CBRE-Nasscom join hands to support tech startups looking to transform real estate

Property consultant CBRE Wednesday said it has tied up with IT industry body Nasscom to identify and support startups that seek to transform Indian real estate sector with technological innovations.

CBRE South Asia Pvt Ltd will conduct a 'Proptech Challenge' in collaboration with the National Association of Software and Services Companies (NASSCOM) that aims to identify budding startups working towards innovating and building technology solutions for the real estate sector.

The collective objective is aimed to support emerging businesses with the potential to transform the real estate market with creative, innovative and disruptive thinking.

Speaking on the initiative, Nasscom Head Membership Srikanth Srinivasan said it is collaborating with CBRE to nurture the real estate segment in the startup ecosystem.

"Creating the next-generation of startups is the need of the hour and this platform will provide opportunities to not only present emerging technologies and innovations but also entry into our 10K start-up ecosystem," he added.

CBRE India Chairman & CEO Anshuman Magazine said: "In a developing economy like India, it is imperative to become tech-ready and encourage businesses working towards transformation that will take the industry to a truly global industry which is tech-ready".

Magazine also heads CBRE's South East Asia, Africa and middle east business.

Startups with an idea and in search for a platform to address a wider audience should participate in this challenge. Entries will be divided into four categories: Real Estate FinTech; Sustainability; Agility and Efficiency and Made For India.

The Nasscom is the premier trade body of the IT-BPM industries in India. It has more than 2,100 members, which include both Indian and MNCs that have a presence in India.

US-based CBRE Group, a Fortune 500 company, said it is the world's largest commercial real estate services and investment firm (based on 2018 revenue). It has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide.

CBRE started Indian operation in 1994 and currently it has more than 8,300 professionals across 10 offices with a presence in over 80 cities in India.