Real estate technology accelerator MetaProp NYC spent much of 2016 nurturing another crop of startups and is now ready to show them off at its annual Demo Day. The six companies, selected from a pool of over 300 applications from 35 countries, will be on display at Silverstein Properties’ 7 World Trade Center on January 26th and again in San Francisco on February 2nd.
MetaProp NYC’s coveted accelerator program provides startups with 22 weeks of hands-on real estate and technology training along with $25,000 or more in cash in exchange for a small equity stake. Participants also gain access to MetaProp NYC’s far-reaching network of partners, invetsors, industry mentors and media connections.
“Our 2016 accelerator cohort was filled with talented and inspiring entrepreneurs who are transforming everything in real estate from building energy management, to interior design, to construction project scheduling and even real estate appraisals,” said Aaron Block, MetaProp NYC Co-Founder and Managing Director. “It’s exciting for us to work with the next generation of PropTech entrepreneurs in attacking common problems across the residential, office, industrial, retail and leisure real estate value chain.”
One of those PropTech entrepreneurs is Francesca Loftus, CEO and Co-Founder of hOM, a company that partners with landlords to organize group fitness classes and other amenities in underutilized spaces. Loftus told propmodo.com that MetaProp NYC has helped her team connect with potential clients. “They’ve helped us develop a powerful narrative for sales — and it doesn’t hurt for investment and press either.”
hOM began in the residential rental market because the ROI was so transparent for those buildings, said Loftus. “Three renewals and the program pays for itself. We’re now also working in commercial, hospitality, hospitals, and schools. We connect with managers and owners looking to increase retention, to differentiate their building with a leasing tool, to save costs switching from an amenity manager, or for marketing purposes, to establish the brand of a building.”
Another MetaProp NYC accelerator participant is onTarget, a visual project management and analytics tool for the construction industry. The platform provides a single interface, with real time project management integrated with 3D BIM models, which aims to reduce cost and time overruns in construction projects.
According to Co-Founder Niran Shrestha, onTarget’s typical customers have annual revenue above $100M and are focused on large scale construction projects, like roads, bridges and data centers. MetaProp NYC’s network was able to connect Shrestha to several prospects in the heavy construction industry. “MetaProp has been very strategic in introductions, story telling and developing a very strategic go to market process,” explained Shrestha. “We got introduced to Hollister construction and Structure Tone, two of our biggest customers. We achieved 20% month over month growth in last four months. ”
Here’s the complete list of MetaProp NYC’s 2016 class, all of which will be presenting at Demo Day:
Flip (flip.lease): The first peer-to-peer lease listing website, where tenants can showcase their lease or take over an existing lease.
Ravti (www.ravti.com): Uses a digital tagging system to automate bidding, procuring and overseeing HVAC operations; clients include CBRE and Regency Centers.
hOM (www.iamhom.com): Brings group fitness classes to underutilized spaces in hospitality, commercial and luxury residential buildings.
Enertiv (www.enertiv.com): Energy management platform that tracks data across an entire building or a single room, and can be checked with a smartphone app.
Bowery (boweryres.com): The company claims to have “the fastest commercial appraisal report software in the business.”
onTarget (ontargetcloud.com): Reduces construction cost and time overruns through its visual project management, analytic software and 3D renderings.
Tal Kerret, President of Silverstein Properties will deliver the keynote address at MetaProp NYC’s East Coast Demo Day taking place Thursday, January 26th from 9:00 am to 12:00 pm on the 10th floor of 7 World Trade Center. In addition to presenting the accelerator participants, the event will reveal early details about the 2017/2018 accelerator class and will include the announcement of the 2016-2017 MetaProp Accelerator Mentor of the Year. Registration is free.
A West Coast Demo Day will follow on February 2nd in San Francisco.