Real estate firms Jones Lang LaSalle (JLL) and Lendlease have launched a Singapore-based property technology accelerator called Propell Asia with co-working space District6 and creative design incubator MeshMinds.
Propell Asia will select five startups from the region to enter a 10-week accelerator program. They will each be eligible for a S$20,000 ($14,600) grant.
JLL’s technology innovation arm, JLL Spark, created a $100m global corporate venture capital fund earlier this month and will contribute to the pool of grant funding. Anuj Nangpal, lead in Asia Pacific for JLL Spark, will be one of the mentors to the Propell startups.
Participating startups are expected to have products applicable to property management, real estate transactions, construction management and/or data collection, science and analysis, and applications for Propell Asia will be open from June 25 to August 17 this year.
Tony Lombardo, Asia CEO of Lendlease, which set up Lend Lease Ventures towards the end of the last decade under director Aaron Spicer, said: “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.”