REACH Labs recently launched the first multi association and MLS Lab with Mainstreet Organization of REALTORS® (MORe), Chicago Association of Realtors® (CAR), North Shore Barrington Association of Realtors® (NSBAR) and Chicago Midwest Real Estate Data (MRED). REACH Labs Chicagoland has a combined reach of over 46,000 members.
Chicago represents a deep pool of startup innovation with Chicago tech firms raising $7B in 2021, according to venture data firm Pitchbook, making it a priority market for REACH Labs, and a significant opportunity for startups in real estate or adjacent industries.
“We are thrilled to establish the first multi-association REACH Labs program in Chicago, where the startup scene is thriving,” said Dave Garland, managing partner, Second Century Ventures. “This partnership will set the stage for tech entrepreneurs to scale their businesses by meeting the needs of a dynamic Realtor® community.”
The REACH Labs program was initially piloted by the Austin Board of REALTORS®, Denver Metro Association of REALTORS®, Miami Association of REALTORS®, and Northern Virginia Association of REALTORS®. It has since grown to eight Labs including Greater Tampa REALTORS®, Metro Texas Association of REALTORS®, Orlando Regional REALTOR® Association and the multi-association and MLS group in Chicagoland .
Combined, these REACH Labs have held six Innovation Showcases which collectively presented 16 unique startups with the member audience. Eight additional Innovation Showcases are scheduled in Q3-Q4.
REACH Labs are operated by local REALTOR® associations or MLS’, with support from the REACH team. Associations leverage well-established REACH processes to establish relationships with local investors, incubators, university programs, and entrepreneurs to meet startups focused on technology that supports and advances the entire real estate ecosystem. Selected startups are presented to members through interactive Innovation Showcases. There is no investment commitment by SCV, REACH or the local association.
For more information about NAR REACH Labs, or to get involved, connect with the REACH team in the resource table area at the 2022 Leadership Summit, or visit us online at https://nar-reach.com/labs/ .