In the heart of India’s real estate sector, a quiet revolution is underway, driven by a vision to marry cutting-edge technology with sustainable building practices. At the helm of this transformation is Brigade Group, a pioneering force that launched Brigade REAP (Real Estate Accelerator Program) in 2016. Conceptualized by Nirupa Shankar, Joint Managing Director at Brigade, REAP is more than just an accelerator; it’s a catalyst for change, connecting early-stage startups with real-world challenges in the real estate sector.
Shankar, who appeared on Mint’s show Brick by Byte, anchored by real estate editor Vandana Ramnani, revealed that REAP was born out of a necessity to bridge the technological gap in the Indian real estate sector. “Most real estate companies spend less than 1% of their top line on technology. That includes hardware, software licenses—everything,” she stated, underscoring the urgent need for technological integration.
Over the years, REAP has mentored over 80 startups, selected from a pool of over 4,000 applicants. These startups have tackled a myriad of operational and infrastructure challenges, from smart water management systems that detect leakages and enable consumption tracking to indoor air quality monitoring and purification using real-time data. Other innovations include sensor-based lighting systems, contactless access for office environments, retail optimization using behavioural analytics, and sewage treatment systems that operate without chemicals or electricity.
The impact of REAP is evident in its success stories. Approximately 40% of the startups that have gone through the program have secured follow-on funding, a testament to the accelerator’s effectiveness in nurturing innovative solutions. However, recognizing the need to support later-stage startups, Brigade Group established Earth Fund, an investment vertical focused on scalable and sustainable technologies.
Earth Fund is not just about investment; it’s about meaningful participation in the growth of solutions that have already demonstrated product-market fit and operational viability. Shankar explained that Earth Fund allows Brigade to integrate these technologies into its core operations or contribute to broader smart city and sustainability goals.
While the real estate sector has seen significant technological advancements in areas like sales, leasing, and customer experience, the core construction process has lagged behind. Shankar highlighted a critical gap in innovation targeted specifically at the construction site, where the majority of the real estate workforce is employed. Tools that improve labor productivity, project speed, and efficiency are still underdeveloped in the Indian context.
Shankar also emphasized the importance of policy support in driving the adoption of sustainable building technologies. Mechanisms such as green credits, concessional financing for certified projects, and incentives for resource efficiency could be potential enablers for broader adoption. She believes that policy interventions are crucial in accelerating the integration of technology and sustainability in the construction sector.
As a second-generation executive at Brigade Group, Shankar oversees multiple business verticals, including land acquisition, project feasibility, and operational execution. Her role is not confined to a single function; she actively participates in project negotiations and strategic planning. She also highlighted Brigade’s internal structure, noting that the company is building capabilities not only in real estate development but also in innovation and sustainability through structured programs like REAP and Earth Fund.
Shankar’s approach to leadership is as dynamic as her professional responsibilities. Outside of her role, she maintains an interest in fitness and endurance sports, which she believes enhance her decision-making and situational analysis skills. Her involvement in strategic games like poker further sharpens her ability to navigate complex scenarios, a skillset that translates seamlessly into her professional life.
The story of Brigade REAP and Earth Fund is not just about technological innovation; it’s about a fundamental shift in how the real estate sector approaches sustainability and efficiency. As Shankar and her team continue to push the boundaries of what’s possible, they are not only transforming the industry but also setting a benchmark for others to follow. The ripple effects of their work are already being felt, inspiring a new generation of innovators to reimagine the future of construction and urban living.
