NAR Recognized for Startup Savvy
July 12, 2017
Every year, researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University, and the University of Richmond examine the hundreds of programs that market themselves as accelerators. This year, Second Century Ventures' REach® program, operated by the National Association of REALTORS®’ strategic investment arm, was named among the top 30 in the nation.
“NAR’s REach® program is the perfect example of the innovative strategies that the association has taken to enrich our members and their business, and being named among the top accelerators in the country affirms our success,” said Dale Stinton, president of SCV and NAR CEO.
REach® guides the development of startups and new technologies that will impact the real estate industry. The program differs from other accelerators in both its focus on real estate and in its concentration on startups' early to mid-growth stage. The program leverages the association’s 1.2 million members and a network of executives within real estate and related industries to help improve startups' offerings.
Now in its fifth year, the Seed Accelerator Rankings Project aims to provide transparency so that entrepreneurs can make an educated decision when choosing from programs that aim to guide bright ideas and innovations to market success. Researchers reviewed performance metrics and solicited feedback from alumni of over 150 startup accelerators to come to their rankings, which were compiled into five categories: platinum plus, platinum, gold, silver, and bronze. This is the first time that REach®, which received a silver ranking, has been included on the list.
NAR's accelerator program has accepted 40 companies so far, with the current class of nine companies running through November 2017. NAR's incoming CEO signaled the program will be an important part of his vision for the association. “The future of the real estate industry depends on forward thinking and the adoption of technology that benefits consumers and agents,” said Bob Goldberg, currently a Second Century Ventures officer and NAR senior vice president of business development. “One of my top priorities for the future is to continue to successfully leverage REach® and SCV’s technology investments to expand the value that REALTORS® bring to the real estate transaction.”
Source: "The Best Startup Accelerators Of 2017," Forbes.com (June 7, 2017) and "REach® Technology Accelerator Named Among Best in Nation," NAR (June 12, 2017)
Updated: October 15, 2019