Plug and Play, one of the first investors in Google, connects world leading corporations with tech startups through its accelerator programmes. As a partner, Grosvenor Group will help select startups in response to a specific business challenge and will have access to its technologies.
This is part of Plug and Play’s ‘Real Estate & Construction vertical’ which it launched in 2018. It has run three ‘batches’ of startups, totalling 28 companies, since its inception. It has also made 10 investments in innovative technologies.
OnSiteIQ, which provides visual documentation and a risk assessment platform for construction projects, along with Envio Systems, an IoT company capable of transforming buildings into an energy efficient smart buildings, were two of the startups included in Plug and Play’s batches.
Ian Mair, managing director of digital innovation at Grosvenor Group, said: “Digital developments have the potential to significantly impact the property sector and we are committed to investing in new technologies as part of our innovation strategy.
“We are looking forward to working with Plug and Play to help us source start-ups that can have a positive impact and help us further our purpose of improving properties and places to deliver lasting commercial and social benefit.”
Grosvenor Group also said that they “recognise that technology is going to have a huge impact on the industry, and there is a lot of potential out there.”
Saeed Amidi, founder and CEO at Plug and Play, said: “We are extremely excited to have Grosvenor Group join the Plug and Play ecosystem. As a developer, manager, and investor of various property types all around the world, they bring a unique point of view to our programme.
“Combining Grosvenor Group’s expertise in the real estate sector, our knowledge of innovation and technology, with great entrepreneurs from around the world, we will create great value for all stakeholders involved.”
Other property groups which are partnered with Plug and Play’s real estate and construction arm include Cushman & Wakefield and Prologis.
Adam Stanley, CIO and chief digital officer at Cushman & Wakefield, said: “By placing bets with early-stage PropTech companies, later-stage technology investments and thought leaders in both CRE and technology, Cushman & Wakefield is well-positioned to capitalise on PropTech developments and anticipate trends as they start.”