Almost unheard of a decade back, the word ‘startup’ has become a buzzword in India. Youngsters with big ideas and belief in their abilities are coming up with innovative products and services. A majority of these startup use the power of information technology and the Internet to deliver solutions.
The startup ecosystem in India is already among the most vibrant in the world. As per Nasscom, India is home to the third largest startup base in the world after the USA and UK. The ecosystem is estimated to grow to 10,500 companies in 2020, employing over 210,000 people.
Some of these startups are also developing innovative solutions for the real estate and construction sector. We combed through various startups in India and shortlisted 6 categories within real estate and construction sector where there is considerable activity. These are e-commerce, virtual reality, property management, interior design, construction management and facility management. In each category, we have shortlisted one startup to showcase the type of solutions being offered.
Note: The example has been chosen to be typical of the category. Our aim is to show the type of solutions being developed. It is not our intention to suggest that these startups are better or worse than others.
|Facility Management||Apartment Adda||https://apartmentadda.com|
Buildzar (Category: E-commerce)
A typical building requires a vast variety of building materials such as cement, concrete, TMT rebars, bricks and blocks, plumbing, electricals, sanitaryware, tiles and paints. In each material, there are a number of brands available. The range of product-brand combinations available is extremely wide indeed. It is impossible for a single outlet to offer all products under one roof. Finally, the in-store experience in building materials is lagging behind other categories. In this scenario, many startups are trying to cater to needs of customers requiring building materials through e-commerce. One such company is Buildzar. The company is an online marketplace which works with building material suppliers and service providers to provide complete solutions to home builders.
SmartVizX (Category: Virtual Reality)
SmartVizX offers virtual reality solutions to developers, architects and interior designers. Architectural drawings have limitations since they cannot simulate real life scenarios. Using gaming technology, the company creates a virtual space for the customer. For instance, the customer can wear a virtual reality headset and walk through the home designed by an architect. He or she can virtually experience how the room looks like during the day or at night or with ambient lighting. The customer could move the location of the furniture to suit his or her taste. The possibilities are endless. Such virtual reality solutions could also make the process of seeing a model flat a whole new experience.
Azuro (Category: Property Management)
Azuro uses technology to streamline residential property management. Currently present in Mumbai, the company finds tenants for the properties of its customers by marketing them professionally, also ensures that the property meets the needs of tenants and makes changes if necessary, maintains the property, furnishes them as required and even does insurance. It aims to be a one-stop solution for home owners who would like to rent out their houses, without the hassle.
Foyr (Category: Interior Design)
Interior design for a home can be a long and cumbersome process. Customer needs need to be understood correctly and translated into a design that is aesthetic as well as practical. Further, interior designers often do not do execution, leaving a gap between design and reality.
Using standardized processes and technology as an enabler, Foyr cuts short the time taken for interior design to a few days. Foyr does not charge for the first interior design that it submits to customers. Instead, Foyr undertakes turnkey contract work to bring the designs to life and charges a fee for it. Modifications to design are done free if the customer commits to using Foyr for interior contract work.
Ayoga (Category: Construction Management)
All leading contractors use project management software to manage their processes. There is scope for innovation to add collaboration features to such software in order to leverage the widespread use of smartphones and tablets; connecting the unconnected. Additionally, there is a need for project management software that can bring together and simplify use of various other software used by contractors such as CAD, document management software and collaboration software.
Many startups are working in this area. One of them is Ayoga, a subscription based service that has features for project management, planning, collaboration, business process streamlining, document management, geo-fencing etc.
Apartment Adda (Category: Facility Management)
Till now, we discussed software that is used during construction phase of a project. The final area we would discuss in this article is for residents of apartments. Facility management is a developed field in commercial properties where specialized firms use software developed for that purpose. But in residential properties, where facility management is often done by Resident Welfare Associations (RWA), there has traditionally been dearth of good software to manage all processes. Apartment Adda aims to fill this gap by offering an Apartment Management System that has features such as communication platform for all residents, supervision of maintenance, automation of processes like security, accounts etc.
Know of a startup whose solution you like? Let us know!