Global Urban Village —Laying the foundation for affordable housing in Southeast Asia
We sat down (virtually of course!) for a heart-to-heart with Ian Fishburn and Lisa Hanson, co-founders of Global Urban Village, and our valued partners in the ShelterTech accelerator Southeast Asia, to find out how they felt about the program, our journey together, and their vision for affordable housing solutions in the future. Read on to find out what they had to say.
Tell us about Global Urban Village and how you got involved in the ShelterTech accelerator program.
GUV: Global Urban Village was founded in 2018 to support entrepreneurs with social and environmental businesses. We set out initially to learn more about the impact investing ecosystem by doing a landscape study exploring East, South, and Southeast Asia meeting with over 60 contacts including investors, entrepreneur support organizations, foundations, and others to better understand the needs and opportunities in the market. We then focused in on Southeast Asia and identified partnerships where we could contribute consulting and investment expertise.
We connected with Villgro through a shared interest in supporting affordable housing innovations. After discussing the ShelterTech project with Habitat and exploring ways to work together over the course of about a year, we decided to pursue the RFP to lead the first ShelterTech Accelerator in Southeast Asia. Our partnership had great complimentary qualities from the start, Villgro has deep experience in incubation, and we had deep experience in real estate development and housing innovation, group facilitation, and an investment and professional network to add to Villgro’s expansive regional ties.
What were the dynamics of your partnership with Villgro once you kicked off the ShelterTech Accelerator?
GUV: We worked directly with CEO, Priya Thachadi and her team on all elements of the project with an emphasis on program development, selection process and due diligence, facilitation including a two-day learning lab on investment readiness, and providing the lead mentor role.
Selection: The selection process was rigorous. We had 100 applicants from around the region and our process involved evaluation by Villgro and GUV to narrow down to 20 finalists, then to perform a due diligence interview for each applicant. When we hosted the event with our selection committee, we provided the input of our scores and additional information during deliberations based on due diligence. In the end the committee made the final selections and delivered a great, diverse cohort of exciting solutions to the program!
Program: Our approach with program work was to bridge the different stages and solutions represented by the cohort with frameworks and strategies that can be applied by early and scaling stage companies. In the investment readiness trainings, we took an approach that allowed the cohort to identify where they were at in the investment journey and gain insights on the process of investment readiness from start to finish, from understanding the investment landscape to growing your network, to calculating valuation and justifying your investment ask.
Mentorship: Ian’s extensive background in real estate development, investment, and material innovation made him well positioned to play the Lead Mentor role for the program. Working closely with Katherine Khoo, Program Manager, along with private sector and corporate mentors they developed 100-day plans for each organization and worked to meet those targets throughout the program. Goal setting, financial modeling, and introductions to valuable network contacts were at the heart of the mentoring process.
ShelterTech brought together a number of partners to work together. Can you share a little bit more about the collaboration between GUV and Villgro, what that experience was like, and how important collaboration is especially in solving critical challenges like housing?
GUV: We worked hand in hand on every aspect of the project, attempting to bring the combined skills and experiences of both of our organizations to the table. That meant problem solving and being resourceful at every turn to ensure that this first of its kind all virtual accelerator was dynamic and meaningful. Sometimes that meant that we would bring in industry contacts from a global perspective to portfolio meetings to advise the entrepreneurs, sometimes Villgro would bring in alum from their other programs, or highly skilled guest trainers they knew, and often we would brainstorm and work across several time zones to bring about the best program and opportunities possible for the cohort.
What kind of housing innovations do you see reshaping the affordable housing sector in Southeast Asia?
GUV: Materials innovation are a core lever for making housing more affordable, and in addition to that it’s clear that innovation in building materials and structures alone are not enough to make a house livable. Reshaping the affordable housing sector is about improving accessibility and livability. That means that innovation can take the form of financing, tech platforms to make renting more accessible or utilize vacant spaces, that can also mean the additional services that make a house a home such as power, connectivity, and water. The next phase of affordable housing innovation and investment needs to be holistic in its approach with livability as a focus.
What do you look forward to the most from the cohort, having worked with them through ShelterTech?
GUV: We have seen many great accomplishments already in the time we have been working with the cohort that make us optimistic for the achievement of their investment goals. Each of the entrepreneurs has refined their investment strategies and asks, including well practiced, exciting pitches and sound financial modeling. Some have achieved sufficient cashflows this year to make near term growth goals possible without immediate investment. We are looking forward to the impact these solutions will make on the lives of many people as a result of the work of each of the participants.
What was your favourite part about working on this program?
GUV: The energy and willingness of the entrepreneurs was really inspiring over the course of the 7-month program. When we were going deep and technical on investment readiness they stayed on track and asked great questions, when we asked them to cut loose with a little physical fun to break up a long Zoom meeting, they were willing, when guest speakers or investors delivered tough feedback they were receptive and used that info to make their pitches and business models stronger. This ability to show up and stay dedicated made the work fun and the results exceptional.
As Lead Mentor for the ShelterTech accelerator Southeast Asia, Ian Fishburn has had a ring-side view of the workings of the cohort startups.
Ian says, “It was so gratifying to see how focused and dedicated the entrepreneurs were in pursuing their goals, especially in the face of additional challenges posed by the pandemic. They went beyond the goals we set together and were so impressive in what they were able to accomplish.”
