MetaProp NYC, the New York real estate technology accelerator, signed an agreement with the International Council of Shopping Centers (ICSC) and announced its initial 2015/2016 cohort participants at an invitation only event with more than 60 real estate technology entrepreneurs, investors, innovation champions and guests at ICSC’s headquarters in Midtown Manhattan on Aug. 25.
MetaProp NYC Co-Founder Aaron Block remarked, “ICSC is a powerhouse in the real estate industry and their organization brings an important perspective to our all star lineup of partners, mentors and start-ups. Retail real estate offers one of the biggest opportunities in today’s property technology industry.”
The MetaProp NYC accelerator annually selects eight of the best technology-driven real estate start-ups to participate in its 16-week program that is based in New York City. The accelerator will invest $4 million to $5 million over the next five years in approximately 40-50 startups. Early stage startups receive at least $25,000 in cash, access to a vast mentor network and access to Class A office space for 16 weeks, in exchange for six percent of common stock. In addition, later stage startup participants receive up to $250,000 in funding.
ICSC’s newly inked agreement with MetaProp NYC brings an expansive network of industry contacts and resources to the table. The world’s largest association for the retail real estate industry has more than 70,000 members in over 100 countries, and will serve as a tremendous resource for the eight companies.
“We are excited to partner with MetaProp NYC and to support industry innovation through these young startups,” said Michael P. Kercheval, ICSC’s president and CEO. “Technology is having a major moment in the retail real estate industry and is influencing every sector, from how consumers shop to how retailers are reaching these consumers.”
ICSC joins MetaProp NYC’s additional corporate partners including REBNY, Zillow, Warburg Realty, DLA Piper, EisnerAmper, The News Funnel and BigApps NYC 2015.
The first selections in the accelerator’s inaugural program include:
- Rentalutions – platform for landlords that allows them to complete a host of duties electronically, saving time and money. Features include automatic listing, tenant screening, digital leasing, online rent payments and maintenance monitoring.
- Radiator Labs – offers a smart radiator cover that instantly converts old cast-iron radiators into smartphone-controlled climate systems that boast profitable ROI, comfort, control, and energy savings.
- SocialSign.in –Wi-Fi marketing solution that enables businesses to leverage their guest Wi-Fi network to increase engagement, learn about customers and build relationships.
- Notion – streamlined home monitoring systems with one small device that incorporates eight types of sensors that can detect motion, acceleration, moisture, light, proximity, and sound.
- Optii Solutions – housekeeping software that improves productivity, efficiency and quality for hotels around the world.
MetaProp NYC Co-Founder Clelia Peters remarked, “We will continue to select up to five more companies from a pool of 150 office, retail, residential, storage, hospitality and leisure real estate technology applications received during our two-month admissions period. That said, we have been extremely selective so far and these startups set a high bar for the rest of the class. Not only are they successfully solving some of real estate’s most pressing problems, they also have the support of other influential investors and accelerator programs like TechStars, Plug & Play and the NYU Polytechnic incubator.”