Participating startups will receive $25,000 and 60 hours of mentorship.
The DMZ has partnered with Toronto-based venture capital firm GroundBreak Ventures to launch a proptech incubator program.
Participating startups are expected to receive $25,000 in grant funding, office space in downtown Toronto, over 60 hours of one-on-one mentorship time from in-house experts, and support with fundraising through GroundBreak and the DMZ’s respective networks.
According to the DMZ, global investment in the real estate sector is at an all-time high. The tech hub noted that this presents an opportunity for startup founders to capitalize on the market as it moves towards a wider adoption of technology.
Reports from the last couple of years by the Proptech Collective show that the number of startups in the proptech space are steadily climbing, noting more than 450 proptech startups in Canada as of this year. According to the not-for-profit group, of the top 25 funded proptech startups in the country, the top five were RenoRun with $202 million raised to date; NexII with $126 million; GoBolt with $113 million; Certn with $108 million; and Nesto with $108 million.
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“We’re seeing the real estate sector face a historic boom,” said Sherif El-Tawil, the DMZ’s senior director of programs and partnerships. “Not only is proptech a hot market for startups to tap into investment capital, but new ventures in the industry are driving meaningful impact to promote safe, inclusive, efficient and sustainable systems in Canada and beyond.”
With its new proptech program, the DMZ aims to fuel the potential for more startups to “redefine the real estate sector and build high-impact, world-class enterprises.”
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Since its inception over a decade ago, the DMZ claims that it has graduated 721 startups, which have raised a collective $1.75 billion in seed funding and fostered the creation of more than 4,677 jobs.
The DMZ provides startups with connections to customers, capital, experts, and a community of entrepreneurs and influencers.
In February, the DMZ partnered with the Dream Legacy Foundation to introduce a three-month coaching program designed to support Black founders in accelerating startup growth.
Entering international waters, the DMZ also announced last year that it is opening a new innovation incubator in Bermuda as it looks to become more involved in blockchain technology.
Applications for the proptech program will be accepted until August 14.