Toronto’s real-estate market is about to experience some much-needed innovation.
Colliers International Group has announced the launch of their Colliers Proptech Accelerator, powered by Techstars (proptech = property tech). Colliers is a world leader in commercial real estate services while Techstars is an instantly recognizable name in the tech startup incubator ecosystem with more than 15 accelerators currently accepting applications around the world.
Selected startups will be hosted in Toronto at the Colliers Canada headquarters and enter an intensive 13-week program focused on developing and accelerating tech-driven solutions. Applications will open up on February 19 and close May 13.
“The Colliers Proptech Accelerator powered by Techstars will provide us with early insight into companies and technologies that have the potential to deliver value-enhancing strategies to our clients and better arming our professionals to execute,” said Jay Hennick, Colliers chairman and CEO. “Combining Techstars’ record of success with new technologies and Colliers’ leading market knowledge and global platform in real estate ensures we remain at the forefront of innovation.
The proptech accelerator will allow for Colliers to solicit and shape new ideas in the real estate space, then potentially invest in them if they make sense on a larger scale. The program will identify and mentor startups around the globe that are developing industry-disrupting tech and look to foster those ideas with input from one of the largest property companies in the world.
“Techstars is the worldwide platform that exists to help entrepreneurs succeed. Our cultural alignment with Colliers and ability to leverage its expertise and global platform create a one-of-a-kind partnership in the real estate services industry,” said David Brown, founder and co-CEO of Techstars. “The Proptech startups selected for this program will create deep connections with Colliers’ industry experts worldwide while allowing them to accelerate their growth and business success in the future.”
Techstars announced the launch of their Toronto program in March 2017 and has since found a home at the massive WeWork building in central downtown. The collaboration between the accelerator and the shared space provider means funders and startups can routinely rub shoulders and talk about new opportunities.