NAREDCO Maharashtra has announced the strengthening of its 'PROPEL' initiative in collaboration with Brigade Real Estate Accelerator Program (REAP), aimed at supporting emerging entrepreneurs in India's rapidly evolving real estate sector. The partnership will provide crucial funding, mentorship, and strategic support to startups in the PropTech space, which is a growing sector in the country.
The PROPEL initiative was showcased at Excelerate 3.0, a premier event focused on advancing innovation and technology in real estate, held on Thursday. Brigade REAP, India’s leading PropTech accelerator, has already incubated 76 startups, the highest number in the country, and operates alongside the Earth Fund, a ₹200 crore venture fund dedicated to PropTech. Together, these entities form India’s largest ecosystem for PropTech startups.
Through this partnership, NAREDCO Maharashtra, with its extensive industry network, will join forces with Brigade REAP’s expertise in scaling up PropTech ventures, offering a robust platform for entrepreneurs to turn their ideas into scalable businesses.
Prashant Sharma, President of NAREDCO Maharashtra, emphasized the importance of innovation in the Indian real estate sector. “India’s real estate industry is at a pivotal juncture, and the need for innovative solutions has never been greater. This collaboration with Brigade REAP ensures that entrepreneurs not only receive the capital they need but also the strategic guidance to succeed in a fast-paced market,” he said.
Rajan Bandelkar, Vice Chairman of NAREDCO, highlighted the broader vision of the PROPEL initiative. “PROPEL is designed to cultivate an ecosystem that promotes creativity, sustainability, and advanced solutions to address the challenges of urbanization. By partnering with Brigade REAP, we can offer both funding and expert guidance to startups, empowering them to tackle the emerging opportunities and challenges in the real estate sector,” Bandelkar noted.
Ridham Gada, President of NAREDCO NextGen Maharashtra, expressed enthusiasm about the collaboration, saying, “We are excited to strengthen the PROPEL initiative by joining hands with Brigade REAP. Their pioneering efforts in advancing PropTech innovation in India align with our goal of accelerating disruptive technologies in the real estate space.”
The Excelerate 3.0 event, where PROPEL was prominently featured, attracted industry leaders from real estate, technology, and startup sectors. The event explored emerging trends in smart cities, sustainability, artificial intelligence, and more, providing a platform for startups to pitch their ideas, gain visibility, and secure potential investments from Brigade REAP and other investors.
This strengthened collaboration between NAREDCO Maharashtra and Brigade REAP is expected to play a pivotal role in shaping the future of PropTech in India and driving the next wave of technological advancements in real estate.
