8 March 2018
Huge digitisation potential in the real estate industry: countdown to the PropTech Innovation Award
On 16 May, Union Investment and the German Tech Entrepreneurship Center (GTEC) will host the final of the PropTech Innovation Award 2018 in Berlin. Company founders and young entrepreneurs have until 15 March to enter this year’s round of the global technology competition by submitting their digital business ideas for the real estate sector. The PropTech Innovation Award 2018 carries total prize money of EUR 40,000. The nine best proptechs from around the world will be invited to pitch their ideas at the final in Berlin, Germany’s startup capital. The winners will be selected live at the event by a panel of nine expert judges.
Each of the nominees will be supported by one of the judges, who will help them to prepare their pitch. Around 300 guests from the startup scene and the real estate sector are expected to attend the showdown and networking event, which will be held at one of Berlin’s hottest event locations – Säälchen on Holzmarkt square. This year, the PropTech Innovation Award is being supported by real estate industry association RICS and by Reed MIDEM, organiser of the MIPIM property trade show.
“The scale and impact of blockchain, digital data rooms and artificial intelligence on the real estate industry were only just starting to make themselves felt a year ago at the first PropTech Innovation Award. Few people thought that the new ideas emerging from the digital startup scene would be embraced so quickly, and that a year later they would already be disrupting the processes and business models of established real estate companies,” said Jörn Stobbe, managing director at Union Investment Real Estate GmbH and a member of the jury. “It will be exciting to see what topics are put on the real estate industry’s agenda by the participants in this year’s competition. The potential for digitisation is huge.”
“The changes we are currently experiencing transcend regional borders. Like the new generation of company founders, the real estate industry also needs to start thinking internationally when it comes to innovation,” said Maarten Vermeulen, regional managing director for Europe, Russia & CIS at RICS. “The PropTech Innovation Award sets the right benchmark, particularly for RICS and our members.”
In line with the high professional standard of the competition, the jury for the PropTech Innovation Award 2018 comprises experts from a range of disciplines and with a strong international background. Deciding on the best digital solutions for the real estate industry this year will be Maarten Vermeulen of RICS, Claire Penny of IBM Watson IoT, Maurice Grassau of Architrave, Christian Schulz-Wulkow of EY, Nikolas Samios of PropTech 1 Ventures, Judi Seebus of PropertyEU, Prof. Wolfgang Schäfers of IREBS, Jörn Stobbe of Union Investment and Benjamin Rohé of GTEC.
“In establishing the PropTech Innovation Award together with Union Investment, we have essentially created the industry standard for innovation support,” said Benjamin Rohé, managing director at GTEC. “We are honoured to be supported by RICS, the internationally renowned trade body for the real estate industry, and we and our partners are looking forward to the award ceremony in May.”