1. WHY IS THE BRIGADE GROUP INVESTING IN AN ACCELERATOR PROGRAM THAT IS TECHNOLOGY FOCUSED?
The real estate sector is one of the most globally recognized sectors contributing not just much needed Commercial and Residential spaces but also significant number of jobs. In India, real estate is the second largest employer after agriculture and is slated to grow at 30% over the next decade.
The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6% to the country's Gross Domestic Product (GDP). Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs.
But to keep pace with the ever changing needs of the customers, it is imperative for the industry to accelerate its pace of adoption of Innovation and disruptive technologies. This cannot be done by one company alone and like with other industries and companies globally, we at Brigade (http://brigadegroup.com) believe that by collaborating and working with young companies it will benefit the industry at large.
Innovation is a core value for the group and a focus area for the Leadership team, amply demonstrated in several initiatives across disciplines. The purpose of the accelerator is for Brigade to continue to help foster innovation in the industry by, leveraging the company's strengths which are:
These strengths can be exploited in a collaborative model delivered through the accelerator program with partnerships with several young innovative companies.
2. What sectors will you be focusing on?
The sectors in focus are those where technology and innovation can deliver significant impact to the Real Estate, Retail and Hospitality industries.
1. IoT - Internet of Things : Internet of Things: Smart homes, Smart communities, smart cities, home automation, building management systems (BMS), analytics & enterprise data management construction management and improved technology to create greater operating efficiency.
2. Cleantech and Renewables: Alternate energy, waste & water management
3. Nano Technology : Nano Tech advancements to make lighter structures, stronger concrete composites, energy efficient glasses and self-cleaning paints & many such advancements
4. Visual computing : Facial recognition, video security & surveillance, video analytics, augmented reality & virtual reality
5. Logistics & Supply Chain : To address issues faced in logistics and supply chain, improve operating efficiencies
3. What do you look for in a startup?
We are looking for innovative and disruptive companies using technology to address problems faced by the Residential Office, Retail and Hospitality industry in India. Needless to add, the credential and pedigree of the founders will play a key role coupled with the track-record and stage of the company.
4. What benefits will you provide my company?
We will do our best to provide you with the tools and resources that will help you address issues and challenges for your company to scale. Including but not limited to:
1) Office space: Fully functional meeting rooms will be available at Bangalore, Chennai and Hyderabad for all kind of meetings to be held by the startups on a need basis.
2) Mentorship: Based on individual company requirements we will identify mentors who will be able to help and guide you through specific issues that you may have - specific to your industry and company
3) Guest Faculty: We have planned for guest faculty to come in and share insights and experiences that will be of help to your company and team
4) Other resources: We have on-boarded companies in specific areas like Legal, HR, Finance, and Tax who will help you in these areas
5) POCs and Test beds: Leaders of the Brigade Group with interests in Real estate, Construction, Retail and Hospitality will work with you to help you validate your products and services and where possible offer you the ability to test your products in a 'beta environment'
6) Access to customers: We have a network of 'Brigade relationships' with both MNC and large Indian corporates who you will have access to, to impress on them the power of your 'creation'. Once convinced, it will be left to your team and you to leverage the 1st connect to convert them into valuable customers
7) Partnerships with academia and global technology companies to help you identify trends, issues and challenges and help you when you hit a 'wall'.
5. Will you help me with Customer Connect?
Absolutely! It is in our interest to ensure that your product/service is of value to your customers. More importantly, value that a customer is willing to pay you for. To begin with, post our evaluation of your solution, we will connect you with members of the Brigade leadership team who could be your customers. Their feedback will be critical for you to shape your strategy and help you refine your product and go to market.
6. Will you help me with Funding?
Our endeavor will be to get your company 'Investment' ready. There will be workshops on fund raising, business plan fine-tuning, pitch deck preparation and actually working with you where required on the presentation itself. But more importantly, it is getting your company on a strong foundation that is attractive for investors. One unique thought process here is to get you to interact with some leading Investors who will provide 'Investment Mentorship' on an ongoing basis to help you tweak your business model, help with a monetization strategy et all, so that when you have the opportunity to present to Investors, your company is attractive and investment ready.
1. Funding: Brigade REAP too is open to making investments through an associate company, in some of the companies that will help the company enhance its efficiencies. We will only invest in companies that show significant progress while in the program. We will not be investing at the on-boarding stage.
2. Venture Funding: We have a network of select VCs who you will be exposed to at various points in time, who will provide you with valuable insights and feedback on the company but who will also invest in companies they like and believe in. It is important for you to note that only companies who we believe are "Investor Ready" will be connected by us to select Investors who have shown interest in your company.
Although we can guide you, the final effort and call is yours based on the value you were able to unlock whilst at the Accelerator program.
7. What kind of mentors are available to the startups?
We provide startups with access to mentors who are industry experts in IoT, Big Data, VR/AR, Cloud Computing, Analytics, Law, and Finance including business and Investment Mentorship. Do see the list of mentors who have agreed to devote valuable time to help you succeed.
8. What is the selection criteria for the program?
We are looking for early-stage startups with a registered company, proof-of-concept or product that are focused on the sectors we have identified, with some traction.
9. How many startups will you take per batch?
While the belief in the outside world is 'the more the merrier', we believe that focusing on a few companies would help us deliver far greater value. The exact numbers will be determined after receiving applications, we believe the numbers will be in single digit.
10. Can I apply for the program even if I'm a student?
Absolutely! We would love to have enterprising students apply. We require you to have a registered company & a proof-of-concept with some traction. We have met with a few students, who while in college, have built small but profitable businesses.
11. Will working with the Accelerator, prevent me from working with other real estate companies?
We open doors to other real estate developers to help you get as much traction as possible. In fact, we will be happy to connect you to customers across Real Estate, Retail & Hospitality sectors to increase your business.
12. Will my IP (Intellectual Patents) be safe?
We believe this question is irrelevant from our perspective since we ourselves will be organizing sessions for you from IP experts and companies who can help you protect your IP. In addition, we are not a technology company with any use from your IP. Of what use is the IP without the expertise and experience of the minds that created it? Our focus is to help the Startup ecosystem by leveraging our Group's strengths to help companies such as yours succeed and help create disruption and jobs for our country.
1. Will Brigade REAP take equity upfront to participate in the program?
We will take a small portion, between 2 - 5% of equity in return for the value we will be providing. The % will be based on the investment and revenue run rate that a company has at the time of applying to the program. We believe that free lunches have little or no value. Besides, we have a stellar team and a great network of mentors to ensure that you get the most out of this program and your startup is ready to scale & grow.
Startups from Batch 1 will stand testimony to the value Brigade REAP has provided.
2. How much will you invest in a startup and at what valuation?
We will invest ~ US $ 50,000- US $ 100,000 in select startups who show substantial progress during the course of the program. We will not be investing in Startups at the time of on-boarding the batch.
1. Where can I apply?
The applications are currently closed. We will open applications for batch 4 in Feb 2018.
2. What are the timelines?
Upon review of the applications, our team (based on the answers to the questions, presentations & telephonic calls, if required) will shortlist companies who will need to come for a face-to-face meeting. The meeting will include the jury team comprising leading ivestors from the venture community, our partners from Microsoft, Intel, Cisco & JLL and the Brigade Leadership team. This will happen between the 3rd and theth week after the applications has been shortlisted. The commencement date of the program will be informed later.
The program will commence in the 1st week of October 2017.
3. When will I know if my startup has been selected for the program?
Those selected will be contacted when we make our decision by the 5th week upon shortlisting.
4. Where will the program take place?
The accelerator is located at the Ground Floor of the Sheraton Grand Hotel Bangalore at Brigade Gateway, opposite the iconic World trade Centre - https://goo.gl/maps/sZQoqUshFq12
A total of ~ 10,000 square feet has been set up for the program at Rajajinagar, Bangalore. This includes, office space for meetings, designed keeping in mind the needs of young companies.The space is refreshing and stimulating with all facilities that will help a company focus on their core purpose - scaling their business.
The premise is well connected with Metro, Bus Stand, Uber and Ola and also has ample car and bike parking.
In addition, we will, as part of the program, be offering you meeting spaces in Bangalore at JP Nagar, Whitefield, Lavelle Road and Koramangala and in Chennai and Hyderabad for you to have business meetings, brainstorm etc. for few hours in a day.
1. Will startups be provided with office space?
You can use our office space for customer meetings with access to Brigade offices at more than 5 other locations in Bangalore, Chennai and Hyderabad
2. Does my company have to be based out of Bangalore?
No! As long as you believe that what we are offering is of value to your company and your team, it does not matter to us where you are based. But it will be important and imperative for your team members and you to attend relevant sessions that our team has painstakingly created for your benefit. Do remember that we are investing precious time, money and more importantly, mentor bandwidth to help you succeed and we have seen by past experience that companies who participate in all sessions and engage deeply with other participants and members within the program, benefit the most.
3. How often do the startups have to be at the Brigade locations?
Based on our learnings from previous batches across accelerators, we believe that the maximum benefit will come from you participating in all the sessions as also by interacting and collaborating with other entrepreneurs in the cohort. The companies that have scaled up significantly are those that have taken the maximum benefit from us and our partners. Startups have to be out in the market to gain traction and you should balance the art of straddling knowledge at REAP and execution on the ground.
4. What is the duration of the program?
The program is a structured and highly interactive one, scheduled for 4 months. The objective of the program is to help companies identify key issues and challenges and address them in a tangible and sustainable manner.
5. Do you provide startups with accommodation?
For companies headquartered outside of Bangalore/India, we will connect you to companies who can help you find accommodation at a reasonable monthly rental near the REAP office. This also applies to companies based out of Bangalore who need accommodation close by.
6. What happens after the program is over?
Our endeavor and wish is that the Program has added ample value to your company and you for you to soar to greater heights. The 4 months program will culminate in a 'Where the rubber meets the Road' demo day where you present at a formal function to various relevant stakeholders critical for your scale- VCs, other investors, Corporate and the Media.
1. Name a few leads acquired by the previous batches through REAP.
For Batch 1 & 2, we got the startups to present to CREDAI-Bangalore and CREDAI-Chennai chapter respectively, resulting in several promising leads for the startups. Some of the startups have been able to convert these leads into paying customers. Startups from Batch 1 & 2 will stand testimony to the value Brigade REAP has provided.
2. Which are the startups that REAP has made their investments from the previous batches?
Brigade REAP has finished its firsts funding for QwikSpec where we lead the investment along with Mohandas Pai and couple of prominent builders. Brigade REAP is also looking at investing in one more company from the current cohort.
3. WHAT IF I HAVE MORE QUESTIONS?
You can drop us an e-mail at firstname.lastname@example.org