Real Estate Tech Fund: Nila Spaces Launches USD 1M VisionX Program
Dec 19, 2023 15:22
Nila Spaces, a realty firm, launches a USD 1 million fund to support prop-tech startups through a 12-week accelerator program, providing mentorship and access to the prop-tech ecosystem.
New Delhi, Dec 19 (PTI) Realty firm Nila Spaces on Tuesday said it has set up a USD 1-million fund to support technology startups in the real estate sector.
In a statement, Ahmedabad-based Nila Spaces said it has started a VisionX Program, an initiative with a commitment of USD 1 million dedicated to prop-tech startups.
Managed by Awfficacy Capital, VisionX is a 12-week rolling accelerator programme tailored to nurture and elevate early-stage prop-tech startups.
Participants will benefit from personalised mentorship, access to the prop-tech ecosystem and immersive sessions on business development and investor readiness.
To become eligible for participation, startups must be at seed-stage or early-stage, demonstrate innovation in their product or service, possess high growth potential and scalability, and having committed to actively engaging with mentors, advisors, and the prop-tech ecosystem at large.
Deep Vadodaria, CEO of Nila Spaces, said, "In today's real estate evolution, innovation is a necessity, not a choice. The VisionX Program is our commitment to propel prop-tech startups, providing capital, mentorship, and a sustainable ethos -- an investment in the future of real estate innovation and the promotion of entrepreneurship in the Indian youth."
Realtors' bodies CREDAI and NAREDCO have also started prop-tech funds to support startups.
Real estate developer Brigade Enterprises and property consultant CBRE are also running programmes to support such startups.
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