Propell Asia Concludes: What’s Next for the Start-Ups?
Selected start-ups finish the 10-week programme, hope to invigorate Asia’s real estate industry
JLL and Lendlease have concluded Propell Asia, the first Singapore-based regional property technology ("proptech") accelerator. The programme, an industry-first collaboration between JLL and Lendlease, nurtured five start-ups as they validated their products during a ten-week, fast-track learning experience. The Singapore-based start-ups that completed the programme are: GorillaSpace.co, Lauretta.io, Logfront, Nucon.io and Talox.
"Propell Asia is the second accelerator we have participated in. What sets it apart is the high level of commitment to our success from JLL and Lendlease. I've had access to people at all levels of the organisation – from general managers piloting our products to the CEOs and CFOs looking at long-term investments. Their commitment was unwavering and their speed to test our products within Lendlease malls made all the difference in developing our product even further," said Galvin Widjaja, Chief Executive Officer of Lauretta.io.
The completion of the programme is just the beginning for these start-ups, who are all passionate about transforming the property industry in the region. Here's what's next for them:
GorillaSpace.co: a marketplace for workspace, is the first platform that offers both flexible space options and long-term office spaces. It gives businesses choice at all stages of their growth. After the Propell Asia accelerator, GorillaSpace is now planning with Lendlease to market one of Singapore's largest mixed-use developments at Paya Lebar Quarter and is in discussions with JLL around the potential to market smaller office spaces. GorillaSpace is currently finalising seed investment and will use this fresh capital to rollout new features and to expand in the region.
Lauretta.io: a platform for autonomous property management that uses intelligent cameras and sensors to orchestrate customer, service and maintenance events. The accelerator has raised the profile of Lauretta.io allowing it to push for larger implementations of its products across key buildings in Singapore. As a result of Propell Asia, the team was able to conduct trials at 313@somerset and Jem, which provided a valuable testbed for its solutions. In 2019, it aims to become a meaningful player in the future of property and facilities management.
Logfront: an IoT powered maintenance platform that monitors assets to improve asset uptime and worker productivity. During the programme, Logfront conducted a trial at Lendlease's Parkway Parade and worked closely with Lendlease's Head of Property to better understand industry needs. Logfront plans to start raising seed funding in January 2019 to accelerate the development of its proprietary sensors.
Nucon.io: an AI engine that turns issue reports into organizational learnings within construction businesses. During Propell Asia, Nucon focused on customer discovery, and worked with JLL and Lendlease to refine its strategy tailored to customer feedback. Nucon has successfully launched its AI site assistant for issue capture with users across Asia, predominantly in Singapore. The company officially launched in week one and had secured its first client by week six. Nucon is looking to collaborate with other quality champions to co-develop its defect prevention technologies.
Talox: a cloud-based real estate platform that improves commercial leasing and asset management workflows and data analytics. It has more than 10 million square-feet of space online in the Philippines and Indonesia, and now post-Propell the company is launching in Singapore with Lendlease at Paya Lebar Quarter. In 2019, Talox plans to enter the Hong Kong market and raise seed funding to further scale up the business. It will also continue to strengthen its relationships with industry organisations like RICS and ULI and create awareness about proptech.
Partnering with coworking space, The Company Singapore (previously known as District 6 before a recent acquisition), and creative innovation specialists, MeshMinds, the accelerator programme was customised to the maturity and property focus of each start-up. The start-ups were immersed in the real estate industry, with real estate experts and mentors working with them to develop general business skills from planning to product, strategy to execution.
One of the mentors, Steve Melhuish, Co-founder of PropertyGuru Group, South East Asia's leading online proptech firm used by 25 million consumers monthly to find their dream home, said, "The start-ups showed an open approach, willingness to listen and accept input, and bounced around problems and solutions. This flexibility is the key to building a successful business. I was impressed with their pitches on the final day – confident, clear, slick and polished."
"Lendlease and JLL are on the lookout for technologies that could potentially help create better places, deliver the best customer experience and drive most efficient processes in the real estate industry," said Tony Lombardo, Chief Executive Officer Asia of Lendlease.
Albert Ovidi, Chief Operating Officer of JLL Asia Pacific, said, "Future editions of the Propell Asia accelerator programme are currently in the works. JLL and Lendlease are committed to continuing to engage with the start-up ecosystem in Singapore and across Asia."
+++ END +++
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.
The Company Singapore
Formerly known as District6, The Company Singapore is a confluence of the real estate and proptech industries in Singapore, and now part of a large network of co working spaces that span several countries, in locations such as Fukuoka, Honolulu, Cebu and Bangkok. Located at the very heart of the Central Business District in Singapore and occupying the second floor of Odeon Towers, it is just a stone's throw away from City Hall MRT Interchange and opposite the Iconic Raffles Hotel.
MeshMinds specialises in designing creative innovation accelerators that focus on emerging technology for large multinational companies. Headquartered in Singapore, team members include experts covering VR, AR, 3D printing, IoT and AI, working with creators on ideas to drive the sustainable development of people and our planet.
To contact Propell Asia:
Hongda Tee/ Redzuan Samad
+65 6603 9000