Accelerator program not as Canadian as touted

Accelerator program not as Canadian as touted

Friday, October 8, 2021

Canadian proptech companies comprise just half of the slate newly named to the 2022 REACH Canada accelerator program. The other five participants chosen through a competitive process sponsored by the U.S. National Association of Realtors (NAR) are based in the United States, Australia and Israel.

In announcing the new inductees to the program, Lynette Keyowski, managing partner of REACH Canada, implied that not enough Canadian applicants could make the cut. “When making the final selection, we felt the need to focus on technology and founding teams that are quality dominant,” she explained.

NAR’s efforts to identify and nurture promising technologies for the commercial and residential real estate sectors are aligned with its global technology fund, Second Century Ventures. The REACH program was launched in the U.S. in 2013 to offer accelerator services, building on NAR’s extensive membership and reach in the global real estate industry. Offshoot programs have subsequently been introduced in Canada, the United Kingdom and Australia.

Companies selected through all REACH streams are promised direct mentorship from a range of real estate, mortgage, venture capital and technology influencers, along with NAR’s guidance and access to prominent real estate industry conferences, tradeshows and networking events.

Keyowski describes the proptech companies selected through the REACH Canada process as “led by both men and women founders, representing multiple cultures and diverse ideologies”. One of the companies was also selected to NAR’s 2021 REACH Australia cohort earlier this year.

“These 10 companies are poised to make a significant impact on real estate in North America and well beyond,” predicts Dave Garland, managing partner with Second Century Ventures. “We are eager to accelerate their growth and share their unique and progressive solutions with Realtors around the world.”

The five Canadian companies include:

  • Perch, an analytics platform for prospective homebuyers, offering a range of information related to securing mortgages and other aspects of real estate transactions
  • Simplicity Global Solutions, a mortgage application platform for buyers and brokers
  • Urbanimmersive, a 3D marketing platform for real estate professionals
  • Loft47, a commission management platform for real estate brokerages
  • Rise, a platform for purchasing sustainable home products and finding related information about products and materials

“The 2022 Canada cohort offers an impressive range of diverse solutions, demonstrating that technology truly has no borders,” Keyowski asserted.

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