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Adapt Venture Launches Property Technology Accelerator Programme

Last update: 18/12/2017

KUALA LUMPUR, Dec 18 (Bernama) -- Asia Development and Property Technology (ADAPT) Ventures Sdn Bhd has partnered with leading global real estates investment and advisory firm IQI Global, and technology accelerator company WatchTower and Friends (WTF) to launch a property technology (proptech) accelerator programme.

ADAPT Chief Executive Officer (CEO) Christopher Tock said the ADAPT Accelerator programme was aimed at discovering new technologies related to the property sector, either by start-ups or matured companies, and make Malaysia the proptech hub for the Asian region.

"The property sector is an important contributor to Malaysia's economy, hence the need for technologies to drive its development and revolutionise the way transactions are done, just like how financial technology transformed the financial sector," he told reporters at the launch of the programme here, today.

ADAPT Acclerator is a programme that engages the most knowledgable players in the property technology industry in which they will share their experiences, discuss new technologies and act as mentors to their fellow entrepreneurs in order to push their business towards modernisation and success.

The programme will be mentored by Advisors from IQI, alongside WTF's mentors like iProperty Group and Exsim Group.

Meanwhile, WTF CEO Sam Shafie said the programme, which is expected to start in the first quarter this year, is aimed at having at least five new start-ups or matured companies with Proptech technologies to be built and accelerated to next level.

The funding for this companies would depend on the needs but as for the startups the group is expected to contribute about RM50,000 each for their development, said Sam.

?The property industry is poised to take a giant leap forward, propelling us into a new and exciting future. We all share the same vision of advancement and modernisation and the best way to do it is by sharing knowledge we have garnered with everyone.

"This venture is not about presenting new ideas to the property industry. It is about launching it forward and taking first step into a new technology lead era. Malaysia is chosen as a hub as it has an ecosystem and end-to-end support for start-ups" Sam said.

On the venture, IQI Group CEO Kashif Ansari said as the real estate industry continues to evolve, the group needs to embrace proptech in order to stay ahead or risk being left behind.

Property is a trillion dollar industries, and developing proptech is a way forward, he added.

-- BERNAMA