Colliers International Group Inc. has teamed up with Techstars to launch the first-of-its-kind Colliers PropTech Accelerator program.

Colliers and Techstars are partnering to identify and develop potential disruptors in the commercial real estate sector.

The goal is to identify and mentor startups around the globe which are developing industry-disrupting technologies capable of transforming the real estate industry.

“We’re out to shape technologies that have the potential to deliver value-enhancing strategies to our clients and better arm our professionals with game-changing business tools,” said Colliers president and chief operating officer Dylan Taylor. “After thinking through our innovation strategy and surveying potential paths to augment, we concluded a partnership with Techstars was by the far the best option.

“Techstars is a global leader in technology investing and the world leader in running accelerators, with over 40 active accelerators and a global network of 10,000-plus deeply engaged mentors, investors, entrepreneurs and community leaders across the globe.”

Techstars funds technology-oriented companies

Techstars funds technology-oriented companies and promotes growth by connecting them with entrepreneurs, experts, mentors, alumni, investors, community leaders and corporations.

“Technology is disrupting all industries, and commercial real estate is no different,” said Taylor. “The Colliers Proptech Accelerator, powered by Techstars, will give us early insight into productivity-enhancing, disrupting and innovative technologies in the property and real estate industry to best service our clients.”

Among the things the global real estate services company is seeking are:

* efficient marketplaces;
* big data, advanced analytics, artificial intelligence, machine learning, virtual reality and augmented reality applications for commercial real estate;
* and blockchain, financial technology, investor and occupier solutions applied to commercial real estate.

Startups selected for the Colliers Proptech Accelerator will be hosted in Toronto, Colliers’ global headquarters, for an intensive 13-week program focused on the development and acceleration of technology-driven solutions.

Application deadline is May 13

Applications for the first class open on Feb. 19. The deadline is May 13. Ten companies will be selected shortly after and the program will begin on Sept. 10.

“We will provide access to the best and brightest within Colliers and its extended community,” said Taylor. “We will also provide a path for pilots and proof of concept for participants that need it as a stage for their development.

“The program will conclude with a demo day, where the Proptech startups will pitch their businesses to hundreds of global investors, including Techstars and Colliers. We envision having lifelong relationships with all our accelerator participants as investors, customers and partners as they continue to develop their companies.”

Colliers will make a “substantial financial commitment to the program over the next three years,” according to Taylor.

The chosen companies will receive an upfront investment. At the conclusion of the program, they’ll have the opportunity to seek additional funding from Colliers, Techstars and other external venture capitalists to move them to the next stage of their development.