JLL and Lendlease launch Propell Asia
By Digital News Asia June 28, 2018
- The accelerator programme is targeted at early stage start-ups in the region
- Will connect startups to Asia Pacific’s US$16 trillion commercial real estate market
JLL and Lendlease jointly launched Propell Asia, the first Singapore-based regional property technology (proptech) accelerator that will connect startups to Asia Pacific’s commercial real estate market, which was worth US$16 trillion in 2017 and is set to grow to US$19.5 trillion by 2020.
Propell Asia is an industry-first collaboration between JLL and Lendlease, two of the world’s leading and most recognisable international real estate companies.
Together with partners coworking space District6 and creative design incubator MeshMinds, the accelerator programme is targeted at early stage startups in the region with a clearly defined product that can be applied to one of the following categories:
Property management – improve procurement and user experience through predictive maintenance and robotics
Real estate transactions – increase automation to achieve greater efficiency in leasing and sales including use of blockchain technologies
Construction management – disrupt the design and construction of the built environment to enhance safety and productivity outcomes during construction
Data collection, data science and analysis - improve decision-making for occupiers, investors and managers by applying artificial intelligence and machine learning techniques on data that is both internal and external to commercial real estate
Propell Asia aims to select five startups from the region to enter a 10-week programme.
Each of the startups stand to receive a S$20,000 grant, as well as access to reputable mentors comprising real estate industry experts and successful startup founders, among others. Some notable mentors include:
- Julian Kwan, CEO and Co-Founder, InvestaCrowd
- Anthony Chow, CEO, Igloohome
- Joanne Ormandy, CIO, Greater China, JLL
- Anuj Nangpal, JLL Spark, Asia Pacific
- David Hutton, managing director of Development, Lendlease
- Richard Kuppusamy, digital integration manager, Lendlease
- Yuet Whey Siah, Co-founder and CEO, Drea.sg
- Bill Lee, group managing partner, Azendian Solutions
The programme will be based at District6, a co-working space located in Bras Basah, Singapore.
Tony Lombardo, chief executive officer Asia of Lendlease, said: “Propell Asia is purpose-built to provide start-ups with the platform to accelerate their business success. Through our integrated business models and networks, Lendlease and JLL will enable participants to access the entire real estate value chain – including investment, development, construction, brokerage, consulting and facilities management – and opportunities to test and validate their products.”
Albert Ovidi, chief operating officer of JLL Asia Pacific, added: “Through Propell Asia, we want to discover promising start-ups with sustainable and innovative solutions that can transform the real estate industry. Against the backdrop of rapid urbanisation and the rise of smart cities, our industry in Asia Pacific is primed for the next wave of disruption. Data analytics, artificial intelligence, the Internet of Things, virtual reality, blockchain; all of these technologies will play a pivotal role in the evolution of the real estate industry.”
In June 2018, JLL Spark, the technology innovation arm of JLL, announced the creation of a US$100 million global venture fund to invest in companies focused on leveraging technology to improve the real estate experience.
The fund will contribute to the grants for start-ups that are selected to join the Propell Asia programme.
Applications for Propell Asia are open from June 25 to Aug 17, and the accelerator programme for the five successful startups will commence in the third quarter of 2018. For more information about Propell Asia, visit http://www.propellasia.com.