Toronto, Canada, July 05, 2022 (GLOBE NEWSWIRE) -- Today, the DMZ and GroundBreak Ventures launch applications for a specialized PropTech incubator, fuelling the potential for startups to redefine the real estate sector and build high-impact, world-class enterprises.
At the intersection of real estate and technology, companies focused in property technology (PropTech) are tackling some of the world’s biggest challenges: providing solutions that combat the housing affordability crisis, helping institutions design, build and manage healthier homes, buildings and critical infrastructure, and solving property teams’ sustainability goals, among a myriad of other pressing issues felt globally.
A select group of high-potential startups will represent the program’s first cohort beginning in September and will receive customized growth support from the DMZ and GroundBreak Ventures over the course of 18 months. Startups accepted into the program receive $25,000 in grant funding, dedicated office space in the heart of downtown Toronto, 60+ hours of one-on-one mentorship time from in-house subject matter experts and support with fundraising strategies, including introductions to investors from GroundBreak Ventures and the DMZ. To join the competitive program, founders must apply for the PropTech stream within the DMZ’s Incubator by August 14, 2022.
Global investment activity in property technology startups is steadily on the rise, presenting hungry startup founders with a timely opportunity to secure venture funding and rapidly scale their company. “We’re seeing the real estate sector face a historic boom. Not only is PropTech a hot market for startups to tap into investment capital, but new ventures in the industry are driving meaningful impact to promote safe, inclusive, efficient and sustainable systems in Canada and beyond,” explained Sherif El-Tawil, the DMZ’s Senior Director of Programs and Partnerships. “Together with Ground Break Ventures, we look forward to supporting PropTech startups who are solving critical gaps within the sector.”
"We're excited to collaborate with the entire DMZ team on this new stream,” shared Scott Kaplanis, Managing Partner at GroundBreak Ventures. “Real estate is a multi-trillion dollar asset class that's still being managed by outdated systems globally, meaning there's a huge opportunity for PropTech companies to help the sector innovate by developing solutions that curb the affordability crisis, build better communities, align with work-from-home demands, and combat the climate crisis. We hope to offer entrepreneurs a unique lens into both industry pain points and opportunities."
Startups with tech-enabled products who are solving compelling problems in real estate and are interested in learning more about the DMZ’s PropTech stream can visit dmz.to/proptech. Applications are open until August 14, 2022 at 11:59 p.m. EST.
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About the DMZ:
The DMZ is a world-leading startup incubator equipping the next generation of tech entrepreneurs with the tools needed to build, launch, and scale highly impactful startups. By providing connections to customers, coaching, capital, and a community, the DMZ’s customized approach helps innovators reach the next milestone in their entrepreneurial journey – whatever that might be. Through its award-winning programming, the DMZ has helped more than 720 startups raise $1.75 billion in capital and create 4,600+ jobs. Headquartered in Toronto, Canada with globally-accessible programming, the DMZ has a widely-recognized international presence with offices in Vietnam and India, and partnerships across North America, Latin America, Africa and Asia.
About GroundBreak Ventures:
We back exceptional entrepreneurs that are changing the way we live and work.
GroundBreak Ventures™ is a venture capital firm specializing in real estate and property technology. We invest as early as the pre-seed stage, and provide both the capital and the domain expertise necessary to support the growth of our entrepreneurs, and the businesses they work tirelessly to build. Our firm is based in Toronto and supported by Hopewell®, a multifaceted real estate organization with operations in Toronto, Vancouver, Calgary, Edmonton, Winnipeg and Arizona. Over its nearly 40- year history, Hopewell® has built extensive industry networks and deep expertise in residential and commercial development, homebuilding, property management and logistics. The company has embraced innovation; a willingness to adopt new technology is a key differentiator in its approach to business.
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