Stockland, an ASX-listed property development company, has teamed up with BlueChilli to introduce the Stockland Accelerator, aimed at supporting startups in the property technology (proptech) sector.
The program will select fifteen startups to participate in a six-month initiative. Participants will receive an initial investment of $38,000 in exchange for 15 percent equity, with the opportunity for up to $500,000 in follow-on funding.
With a market capitalization exceeding $10 billion, Stockland is seeking startups focused on six key themes: communities, residential, retirement, workplaces, retail, and the property industry.
Robyn Elliott, Chief Innovation, Marketing, and Technology Officer at Stockland, views the accelerator as an additional facet of the company’s innovation strategy. Elliott stated that the program will facilitate collaboration with innovative thinkers to bring new opportunities to the industry and benefit communities.
Elliott further emphasized the desire to nurture a successful local proptech industry with a global reach. External partners such as BlueChilli play a vital role in enabling Stockland to leverage expertise, address customer challenges promptly, and establish international connections.
Sebastien Eckersley-Maslin, CEO of BlueChilli, noted that Australians possess a deep interest in property and its associated technologies. The program aims to attract driven individuals with innovative ideas to enhance properties, spaces, and communities while fostering connectivity.
Early-stage startups are encouraged to apply for the program. Following an initial bootcamp involving forty selected participants, the final fifteen will be chosen.
Accepted startups will have access to experts and customers to validate their ideas. They will also collaborate with an assigned product manager and development team to build their minimum viable product (MVP).
This announcement follows the launch of the JLL Spark Global Venture Fund by JLL, a global real estate services firm, in June. JLL Spark intends to invest up to $100 million in proptech startups, connecting portfolio companies with JLL’s business and clients for valuable feedback and product distribution.
The Stockland program marks BlueChilli’s second corporate accelerator this year, following its collaboration with Coca-Cola Amatil to launch the Xcelerate program.
Some of the startups already participating in the Xcelerate program include Air Tracker, an air quality monitoring system; LockinFuel, an AI-powered app forecasting fuel prices; and PlastX, a startup streamlining the fulfillment of brands’ commitments to address plastic pollution by directly sourcing recovered plastic from communities.
