MetaProp NYC, the New York real estate technology accelerator, today announced the Real Estate Board of New York (REBNY), the city’s most influential real estate trade organization, as a corporate partner. The three-year commitment by REBNY will provide the accelerator and their selected companies with direct access and insights to the real estate industry through space sharing arrangements, mutual marketing support, real estate and technology education opportunities, collaborative events, and the benefits of REBNY Allied Membership. REBNY’s support as a corporate partner will also provide accelerator participants with insights as to emerging market trends, technology gaps in the real estate market, and potential growth areas for the industry that could encourage new technologies in the future.
The MetaProp NYC program, which annually selects the best technology-driven real estate industry startups, will accept eight companies per cohort to provide growth services, mentoring, intensive courses and funding for a select group of companies. In addition to mentors from corporate partners, program participants will have access to MetaProp NYC’s RE200 mentor network, spanning verticals such as development, brokerage, architecture, construction, finance, data and technology, including high-growth NYC-based property technology startups VTS, Hightower, Reonomy, SiteCompli, The Square Foot, Nestio, and FieldLens.
MetaProp NYC will invest an estimated $4-5 million in approximately 40-50 startups over the next five years, with the goal of launching and growing the next generation of leading edge real estate technology companies. Applications for participation in the program opened on June 16, 2015; selections will be determined and orientation will kick off in August 2015. The program culminates in a Demo Day to partners, investors, VCs and media in early 2016. In June 2015, MetaProp NYC announced five founding corporate partners including Zillow Group, Warburg Realty, DLA Piper, EisnerAmper and News Funnel.
REBNY President John Banks said, “New York City is increasingly becoming the home for technology-related real estate ventures. Together we will deepen New York’s leadership as the hub for both real estate and real estate tech.” He added, “We think it’s a great way to help the best real estate technology ideas thrive so they can one day be a real benefit to REBNY members.”
MetaProp NYC Co-Founder and Managing Director Aaron Block remarked, “REBNY is one of New York’s most influential and respected institutions. More importantly, REBNY’s leadership takes innovation and technology seriously. Our start-ups will benefit from access to the REBNY membership and the organization’s vast educational resources. We look forward to the greater real estate community’s support as we help build the world’s most promising real estate technology companies right here in New York City. It’s amazing to see the local community rally behind the brightest stars.”
On Thursday, July 23rd, MetaProp NYC’s first 2015/2016 cohort participant will be announced at a launch event in the Flatiron district.