Looks like it is time for EdTech and FinTech start-ups to make way for PropTech. The industry caught much attention earlier this year, when NoBroker became the first PropTech unicorn (in a span of seven years, which is a small gap in the start-up world). Now, Brigade REAP, Asia’s first real estate accelerator programme, has entered into a Memorandum of Understanding (MoU) with Crescent Innovation and Incubation Council (CIIC), the business incubator based of BS Abdur Rahman Crescent Institute of Science and Technology (BSACIST), Chennai to foster research and the development of start-ups in the field.
The MoU was signed on Friday, December 17 and says that CIIC will provide Brigade REAP with access to startups, students, faculties and related stakeholders. Speaking at the event, Arif Buhary Rahman, the Chancellor and one of the Director’s of CIIC said, ""Our motive is to create more interpreters in rural areas and cover agro-marine industries in the whole of South." He also stressed on why more investment and research has to be made in the area, considering pollution and the depletion of natural resources.
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Commenting on the MoU, Nirupa Shankar, Executive Director, Brigade Enterprises Ltd said, “The Indian real estate sector is slated to reach $1 trillion by 2030 and is expected to contribute around 13 percent to India’s GDP by 2025. Rapid urbanisation 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. CIIC also announced a propathon, a hackathon for PropTech projects for its students, early in
