NILA Spaces Pledges $1 Million for Prop-Tech Innovation through VisionX Program

Updated on: 20 December 2023 6:43 pm

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Real estate company Nila Spaces is launching the VisionX Program, allocating $1 million to support Prop-tech start-ups.

The company aims to lead in digitalisation and technology integration within real estate while fostering entrepreneurship among the youth in India, it added in its statement.

Managed by Awfficacy Capital, VisionX is a 12-week rolling accelerator program tailored to nurture and elevate early-stage prop-tech start-ups. VisionX transcends strategic and financial support, encompassing four pivotal phases that encompass business planning, strategy formulation, market research, and product/tech development, the company added.

It added in a release that the participants will benefit from personalised mentorship, access to the prop-tech ecosystem, and immersive sessions on business development and investor readiness. Notably, the program emphasizes scalability, dedicating specific weeks to exploring advancements in technology in the Real Estate sector.

To be eligible for participation, start-ups must meet the following criteria:

Seed-stage or early-stage start-ups.
Demonstrating innovation in their product or service.
Possessing high growth potential and scalability.
Committed to actively engaging with mentors, advisors, and the prop-tech ecosystem at large.

Commenting on the fund, Deep Vadodaria, CEO of NILA Spaces, said, “The VisionX Program is our commitment to propel prop-tech start-ups, providing capital, mentorship, and a sustainable ethos—an investment in the future of real estate innovation and the promotion of entrepreneurship in the Indian youth.”

"In the coming years, we anticipate a substantial increase in the adoption of disruptive technologies in the real estate market. The VisionX Program channels resources into startups leading in technology, shaping the transformative era of the prop-tech market in India," Vadodaria added.

Said Gautam Pai, founder and CEO of Awfficacy Capital said, “The VisionX Program is not just a momentary endeavor; it signifies the enduring commitment to fostering innovation and shaping the future of the prop-tech landscape.”