- The third edition received over 300 projects from 24 different countries, almost double the number of projects received last year.
- The Europe-wide challenge was led by Spain for the third consecutive year
- The most popular technologies included in this year’s edition are Machine Learning, Artificial Intelligence, Big Data and the Internet of Things.
HEPTASENSE and CITYINTELEKT have been announced as the winners of CBRE’s PropTech Challenge third edition, the first Europe-wide challenge that seeks out digital talent capable of revolutionising the world of Real Estate via innovative and disruptive ideas launched by CBRE a leading consultancy and Real Estate services company.
“This year’s challenge was hard-fought, receiving almost double the number of projects compared to last year. Participants put forward high-quality and professional projects, which were assessed by a panel of internal and external judges, based on three criteria: Impact, Innovation and Feasibility”.
Heptasense, developed in Portugal, won the Impact Startup category. This initiative allows us to understand the behavior of users in spaces and buildings, through software installed in CCTV. An artificial intelligence algorithm makes it possible to track and geolocate all objects of interest (people, vehicles, bicycles, etc.) by providing new metrics such as dwelling time, counting of vehicles or even suspicious behavior as a way of boosting property security. This solution can be applied to a range of property types, including shopping centres, offices and hotels.
CityIntelekt, from the United Kingdom, won the Disruptive Idea category. This initiative provides greater access to social intelligence via Machine Learning. The algorithm collects social, political and economic macro data, to help owners analyse and predict how these factors could affect the properties in their portfolio.
Both winners will receive awards and cash prizes of €20,000 (Impact Startup) and €10,000 (Disruptive Idea), as well as gaining the opportunity to take part in a Roadshow around CBRE’s main offices in Europe with access to a fast-track programme. This allows them to scale up their business model, as well as to receive mentoring sessions from industry experts.
CBRE’s PropTech Challenge was led by Spain and supported by CBRE’s European office network, which helped encourage people from all over the world to participate. Overall, 302 projects were submitted by 24 different countries, 87 of which were from Spain. The projects are aimed at a range of segments within the Real Estate sector, primarily for offices and residential, followed by retail, alternative assets and hotels. The most popular technologies applied to projects in this year’s edition include Machine Learning, Artificial Intelligence, Big Data and the Internet of Things.
CBRE’s PropTech Challenge is part of the CBRE PropTech open innovation platform, which has blossomed into the number one startup and entrepreneur’s community which allows to promote projects, benefit from CBRE’s network, and express their views via the collaborative platform.