JLL, leading real estate and property investment management consultants and Invest India, along with the National Investment Promotion and Facilitation agency, under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, under their Proptech accelerator program, JLL IDEAs brought together India’s leading and emerging property technology companies under one umbrella to conduct the Hackathon at New Delhi and Bengaluru.
JLL IDEAs is a collaboration between JLL and the initiatives housed at Invest India, – Accelerating Growth of New India’s Innovations (AGNIi) and Startup India. AGNIi is the national technology commercialization program, from the Office of the Principal Scientific Adviser to the Govt. of India and Startup India is the government’s flagship initiative to boost the startup ecosystem in the country.
The products showcased included offerings across asset valuation, smart buildings, employee experience, sustainability and a lot more. These offerings encapsulate the elements like Blockchain, AI, Machine Learning, IoT, etc. and aims to empower investors and tenants, drive efficiencies, increase profitability and enhance safety and trust in the real estate sector.
Through the jointly conducted Hackathons, the judges have identified 10 finalists for its final round, planned in Mumbai.
JLL IDEAs is India’s biggest real estate proptech accelerator that will promote startups working on cutting edge, disruptive technologies and solutions impacting developers, investors and occupier clients in the country. The program at the end of the mega contest selects the best startups in real estate and aims to create India’s biggest platform for the convergence of technology in the real estate sector.
Winners of this hackathon will receive awards including potential funding opportunities through JLL Spark, mentorship from real estate leaders, incubation opportunities and client meetings to test and pilot their solutions in a real-world environment. With US$100mn of investment fund, JLL Spark is focused on creating new products, investments and supporting startups in the real estate tech industry.
Ramesh Nair, CEO & Country Head – India, JLL said, “The proptech space is fast evolving, as evidenced at today’s Hackathon, conducted at Bengaluru and New Delhi. We are hopeful that winners of the Hackathon and the final rounds of this mega contest will add immense value to the growth of the sector. I sincerely thank our jury members, partners for their continued support. Along with our partners, Invest India, AGNIi and Startup India, we will continue to work towards promoting the programme in India, making it more meaningful and beneficial for the sector. Today’s contests were an example of our efforts in that direction.”
Juggy Marwaha, Executive Managing Director – India, JLL said, “JLL IDEAs is a platform for technology enablers, game-changers, who wish to change the way real estate activity is carried out in the country. The unique initiative is an amalgamation of youth and experience, brought together to transform the real estate sector and prepare for the future. It is interesting to see that young, energetic entrepreneurs are coming together and ideating on how the real estate sector can be made agile and efficient. This said, companies adopting technology innovation will lead the change along with JLL IDEAs.”
Sandeep Sethi, Managing Director – Corporate Solutions, West Asia, JLL said, “Our homes and workplaces have fast evolved. And technology adoption has a big role to play in this transformation. With end-users spending a significant amount of time in offices and the built environment in general, it is imperative that the real estate sector adopts and embraces technology much faster and offers the required human experience and brings workplace efficiency across the spectrum. Proptech space has the potential to do that for us. And JLL IDEAs is the platform that will continue to work towards this common goal.”
Rahul Nayar, Vice President, AGNI India, Invest India said, “It is AGNIi’s constant endeavor to support India’s technology innovation ecosystem, of which the real estate sector is an important part. We are very happy to collaborate with JLL, which initiated the proptech accelerator program JLL IDEAs. The partnership will help us find and surface exciting new innovation opportunities for futuristic real estate technology initiatives and technology innovators across India.”