National Association of Software and Services Companies (NASSCOM) in collaboration with realestate company, CBRE South Asia Pvt. Ltd on July 29 announced the top 3 winners of India’s ‘BIGGEST PROPTECH CHALLENGE’ – DISRUPTECH. Touchwizard Technologies, XLSYS Technologies and WEGoT Utility Solutions were declared winners post three stages of evaluation by industry leaders from across sectors. The three winners will get the opportunity to be mentored by CBRE along with other opportunities during the time frame.
The challenge was announced in May 2019 with an aim to expand the footprint of technology in the real estate sector. Designed to identify, mentor and support start-ups, the ‘PROPTECH CHALLENGE’ seeks to transform the Indian real estate sector by developing the best technology solutions for industry.
Envisioned by CBRE India, entries for DISRUPTECH were divided into four categories: Real Estate FinTech; Sustainability; Agility & Efficiency and Made for India (solutions tailored specifically for the Indian market). DISRUPTECH 2019 witnessed participation from established and emerging start-ups from across India. The highest number of nominations came from South with a whopping 44%, followed by North at 25%.
Speaking on the initiative Srikanth Srinivasan, Head Membership, NASSCOM said “We see this initiative as a step forward towards building a sustainable ecosystem for PropTech start-ups in the country. India’s PropTech sector, although in its nascent stage, has several factors which are destined to make the country the numero-uno PropTech destinations in the world. It is expected thatby 2030, India will be the third largest real estate market in the world. The shift in progressive real estate developers, investors and start-ups from placing technology at the periphery to the core is already beginning to happen. The future, however, will entail an amalgamation of human skills along with adoption of advanced technology in the real estate that will serve as an unbeatable combination for the growth of PropTech in the country. We look forward to continue working towards the benefits of PropTech start-ups and hope to witness this space evolve as more and more companies realise the potential of technology to transform their business”
DisrupTech witnessed participation from companies across the country and the TOP thirteen entries selected to present to the juries were XLSYS Technologies Pvt Ltd, WEGoT Utility Solutions Pvt Ltd, Pemimpin Technology, Trustmore Technologies (P) Limited, Buildsupply, Arth Design Build India Pvt Ltd, Touchwizard Technologies Pvt. Ltd, Property Crow Services Pvt Ltd, Agnishudhi, Indriyn Data Analytics Pvt Ltd, Smarter Dharma Sustainable Solutions Pvt Ltd, YardSquare Property Management Private Limited and Magneto Cleantech.
Commenting on the challenge, the winner, Srinath Kandala, Director & CEO, Touchwizard Technologies Pvt. Ltd. said, “It is thrilling to secure first position at India’s biggest Real Estate PropTech challenge. We have worked hard on our idea and are positive that CBRE and NASSCOM will give it wings. Not only did the challenge give us a platform to present and showcase our idea to renowned industry experts, it has also won us a chance to connect with the wider community of like-minded people.”