HDFC Capital, the subsidiary of the Housing Development Finance Corporation (HDFC), and Invest India, the Indian government's arm to promote investment, jointly announced the launch of a proptech platform HDFC Real Estate Tech Innovators 2022. Launched under HDFC Capital’s HDFC Affordable Real Estate and Technology (H@ART) platform, it will identify, recognise and award innovations in fintech, salestech, construction tech and sustainability tech sectors.
Companies shortlisted on the platform will have to showcase innovative solutions aimed at ensuring affordable housing to stakeholders. HDFC Capital has also committed to invest in at least three of the most innovative companies or solutions under HDFC Real Estate Tech Innovators 2022. Besides this, the platform will help start-ups in gaining timely access to end-user businesses, as per an official release.
Applications will be accepted from all over the country and eligible people can visit the Tech Innovators portal to apply for the challenge. These applications will be evaluated on a rolling basis and shortlisted candidates will be given an opportunity to present innovations at the main event to be held in Mumbai on November 14 this year.
Commenting on the initiative, Invest India MD and CEO Deepak Bagla said, “Policy initiatives taken over the past few years have made India a global player and have resulted in a significant inflow of foreign investments in all areas of the economy. Through the "HDFC Real Estate Tech Innovators 2022" program we are aiming for increased cooperation between different stakeholders to provide the right market opportunities to startups in the Proptech sector.”
HDFC Capital MD and CEO Vipul Roongta noted, “Under the aegis of our H@ART Platform, we will also invest in real estate tech companies and foster their collaboration with leading real estate developers, thereby creating value across the entire affordable housing ecosystem.”
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