Berkadia Mentors CRE Startups In New Program
BeEngaged Network and BeEngaged Lab are two components of this new launch.
NEW YORK–Berkadia recently announced the launch of BeEngaged, a program within the firm’s Innovation Division which mentors startups in the commercial real estate industry. The new launch provides startups with strategic counsel, resources and an environment to test and grow new concepts.
BeEngaged has two components: BeEngaged Network and BeEngaged Lab.
“The BeEngaged Network works with partners by fostering mentorship, collaboration and resources through Berkadia experts, large industry players and venture capital partners,” says Eric Flohr, senior vice president of Transformation at Berkadia. “We provide feedback on business plans, examine their technology and we essentially learn all about each other.”
“We’re looking for ‘disruptors’ in the industry who are asking the tough questions and challenging commercial real estate’s status quo to create innovative, game-changing solutions,” according to Bryce Nyberg, who is director of Transformation and Innovation at Berkadia. “Technology’s impact on the industry has only begun, and by collaborating with these startups and cultivating emerging companies, Berkadia has set its sights on what’s next in efficiency and client service.”
Companies who participate in the BeEngaged Network, and who have proven potential for long-term growth and industry transformation, can also utilize the BeEngaged Lab.
“This forum of startups will partner with Berkadia for long-term initiatives, which in turn, allows participants to leverage Berkadia’s network and technical experience in the exploration of pilots, co-developments and technology testing,” says Flohr.
“The BeEngaged Lab involves in-depth mentoring on the design/architecture of the product. We literally roll up our sleeves and work together,” explains Nyberg.
Berkadia has already chosen startups to join the BeEngaged Network and begin receiving strategic guidance. Two of the participants include Real Factors and BlueSuit.
“Real Factor is an interesting platform that provides information tools and predictive insights to CRE research and investment professionals using alternative data,” Nyberg says.
Real Factors has already been acquired by 7Park Data, a Vista Equity portfolio company, since joining the BeEngaged Network.
BlueSuit uses machine learning and artificial intelligence and “takes the hassle out of pulling information from commercial real estate contracts,” says Fohr. “When onboarding a loan, most of the data we need has to be extracted manually by humans. With BlueSuit’s technology, we can utilize humans in other critical services areas.”