India’s real estate sector has long been perceived as traditional and slow to embrace technological change. However, in recent years, initiatives like REAP (Real Estate Accelerator Programme) by Brigade Group have been steadily altering that narrative. By nurturing innovation and strategically investing in scalable solutions, REAP and its associated investment vertical Earth Fund are accelerating the sector’s digital and sustainable transformation.
The Genesis of REAP
When REAP was first conceived, the Indian real estate sector was largely disinterested in technology. As Shankar, a senior executive at Brigade Group, explained during her appearance on Mint’s Brick by Byte show, “Most real estate companies spend less than 1% of their top line on technology. That includes hardware, software licenses—everything.” The sector’s underinvestment created a glaring gap in innovation, which REAP sought to bridge.
Since its inception, REAP has mentored around 80 startups, selected from a pool of over 4,000 applicants. These startups are not just given business advice; they are provided mentorship, leadership guidance, and crucially, the chance to pilot their solutions on live real estate projects. This hands-on approach ensures that the solutions are not just theoretically sound, but also practically viable.
Key Areas of Innovation
The startups selected by REAP span a wide range of focus areas, addressing both operational challenges and broader infrastructure inefficiencies. These innovations are not only about convenience or aesthetics—they target real pain points in real estate management and development.
Some of the standout areas include:
- Smart Water Management: Systems that detect leakages and enable precise consumption tracking, reducing water waste and operational costs.
- Indoor Air Quality Monitoring: Real-time air purification solutions that are especially critical in urban office environments where air pollution is a growing concern.
- Sensor-Based Lighting and Contactless Access: Enhancing energy efficiency and hygiene in workplaces through smart lighting systems and access solutions.
- Retail Optimization: Using behavioral analytics to improve tenant mix, store placement, and customer experience in commercial properties.
- Sewage Treatment Innovations: Eco-friendly sewage systems that operate without chemicals or electricity, offering sustainable alternatives to conventional methods.
The impact of REAP is evident. According to Shankar, about 40% of startups that have passed through the program have gone on to raise follow-on funding, underscoring the commercial viability of these innovations.
Earth Fund: Taking the Vision Forward
Recognizing the limitations of an accelerator model for startups that have matured, Brigade Group introduced the Earth Fund. This investment vertical is designed to support later-stage startups that have already proven their market fit and operational capability. Unlike REAP, which provides mentorship and pilot opportunities, Earth Fund is focused on strategic investment.
Earth Fund is not just about financial returns—it’s a tool for integrating advanced technologies into Brigade’s core operations. The Fund targets companies that align with smart city development, sustainability, and scalable infrastructure, making it both a business and societal initiative.
As Shankar pointed out, Earth Fund allows Brigade Group to “participate more meaningfully in the growth of solutions that have already demonstrated product-market fit and operational viability.”
Construction Tech: The Next Frontier
While REAP and Earth Fund have succeeded in modernizing several aspects of real estate—from tenant management to air quality—there remains a significant lag in the adoption of technology in the actual construction process. Shankar was candid in noting that on-site workflows in India remain largely manual, with limited automation in core construction activities.
This is a paradox, considering that the construction site is where the majority of the real estate workforce is employed. Tools that could enhance labor productivity, accelerate timelines, and reduce errors are desperately needed but still underdeveloped.
Innovation in this space is complicated by several factors: the informal nature of labor, the complexity of building codes, and a general resistance to change. Nevertheless, this represents a massive opportunity for startups and investors alike. Real progress in this area could redefine how buildings are made in India.
The Role of Policy
Such policies not only make sustainability more attractive financially but also send a strong message about the government's priorities. As India moves towards its net-zero goals, real estate—one of the country’s largest contributors to carbon emissions—must be part of the solution.
Leadership and Vision
Shankar herself is a dynamic leader at the helm of this transformation. As a second-generation executive at Brigade Group, she plays a multifaceted role spanning land acquisition, project feasibility studies, negotiations, and strategic planning. Her leadership style is hands-on, ensuring that innovation and sustainability are not siloed departments but embedded into the company's DNA.
She also emphasized that Brigade is not just building homes or office spaces—it’s building future-ready capabilities. Programs like REAP and Earth Fund exemplify this integrated approach.
Outside the boardroom, Shankar’s interests in endurance sports and poker reveal her analytical mindset and strategic thinking. Whether it’s a high-stakes negotiation or a marathon run, she approaches challenges with focus and resilience.
The transformation of the Indian real estate sector is still in its early stages, but the work done by Brigade Group through REAP and Earth Fund offers a compelling blueprint. By combining mentorship, live pilot opportunities, and targeted investment, Brigade is catalyzing a new era of smart, sustainable, and scalable real estate solutions.
As more developers, investors, and policymakers take note, the ripple effects of this innovation-first approach could be profound. From reducing environmental impact to improving urban livability, the potential benefits extend far beyond the balance sheets.