Australia's Lendlease Corp. Ltd. and JLL have identified the five startups that would participate in the partners' Propell Asia accelerator program for property technology companies launched in June, The (Singapore) Business Times reported.
The startups include GorillaSpace, an online platform for flexible and long-term workspaces; Lauretta.io, which uses artificial intelligence to automate the facilities management process; Logfront, a facilities management platform; Nucon, an intelligence engine targeting the construction industry; and Talox, a leasing and asset management platform.
Under the 10-week program, the startups will be given access to mentors who will guide them in developing business skills, including planning, developing a strategy and execution, according to the Sept. 4 report.
Lendlease and JLL have pledged to take a 5% stake in each of the startup at the end of the program through a S$20,000 grant. The participants may also receive follow-up investments from JLL's new US$100 million venture fund, JLL Spark.
As of Sept. 4, US$1 was equivalent to S$1.38.