The starting signal has been given for the biggest start-up contest in the real estate sector. As of now, young technology companies can apply for the real estate start-up event at Europe’s biggest property trade fair. The Real Estate Innovation Forum at EXPO REAL 2018 is a showcase for innovations in the property industry.
“The Real Estate Innovation Forum was a resounding success last year”, explains Klaus Dittrich, Chairman & CEO of Messe München. “Its great popularity confirmed that we are on the right track in helping to promote the digital transformation of the real estate sector. That’s why we are continuing to provide a platform for those start-ups which are important to the property industry—while conversely giving real estate companies the opportunity to find out about digital possibilities and developments.”
Wolfgang Moderegger, founder of Real Estate Innovation Network, amplifies: “The Real Estate Innovation Network is the leading European platform for an exchange between technology start-ups, established companies, industry experts and investors against the background of advancing digital transformation in the real estate industry. The resources concentrated in the network enable the companies to implement digitization projects more quickly.“
Number of start-ups to increase from 25 to 75
In a contest advertised internationally, 25 out of a total of 700 start-ups qualified to take part free of charge in EXPO REAL 2017—with over 41,000 visitors, Europe’s biggest trade fair for property and investment. This year, the Real Estate Innovation Network is pursuing far higher targets: 75 start-ups on a good 750 square meters and more than 50 speakers in three days to elucidate the development and potential of digitization.
Digital change in the real estate sector
In terms of digitization, the real estate sector is still slightly behind industry as a whole, as was recently revealed by Deutsche Telekom’s digitization index for SMEs. 71 percent of the real estate companies surveyed did indeed report increasing sales through mobile applications, but the real estate companies attain an average of only 52 out of 100 possible points on the digitization index while the 10 percent of the companies most advanced in digital terms achieve 88 points.
The necessity of integrating digital change into the corporate strategy is now recognized by almost twice as many companies as one year ago. According to the study ‘Emerging Trends in Real Estate Europe 2018’ which is published annually by PwC and the Urban Land Institute, 85 percent of the real estate managers surveyed agree with the statement that advanced methods of data collection and evaluation as well as digitization will improve investment decisions for real estate. As in other sectors too, the long-term challenges of the real estate industry will be driven by digitization.
Application phase for start-ups commences now
As of now, start-ups can apply to take part in the five thematic areas along the property cycle: ‘Invest’, ‘Market’, ‘Plan & Build’, ‘Smart City & Work’ and ‘Manage & Operate’. The closing date for applications is March 23, 2018. The best 50 start-ups present themselves at a pre-pitch in Berlin on April 25 and 26. An independent advisory board from industry and science selects the world’s 25 best real estate start-ups, which can then present free of charge at EXPO REAL on October 8–10, 2018. A further 50 start-ups can apply for the possibility of assistance in exhibiting. Start-ups can apply here: https://www.real-estate-innovation.net/de/contest/