MetaProp NYC, a real estate technology accelerator headquartered in New York City, has launched its inaugural 16-week program for technology-driven real estate startups. The program, which will accept eight companies per cohort, will provide growth services, mentoring, intensive courses, and funding for a select group of companies.
MetaProp NYC announced five founding corporate partners: Zillow Group, Warburg Realty, DLA Piper, EisnerAmper, and News Funnel. Aaron Block, co-founder and managing director of MetaProp NYC, remarked, “Our partners have been leaders of their respective industries and now are helping shape the future of global real estate technology. In addition, MetaProp NYC portfolio companies benefit from access to these partners’ technologies and innovation champions.”
Co-founded by real estate veterans and entrepreneurs, Block (serial entrepreneur, formerly Cushman & Wakefield), Clelia Peters (Warburg Realty), and Zach Aarons (Millennium Partners), the tech accelerator will be headquartered at Warburg Realty’s Flatiron office at 18 West 21st Street. In addition to mentors from corporate partners, program participants will have access to the MetaProp NYC RE200 mentor network, spanning verticals such as development, brokerage, architecture, construction, finance, data, and technology, including high-growth NYC-based property technology startups VTS, Hightower, Honest Buildings, and Reonomy.
MetaProp NYC will invest an estimated $4-5 million in approximately 40-50 startups over the next five years, with the goal of launching and growing the next generation of leading edge real estate technology companies.
Applications for participation in the program opened on June 16, 2015 and will close on August 14, 2015. Selections will be determined and orientation will kick off in August 2015.
“While Silicon Valley is clearly the tech capital of the world, New York City is emerging as the real estate tech capital of the industry,” stated Block. “We designed this program to incorporate best practices from other hugely successful accelerators such as Y-Combinator and TechStars, which are all focused on investing in and mentoring the next generation of tech superstars.”