidating real estate scenario are some of the factors that are powering the growth and promising a vibrant future for Proptech in India. We feel that it is the right time to identify startups at the grassroot level itself and provide them with the required mentorship and assistance for go-to-market and further scaling of their businesses. CIIC’s focus on disruptive technologies has been one of the main reasons for us to partner with them.

As part of the MoU, Brigade REAP will identify and provide accelerator support to start-ups which have the product and the ability to scale into successful companies. Once a start-up is onboarded on the Accelerator Program, Brigade shall provide mentorship, assistance with designing and developing a business model, pricing, customer onboarding and various other services. 

CIIC on its part will provide Brigade with access to students and provide access to the laboratory, library and other facilities. CIIC will also share with Brigade REAP, research papers and other research related material, case studies and other studies which has been developed by the students and faculty.

During the one-year term of this MoU, Brigade REAP and CIIC will collaborate and discuss further ways in which the combined objective of fostering the growth of the Proptech sector can be achieved.

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