Propell Asia handpicks five proptech start-ups that have potential to transform Asia’s real estate industry
JLL and Lendlease announce start-ups that will join Propell Asia, an accelerator programme that aims to uncover the next Asian proptech unicorn
SINGAPORE, 4 September 2018 – JLL and Lendlease, two of the world’s leading international real estate companies, today unveiled the five start-ups that have been selected for the first Singapore-based regional property technology (“proptech”) accelerator. Announced in June this year, Propell Asia is an industry-first collaboration between JLL and Lendlease.
The programme received many applications from start-ups across Asia, and the eventual five selected were early stage companies chosen based on the commercial viability and scalability of their idea, as well as each team’s strength and technical competency. The chosen start-ups offer a good mix of solutions for office and leasing, construction productivity, facilities management and Internet of things (IoT) platforms.
The five start-ups chosen for the Propell Asia accelerator programme are:
- GorillaSpace: an online marketplace for flexible and long-term workspaces. For individuals and businesses, the platform provides tools that enables them to find workspaces quickly and to make better decisions based on transparent information. For workspace owners, the platform enables them to manage their inventory much more efficiently.
- Lauretta.io: a proptech start-up that uses AI to automate the facilities management process. By applying machine learning to the management of physical infrastructure and manpower resources, property managers can transform their role from operators to service providers, to ultimately enhance the value and security of the facilities under their management.
- Logfront: an IoT-powered facilities management platform that provides the tools and intelligence to improve service provision and reduce costs. Using sensor analytics and machine learning, Logfront monitors the usage patterns of a facility and optimises maintenance frequency and deployment of field service workers.
- Nucon: an intelligence engine specially tailored for the construction industry. Nucon provides machine learning services such as context-aware image analysis, speech recognition, dynamic translation, and conversational experiences. Its platform-as-a-service model provides businesses a building block for data analytics and modern applications.
- Talox: a Software-as-a-service (SaaS) leasing and asset management platform designed primarily for landlords and agents of commercial real estate. By digitising and automating the entire workflow of leasing corporate office spaces, Talox enables landlords to use the captured data to improve the performance and profitability of their assets, and agents to provide more proactive leasing representation and faster deal execution.
“Lendlease is looking forward to having these dynamic start-ups that are passionate about transforming the proptech industry in our region. Their diversity will bring innovative ideas and use cases to the field of real estate,” said Tony Lombardo, Chief Executive Officer Asia of Lendlease. “Our goal is to help unlock their potential and provide an accelerated pathway for them to validate, commercialise and scale their solutions.”
Albert Ovidi, Chief Operating Officer of JLL Asia Pacific, said, “JLL brings a regional network of 96 offices in 16 countries in Asia Pacific, and our recently established JLL Spark Global Venture Fund will take a special interest in nurturing the next proptech game-changer in the region. Our partnership with Lendlease makes Propell Asia a particularly compelling opportunity for start-ups to access the entire real estate value chain – including investment, development, construction, brokerage, consulting and facilities and property management – and opportunities to test and validate their products.”
The accelerator will be based at District6, a co-working space located in Bras Basah, Singapore. There, the teams will undergo a ten-week fast-track learning programme customised to the maturity and property focus of each start-up. The programme will focus on real estate industry immersion and give start-ups access to a range of mentors who will work with them to develop relevant business skills from planning to product, and strategy to execution. The final stages of the accelerator programme will see the start-ups refining their minimum viable products and conducting Proofs of Concept. It will culminate in a demo day where each start-up will present their product to a carefully assembled panel of real estate experts, investors and media.
“The diverse real estate systems in each country are a real challenge for start-ups, so I’m glad that JLL and Lendlease are bringing their ecosystems together, along with committed mentors, to offer guidance and expertise,” said Anthony Chow, co-founder and CEO of Igloohome, one of the mentors of the programme. “With Propell Asia, start-ups will be able to leverage these collective resources to get a leg up in the growing proptech scene in Asia.”
-- END --
Full list of mentors
- Julian Kwan, CEO and Co-Founder, InvestaCrowd
- Anthony Chow, co-founder and 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
- Vikas Kaushal, Head of Strategy & International Business, Foyr
- Steve Melhuish, Co-founder and Vice Chairman, PropertyGuru Group
- Magnus Ekbom, Chief Strategy Officer, Lazada Group
- Stephanie Chai, CEO and Founder, TheLuxeNomad.com
- Craig Hewett, Co-Founder and COO, Wego
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Lendlease (ASX: LLC) is a leading international property and infrastructure group with operations in Australia, Asia, Europe and the Americas. Our vision is to create the best places; places that inspire and enrich the lives of people around the world. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 13,238 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers. We are known as 联实 in Chinese. For more information, please visit: www.lendlease.com.
District6 is a newly opened co-working space in the heart of Singapore, near City Hall MRT. District6 is centered around the idea that collaborative thinking leads to a better society. We want District6 to be the place where those who aspire to redesign the urban landscape - the world we eat, breathe, sleep, work and play in - come together to do great work for the coming generations.
To contact Propell Asia:
Hongda Tee/ Redzuan Samad
+65 6603 9000