Latest News | Strawcture, Enlite & SuperBolter Top 3 Startups in Proptech Challenge by CBRE-nasscom
Get latest articles and stories on Latest News at LatestLY. Startup Strawcture, which makes building materials from crop residues, has emerged as the winner in a PropTech challenge organised by property consultant CBRE in partnership with nasscom.
New Delhi, Oct 31 (PTI) Startup Strawcture, which makes building materials from crop residues, has emerged as the winner in a PropTech challenge organised by property consultant CBRE in partnership with nasscom.
Mumbai-based Enlite, which is disrupting the building management system, has emerged as the first runner-up, while Bengaluru-based SuperBolter, which is a platform for interior design, became the second runner-up.
About 400 startups from 45 cities participated in the second edition of PropTech challenge 'DISRUPTECH 2.0', organised by CBRE in partnership with nasscom startups, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE, told reporters here.
A distinguished panel of industry veterans and experts evaluated the top 11 stellar finalists, out of which the top three winners were selected.
Magazine said these three startups will get support in three broad areas -- securing funding, mentorship and access to those companies that will be requiring these new-age technologies.
He noted that the adoption of technology in the real estate sector has accelerated in the last few years, driven by disruptions caused by the COVID-19 pandemic.
"In the next 7-8 years, the proptech market is estimated to touch USD 1 trillion," Magazine said but did not share the current size of the Indian proptech market.
The entries for the challenge were divided into categories focused on ESG, Fintech, construction technology, and indigenous tech for the local market.
"DISRUPTECH 2.0 epitomizes our unwavering commitment to fostering PropTech in India and propelling the realty sector towards a globally resonant future. It reflects CBRE's dedication to a tech-savvy and future-ready real estate industry," Magazine said.
CBRE said that the winners will be entitled to rewards and recognition, including access to real estate angel funding, participation in the CBRE Global Startup programme, opportunities for proof of concept (POC) collaborations with CBRE clients, access to the nasscom startup ecosystem, mentorship with experienced investors, and valuable marketing support from CBRE Advisory.
The platform's primary objective is to identify, mentor, and develop the best technology solutions that will enable the Indian real estate industry to take a quantum leap over the coming years, the consultant added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)