4 October 2018
Union Investment and GTEC launch PropTech Innovation Award 2019
International tech competition for innovation in real estate getting under way for the third time / EUR 40,000 prize money / Access to attractive network including RICS and Reed Midem
The PropTech Innovation Award has created a new international network that allows young tech companies to access the innovation potential of the real estate sector, with concrete opportunities for leveraging established business models and emerging digital ecosystems. “For many non-German startups, the PropTech Innovation Award with its integrated network and its ‘showcase’ in Berlin is the key to the German real estate market. It will be exciting to see which new digital business models come out on top in our competition in 2019, giving them the opportunity of a flying start in Germany,” said Jens Wilhelm, a member of the Executive Board and Chief Investment Officer of Union Asset Management Holding AG.
The competition opened for entries on 1 October 2018. Property fund manager Union Investment and the German Tech Entrepreneurship Center (GTEC), based in Berlin and Frankfurt respectively, are organising the international PropTech Innovation Award for the third time. Entries can be submitted up to 15 February 2019. The competition platform can be accessed at http://gtec.center/proptech2019. The tech competition is again being supported by RICS, the global professional body for real-estate standards and thought leadership, and Reed Midem.
The high number of entries in the first two years confirms the competition’s clear focus and well-developed format. The global PropTech Innovation Award 2019 will recognise the best digital solutions and concepts for the real estate world of tomorrow. The competition features prize money of EUR 40,000 and the awards ceremony will take place on 16 May 2019 in Berlin, Germany’s creative and startup capital. The main prizewinner will also benefit from special visibility at the international MIPIM Startup Competition in Paris, New York or Hong Kong, to be held in 2019/2020.
Broad spectrum of the Award
“In its first two years, the competition attracted more than 330 entries from 46 countries and demonstrated the incredible diversity of new business models possible within the real estate value chain,” said Jens Wilhelm. “The third iteration of the competition will reveal which of the many digital trends – from blockchain and the Internet of Things to big data – has the greatest potential to become a game changer in the property sector.”
“We are delighted to be staging the Award for the third time. We can demonstrate that connecting established companies and startups delivers substantial added value for business and society. This is a fantastic platform for our mission of promoting entrepreneurship and technology,” said Benjamin Rohé, managing director at GTEC. “The previous Innovation Awards with their various innovation fields provided powerful proof that this type of exchange enables long-term partnerships and collaboration between startups and major corporations, making this competition a ‘must have’ for businesses seeking to engage with startups in a structured and moderated manner.”
Prizewinners showcase innovative variety
At the PropTech Innovation Award 2018, Physee from the Netherlands emerged victorious from the 130 entrants. In the final round, comprising eleven startup companies, the firm impressed the jury with its innovative proposal for data and electricity-generating windows that enhance the energy efficiency and user comfort of buildings. The second prize went to HiP Interactive Property of the UK, with its pioneering platform for real estate financing. Czech firm Spaceti won third prize for its productivity-boosting smart-building solution. The previous year’s prizewinners included Berlin-based companies Green City Solutions and Architrave.
For Union Investment Real Estate GmbH