PropTech accelerator UrbanLab evolves to version 3.0
China-based PropTech accelerator to increase focus on technology enablement and decarbonization of the built environment.
Shanghai, August 15, 2022 – UrbanLab, China’s first corporate property technology (PropTech) accelerator and innovation program, founded by JLL and other real estate leaders, today announced its reboot. In its latest version, UrbanLab 3.0 will focus on innovative technology solutions that empower the real estate industry to achieve carbon neutrality in China.
JLL believes that achieving “the emission peak and carbon neutrality” will trigger a profound transformation across industries in China. PropTech companies focusing on carbon neutrality, sustainability, energy management, and advanced analytics will likely to see high growth. In JLL’s latest sustainability survey, the majority of Chinese companies see the lack of technological infrastructure as a major obstacle to realize their net zero goals.
The UrbanLab program invites entrepreneurs, start-ups, and industry leaders to foster and develop a sustainable PropTech ecosystem to accelerate the decarbonization journey. As an UrbanLab partner, JLL will work closely with technology start-ups on proof-of-concept, product validation, industry network, and potential business partnerships.
Bessie Lee, Chief Executive Officer, JLL Greater China, says “I am delighted that JLL is working closely with Swire Properties, Shui On Group, Goodman Group and Saint-Gobain Group on UrbanLab 3.0. Together, we hope to infuse more innovative ideas and accelerate the commercialization journey. We’re confident that China will take the opportunities to show the world that technologies embedded in the traditional real estate industry can make a big difference. This is also the JLL’s ambition on PropTech as well as UrbanLab.”
Yen Lee, Chief Strategy Officer, JLL Technology, says “As a global champion for proptech innovation, JLL demonstrates our commitment by increasing technology investment in the Chinese market. Research shows that nearly 40% of global carbon dioxide emissions come from the real estate sector, and we believe that technological innovation will play a key role towards net zero. We look forward to having startups joining forces with us in this journey leveraging technology to continuously reduce our industry's footprint.”
As the co-founder and driver of UrbanLab, JLL set up a corporate venture arm JLL Spark in 2017, which has invested over $340 million across more than 40 PropTech startups since then. Its portfolio consists of global technology startups that support JLL and its clients with data-driven solutions in environmental, social, and governance (ESG), financial technology (FinTech), construction technology (ConTech), smart buildings, the future of work, and logistics/supply chain. JLL Technologies (JLLT), which is dedicated to accelerating business innovation within JLL, is also key to this broader commitment. JLLT integrates the company's technology and digitalization initiatives to help real estate investors and corporate clients accelerate their innovation.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.