ShelterTech Accelerator with bold vision for the affordable housing sector | The regional ShelterTech accelerator for Habitat for Humanity culminates with a bold vision for the affordable housing industry. Following seven months of support and coaching from leaders in the technology and impact investing sectors, ten Southeast Asian companies pitched their housing solutions.
(via ACN Newswire) – MANILA, July 16, 2021 – The 10 businesses presented their work and progress to date at a Global Summit to mark the end of Habitat for Humanity’s ShelterTech accelerator in Southeast Asia, followed by reflections from investors and ecosystem partners on why innovation in the affordable housing sector is vital. ShelterTech, which began in 2017 with accelerator programs in Mexico, India, and Kenya, has expanded into a global platform for connecting innovative ideas, goods, and services in affordable housing, with a particular focus on solutions that operate in the context of the COVID-19 epidemic. Housing is a high impact investment category, according to ShelterTech.
“ShelterTech collaborates across sectors, industries, and regions to bring together the most innovative and effective housing solutions for low-income families all around the world. We selected the Southeast Asia cohort’s 10 companies because we believe they will make important contributions to alleviating the global housing crisis “Jonathan Reckford, CEO of Habitat for Humanity, spoke at the Summit’s opening. The accelerator, which debuted in Southeast Asia in July 2020, drew more than 100 startups fighting for a spot on the world’s premier platform for affordable housing innovation.
In late 2020, startups from Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, and Singapore were chosen for the program. The ventures completed a seven-month acceleration process that included learning laboratories, masterclasses on housing and business topics, dialogues with regional investors, and one-on-one mentorship with seasoned experts from global corporations such as Hilti, Dow, and Autodesk, in addition to an initial catalytic grant of US$10,000.
During the pitches, businesses detailed their progress since joining ShelterTech and their intentions to provide affordable housing products and services to the region’s millions of low-income families. CUBO Modular, a company located in the Philippines that makes bamboo-based modular homes, has sold out of all of their award-winning homes for the rest of the year. The “magic box” developed by Sampangan converts garbage into activated carbon, which is used to make building materials. The Indonesian startup has signed new contracts with the Indonesian government and the country’s largest startup to manufacture more long-lasting items from waste materials.
ShelterTech will continue to provide exposure and growth opportunities to businesses after the Global Summit, while also growing its close-knit network of ventures and partners. Other national and regional accelerators in industries such as PropTech and smart cities will work with the platform to add an affordable housing track into their curricula.
In the Andean region of South America, a parallel accelerator and Summit took place. To date, ShelterTech has aided over 60 companies and scaleups around the world. The accelerator was run in Southeast Asia in collaboration with Villgro Philippines and Global Urban Village.