NEW DELHI: Real estate consulting firm CBRE South Asia today announced the ‘BIGGEST PROPTECH CHALLENGE’ in collaboration with the National Association of Software and Services Companies (NASSCOM).
The NASSCOM-CBRE ‘PROPTECH CHALLENGE’ aims to identify budding start-ups working towards innovating and building technology solutions for the real estate sector. The collective objective is aimed to support emerging businesses with the potential to transform the Real Estate market with creative, innovative and disruptive thinking.
Speaking on the initiative, Srikanth Srinivasan, Head Membership, NASSCOM said, “We are excited to be collaborating with CBRE to nurture the real estate segment in the Indian startup ecosystem. Creating the next-generation of start-ups is the need of the hour and this platform will provide opportunities to not only present emerging technologies and innovations but also entry into our 10K start-up ecosystem”.
Speaking on the initiative, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE, said, “We are thrilled to start such an initiative in the real estate market the supports concepts working towards disrupting the commercial real estate space. In a developing economy like India, it is imperative to become tech ready and encourage businesses working towards transformation that will take the industry to a truly global industry which is tech ready”.
A recent survey by CBRE highlights the rapid pace at which digitization is taking precedence across the sector. More than 90% of the occupiers and developers are aiming to bring a technological shift in their business operations within the next five years. Digitization has resulted in a more coherent relationship between developers and occupiers; the former is fine tuning their strategies to be in line with occupier’s expectations on technology and infrastructure. Cost efficiency has remained as a major aspect in improving processes and business efficiency.
Start-Ups with an idea and in search for a platform to present to a wider audience with the change for incubation should be looking at participating. Entries for the challenge will be divided into four categories: REAL ESTATE FinTech; SUSTAINABILITY; AGILITY AND EFFICIENCY and MADE FOR INDIA (solutions tailored specifically for the Indian market).