MetaProp NYC, the world’s premier real estate technology nexus and early stage PropTech accelerator, announced today that The Fund for Public Housing, a non-profit organization founded to facilitate public-private partnerships in support of public housing, is helping the New York City Housing Authority (NYCHA) think outside the box through the newly launched 2017 NYCHA Tech Pilots, which brings New York City’s technology industry together with public housing.
NYCHA Chair and CEO Shola Olatoye (in yellow), NYCHA General Manager Michael Kelly (center in jacket and tie) and The Fund for Public Housing’s President Rasmia Kirmani-Frye (center in white) with the 10 shortlisted companies for the 2017 NYCHA Tech Pilots.
“NYCHA is changing the way we do business and that means finding creative and modern solutions to help us solve public housing’s greatest challenges. The Fund for Public Housing’s 2017 NYCHA Tech Pilots is an innovative way to help the Authority discover new approaches to better deliver on its mission,” said NYCHA Chair and CEO Shola Olatoye. “There are many ways NYCHA and the tech sector can partner and innovate to provide safe, clean and connected communities for our residents.”
“Through our collaboration with The Hub @ Grand Central Tech and MetaProp NYC, we have identified some of the strongest tech startups in New York City,” said Rasmia Kirmani-Frye, President of the Fund for Public Housing. “We are excited to see the positive impacts new technology can have on helping NYCHA better serve its residents.”
“MetaProp NYC is excited to offer its expertise in finding and growing the most innovative and effective PropTech startups to the goal of aiding the residents of public housing,” said Zachary Aarons, Founding Partner of MetaProp NYC. “Our partnership with the Fund for Public Housing and The Hub at Grand Central Tech is an extraordinary opportunity to use New York City’s status as the center of global PropTech to benefit private sector tech job growth and greater efficiency, savings and service delivery to the nation’s largest public housing organization.”
Four of the 10 startups shortlisted for the competition came out of MetaProp NYC’s last two Accelerator classes: enertiv, hOM, onTarget and Radiator Labs.
The 2017 NYCHA Tech Pilots launched this week to discover new ways for NYCHA to improve how it manages its 326 developments and serves its residents. NYCHA is facing more than $17 billion in unmet capital needs and potentially devastating budget cuts. As NYCHA’s infrastructure is crumbling, the Authority has to start thinking creatively with a shrinking budget.
Looking to technology and previously untapped resources, the Fund is dedicated to developing public-private partnerships that can help the 1 in 14 New Yorkers living in public housing. As the country’s largest residential landlord, NYCHA plays a critical role in the lives of hundreds of thousands of New Yorkers, and the 2017 NYCHA Tech Pilots demonstrates the Authority’s commitment to building a housing authority that is successful into the future.
The 2017 NYCHA Tech Pilots was launched at The Urban Tech Hub @ Grand Central Tech with a formal pitch event from 10 shortlisted finalists. The invitation for applicants was left intentionally broad to encourage as many creative responses as possible. Each finalist had six minutes to pitch why their technology would be a great fit for NYCHA. Topics covered issues such as conserving wasted energy, streamlining project management and easing resident stress.
After the pitches, NYCHA staff was able to ask up to three questions to each company. Staff, led by Chair Olatoye and General Manager Michael Kelly, will deliberate and announce the three winners later this month. The selected companies will then have the opportunity to run a three-month pilot program with NYCHA to demonstrate the utility of their product.
The Fund’s partners, MetaProp NYC and Grand Central Tech, helped find the right companies to apply for the pilot program through their networks of New York City startups. MetaProp NYC and Grand Central Tech are leading tech accelerators who support startup companies by connecting them to advisors and coworking spaces to develop their products. The applicants were chosen for their understanding of how technology can support public housing into the future.
Participants in the pilot receive no financial reward and NYCHA is not under any guarantee to enter into a formal, long-term contract with the selected pilot programs. The startups will have the opportunity to demonstrate the strength of their product with the country’s largest residential landlord while also benefitting the hundreds of thousands of New Yorkers who rely on NYCHA.
The 10 companies shortlisted were (in the order of their presentations): Citiesense, Carbon Lighthouse,Numina, BlocPower, Radiator Labs, ThinkEco, hOM, Pansofik, onTarget, and enertiv.
About MetaProp NYC
MetaProp NYC is the world’s premier real estate technology nexus. Based in the heart of Manhattan’s Silicon Alley, the MetaProp NYC 22-week Accelerator and 8-week Pre-Accelerator at Columbia University are the leading programs for high growth PropTech startups. Each year, up to 20 of the best technology driven real estate industry ideas are selected to participate in intensive education, mentorship and growth hacking programs, culminating in exclusive Graduation Defense panels and bi-coastal Demo Days for partners, investors, VCs and media. Founded in 2015, the accelerator boasts 100+ mentors, 10 renowned corporate partners and widespread media coverage from the Wall Street Journal, Forbes, New York Post, TechCrunch, Inman, Bisnow, Real Estate Weekly, and more. MetaProp NYC's team and strategic seed stage funds have invested in 60+ technology companies across the real estate value chain. The companies have raised more than $2 billion and employ 1,500+ people globally. MetaProp Advisors provides strategic advisory services, growth consulting, communications, event management and market research for real estate companies that are serious about innovation.
