Glorax Group launches accelerator of it startups in the real estate sector
The Glorax Group has launched the Quadro Accelerator, a program for the development of IT startups and blockchain technologies in real estate and development, as part of the high-tech direction of Glorax.Infotech. The volume of planned investments is 1 billion rubles, which is a record amount for this segment.
About 75% of the investment volume is made up of Glorax Group’s own funds, another 20% is provided by institutional investors and partners of the Group. The remaining 5% is the funds of free market investors. At this stage, any interested investor can join the acceleration program.
The Quadro team includes major players in the Russian real estate, retail and IT markets as mentors, including Lamoda CEO Florian Jansen, N&K Spedition AS CEO Martin Gregersen, Glorax Group CEO Alexander Andrianov. Head of the accelerator is Andrei Birzhin, a founder of the investment Glorax Group, whose priority is the development business. Glorax Development is a leading player in the real estate market of St. Petersburg and one of the TOP-5 developers of the “Northern” capital.
“The Russian and global real estate markets are sorely lacking innovative solutions that will help optimize the construction and project management process, reduce the human factor and, of course, improve the consumer properties of the product. Special attention should be paid to the real estate purchase and sale segment, as it is necessary to strengthen the security of transactions and speed up the processes. We are ready to provide promising startups with financial assistance, business contacts, expertise and the possibility of implement services at real construction sites. We also plan to invite accelerator experts for specific tasks after the launch of the project,” comments Andrei Birzhin.
“Project financing is just the beginning. The next step is management. At this stage, we will help build the main business processes, from finance to advertising and HR, as well as adapt the product to market realities. It is not without reason that we have gathered such outstanding mentors into our team – promising startups will have the opportunity to work out their solutions and get advice from Quadro experts,” commented Alexander Andrianov, CEO of the Glorax Group, an expert at Quadro accelerator.
Acceptance of the first applications has already started on the website www.glorax.io. The collection of applications for participation in the accelerator will last until mid-December 2020. Teams will go through an absentee qualifying round and then will be able to present their startups at a face-to-face meeting with accelerator experts. During the year, 4 in-person qualifying rounds will be held.