The Dubai Land Department (DLD) has partnered with Second Century Ventures to launch the Reach Middle East PropTech Accelerator Program and begin accepting applications for its first cohort of startups. This landmark initiative, spearheaded by proptech pioneers Siddiq Farid and Karim Helal, invites startups from across various sectors to join the program, redefining real estate innovation in the region.
Reach Middle East is a selective, eight-month program that aims to empower up to 10 high-potential startups by providing them with the tools, mentorship, and networks they need to scale locally and globally within the real estate sector. Selected companies will receive the following benefits:
- Direct funding and investment: Reach provides seed capital of up to $250,000 per company, exposure to strategic investors, and access to follow-on funding.
- Getting to the ground: Working with leading real estate developers, government entities, and facility managers to pilot and commercialize solutions.
- Alt Text: Expert-Led Mentorship: Learn from industry pioneers, successful company founders, and global thought leaders in the field of proptech.
- Growth Opportunities: Provide curated networking opportunities at leading real estate events, conferences, and exhibitions to drive market adoption of solutions.
- Alt Text: Global Expansion: Join the exclusive global REACH network of over 330 alumni companies with a combined value exceeding $10 billion.
In line with the UAE’s Digital Economy Strategy, the Dubai Economic Agenda (D33), and the Dubai Real Estate Sector Strategy 2033, which aims to add over $27 billion to the economy, the program supports the digital transformation of the real estate and urban development sectors. The program complements other accelerator initiatives in the UAE, such as Hub71 in Abu Dhabi, as well as regional initiatives of the Saudi Real Estate Development Fund and the NEOM Innovation Hub. By fostering public-private partnerships, the program contributes to establishing the region as a global hub for innovation in the real estate ecosystem.
Reach is supported by Second Century Ventures, a global real estate investment fund specializing in building real estate giants and connecting the world’s most innovative startups with an unparalleled community of practitioners, owners, operators, and policymakers.
Siddiq Farid, Managing Director of the program, said: “The MENA region is a leader in real estate innovation and is committed to empowering startups to address real-world challenges.” Dr. Mahmoud Al Burai, Head of Policy and Innovation at Dubai Land Department, said: “We are proud to partner with Reach Middle East to unlock the potential of proptech startups in the region. By launching in Dubai, this accelerator program provides unprecedented support to entrepreneurs, contributing to the development of solutions that will have a wide impact across the Middle East and contribute to enriching the global real estate ecosystem.”
Reach Middle East targets revenue-generating startups, from seed to Series A, seeking to expand into real estate, construction, sustainability, or property management, leveraging emerging technologies such as artificial intelligence, the Internet of Things, and blockchain, with business models that are scalable locally and globally.