Less than a month is left for filing applications with Glorax Infotech Accelerator

23.11.2020

On December 15, the Real Estate Projects Accelerator by Glorax Infotech will complete the fourth, last in 2020, startup check-in round. The focus is made on innovative solutions to streamline processes in construction and development, sales of and legal support to transactions, along with developments in the field of neuron networks and artificial intellect.

MVP-stage projects from across Russian and CIS-states with a finalized business plan are invited to roll in. It is of little relevance whether the project team has an established company. The panel will select and test the best startups as part of trial launches at Glorax Development sites. Based on the outcomes of the trial launches, expected to last an average of three months, the experts will make a decision on investments and further form of cooperation.

The Glorax Infotech Accelerator was created by Andrei Birzhin in early 2020 for the purpose of supporting the initiatives made by the authors of solutions in the sphere of PropTech (Property Technologies). The Accelerator’s investment fund equals RUB 1 bln. The Accelerator has collected over 350 applications since the year start. The most relevant solutions for the industry raised investments worth RUB 115 mln.

As part of the accelerator project, an open PropTech-solutions platform was created focusing on expanding this innovative line in the Russian market and helping promising teams to find expert financial support among other sector players.

“Conventional business processes have been rapidly changing in many sectors over the recent years. And the construction sector has stepped onto the transformation path. Highly efficient innovative solutions are relevant for us now as never before. To find the best of them, we have created the corporate accelerator as that very startup cooperation model enables us to speedily check innovations on viability at particular sites and then scale them across the sector,” says Andrei Birzhin, head of Glorax Group and founder of the Glorax Infotech Accelerator.

About the Accelerator:

Glorax Infotech is one of the business lines pursued by the investment–focused Glorax Group with an emphasis on development and sale of its proprietary IT and blockchain projects along with the acceleration of promising real estate projects and bringing them to the global market.