Partnership aims to scale innovations to tackle Canada's housing supply shortage
Tech incubator DMZ and GroundBreak Ventures, a real estate venture capital firm, have joined forces to support and mentor Canadian entrepreneurs working on solutions to the nation's housing supply crisis.
This collaboration is part of the Canada Mortgage and Housing Corporation’s (CMHC) Housing Supply Challenge, a five-year initiative to reduce barriers to housing supply and promote innovative solutions.
"Together, we're accelerating the deployment of cutting-edge housing technologies and championing a sustainable and inclusive approach to urban development," said Sherif El Tawil, senior director of programs and global operations at DMZ.
As an official scaling hub for the CMHC’s level-up round, DMZ and GroundBreak Ventures will provide tailored support to eight selected innovators.
The eight companies, including Indigenous and French-operated businesses, specialize in innovative financing, modular construction, community housing development and real estate data platforms.
These semi-finalists will benefit from expert-led mentorship, business coaching, peer support, and extensive networking opportunities. The goal is to scale their innovative housing solutions and enhance how housing is delivered across Canada.
"The innovation economy is pivotal in addressing Canada's housing crisis, driving innovative solutions that streamline building processes and significantly reduce costs," El Tawil said in a media release. "The housing crisis needs to be a collaborative approach, and we're committed to making safe, sustainable housing accessible to all Canadians."
DMZ and GroundBreak will provide the companies with expert mentorship, business coaching, peer networking and other resources to help scale their solutions across the country.
"Issues surrounding housing affordability and sustainability are top-of-mind for virtually all Canadians," said Scott Kaplanis, Managing Partner at GroundBreak Ventures. "Investing in and embracing homegrown technology and innovation is crucial to unlocking the productive capacity of our real estate industry."
The multi-year, $300 million Housing Supply Challenge aims to break down barriers by fostering innovative approaches to accelerating housing development nationwide.
In addition to DMZ and GroundBreak, other CMHC-designated Scaling Hubs for the Level-Up round include Foresight Canada, The Decision Lab, Highline Beta and the University of Toronto's School of Cities.
The collaboration builds on DMZ and GroundBreak's existing partnership through the PropTech Incubator stream, which helps real estate and property technology startups grow their ventures.
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