The launch marks the primary time the accelerator, REACH, will settle for functions from corporations in a non-primarily English-speaking area. Actual property startups can apply by February, and the applying can also be out there in Spanish by request.
New markets require new approaches and ways. Consultants and business leaders take the stage at Inman Join New York in January to assist navigate the market shift — and put together for the following one. Meet the second and be a part of us. Register right here.
The Nationwide Affiliation of Realtors’ tech accelerator is increasing to Latin America, the 1.6 million-member commerce group introduced Tuesday.
The launch marks the primary time the accelerator, REACH, will settle for functions from corporations in a non-primarily English-speaking area.
Bob Goldberg
“REACH Latin America is a brand new chapter in our program’s historical past, furthering our dedication to supporting entrepreneurs and innovators all through world actual property,” stated NAR CEO and SCV President Bob Goldberg in an announcement. “We welcome all standout startups to use to hitch us as we associate to propel our career into the longer term.”
NAR’s enterprise capital arm and for-profit subsidiary Second Century Ventures runs REACH, which debuted in 2012 and has invested in additional than 200 actual estate-related startups. This system helps its members tailor their merchandise to finest match the actual property business, offers networking alternatives with business consultants and affords publicity to NAR’s members.
SCV started increasing the accelerator past the U.S. in 2019, and it operates in Australia, Canada and the UK. In line with NAR, the Latin American actual property business represents almost $1 trillion U.S. {dollars} “in alternative.”
REACH Latin America can be based mostly in two main Mexican cities: Mexico Metropolis and Monterrey. Carlos Rousseau, president of the Mexico Proptech Affiliation, will head up this system as its managing associate. Rousseau can also be the founder and former president of the multinational actual property developer and funding firm Orange Investments.
Carlos Rousseau
“I’m very excited to guide such a forward-thinking program throughout Latin America’s proptech ecosystem,” Rousseau stated in an announcement.
“This program will change how issues are carried out within the area and open a world of alternatives for Latin America’s actual property tech startups. The 2023 class will carry corporations from throughout the continent and your entire actual property ecosystem, with every member fastidiously chosen to ship improved actual property buyer experiences.”
The appliance window for REACH Latin America (REACH LATAM) started Tuesday and ends on Feb. 28, 2023. This system’s kickoff occasion will happen someday through the second quarter of subsequent yr in Mexico, and members will graduate within the fourth quarter, in keeping with this system’s web site.
This system’s software kind, which is in English, asks for primary details about the corporate and its founders, together with what number of are feminine, minority and/or LGBTQ+; what market and clients is the startup serving; what’s the startup’s aggressive benefit; what drawback is it attempting to unravel; how a lot funding has it obtained to date; and what’s its enterprise mannequin.
“Firms should not required to talk English to take part within the REACH Latin America program,” Rousseau informed Inman in an emailed assertion.
“The REACH LATAM software is supplied in English on the REACH web site for consistency with different packages however can also be out there in Spanish by request from program candidates.
“REACH LATAM will leverage finest practices from all REACH packages, which have served entrepreneurs from over two dozen international locations of origin throughout 5 continents, a lot of whom function their companies in a number of languages. The REACH LATAM group will curate program belongings and occasion experiences in a number of languages to offer the very best expertise for program members.”
In line with NAR, REACH LATAM will give attention to early to mid-stage actual estate-related expertise corporations and supply an annual curriculum that features “mentorship, unique occasions, community publicity, strategic planning and entry to a portfolio of greater than 200 like-minded, high-growth tech corporations.”
Dave Garland
“Our program is uniquely positioned to assist and develop aspiring tech corporations, serving to them construct agility and resiliency as they energy innovation throughout actual property,” stated Dave Garland, managing associate of SCV, in an announcement.
“The burgeoning property expertise market in Latin America is the perfect subsequent chapter for REACH and is an important part of our continued world enlargement.”
Previously, startups that enrolled in REACH paid a advertising and marketing payment of $25,000 to Second Century Ventures and handed over fairness stakes starting from 2 to five p.c. NAR hasn’t disclosed the price of enrollment for newer lessons.
E mail Andrea V. Brambila.
Like me on Fb | Comply with me on Twitter
