Accelerator program for startups

Partnership deal announced in Shanghai aims to foster development of a prop tech ecosystem that will seek innovative technical solutions for the property industry. 

JLL, Swire Properties and Ping An Urban Tech announced a partnership in Shanghai on Friday which will launch an accelerator project that focuses on prop tech to embrace innovation in the real estate industry.

The UrbanLab project, the first prop tech corporate accelerator initiative in the Chinese mainland, aims to foster development of a prop tech ecosystem that will seek innovative technical solutions for the country's property industry.

Operated mainly by Ping An Urban Tech, a subsidiary of Ping An Insurance (Group) Co, the UrbanLab corporate accelerator project will select six to 12 prop tech startups that offer products or services covering areas including smart cities, construction tech, blockchain, workflow platforms, artificial intelligence, building operations and management, the Internet of Things, energy management and sustainability, data analytics and new retail.

During the three-month program, the chosen startups will get the chance to test their products or services at Swire Properties' two projects in Shanghai, one on West Nanjing Road and the other in the Pudong New Area's Qiantan, as well as the Shanghai office of JLL and Ping An Urban Tech.

They will also receive proof-of-concept opportunities with Swire, JLL and Ping An Urban Tech's extensive real estate portfolios and business units as well as mentorship and support from industry leaders and experts.

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