The real estate giant and Invest India, the Indian government’s investment agency, have launched what they claim to be the country’s largest real estate accelerator.
JLL IDEAs is targeted at early stage startups and individuals, with a solution for impacting real estate scenarios such as asset valuation, smart buildings, employee experience, sustainability, and those working on technologies such as Blockchain, AI, Machine Learning, and IoT.
The programme will run hackathons and challenges to select the best startups in real estate, with an aim to create India’s biggest platform for the merging of technology in real estate.
Ramesh Nair, CEO and country head of JLL India said: “The proptech space offers limitless opportunities in India and is the single biggest lever to benefit millions of consumers, end users and occupiers alike. This JLL initiative will bring together the industry to better understand how to utilise the latest innovations to better service our clients whilst advancing the sectors in which we work.”
Winners of the hackathons will receive awards including potential funding opportunities through JLL’s $100m investment fund JLL Spark, mentorship from real estate leaders, incubation opportunities and client meetings to test and pilot their solutions in a real-world environment. Applications for the first hackathon opened on 23 August.
Deepak Bagla, managing director and CEO of Invest India, said: “India is now the 2nd largest startup ecosystem in the world. With a clear focus to promote innovation in the country, it is the right time for industry to come forward and be a part of the New India story.”