Is proptech the next big thing in tech?

November 28, 2014    |    Posted by    |    Interviews and Articles

Proptech is a becoming a popular term within the tech startup industry, and we predict that this is only going to get more popular. With the birth of Europe’s first ever property technology accelerator in London, is proptech going to become technology’s next big thing?

Currently headlining the proptech industry is undoubtedly, Zoopla Property Group. In June 2014, this business sketched out a promising future, as they set an Initial Public Offering (IPO) at the London Stock Exchange. This exciting news has had Zoopla Property Group’s competitors longing to walk in their footsteps ever since. However, news last month of a recent partnership might just create more businesses like Zoopla Property Group; a joint project by Cushman and Wakefield and Spire Ventures, has created Europe’s first ever Proptech accelerator, Pi Labs.

Faisal Butt, Pi Labs Founder and CEO: “We see Pi Labs as the platform that will create the next Zoopla, the next AirBnB and the next Nest”[1].

This new accelerator hopes to encourage passionate proptech startups to apply to join their specialist programme. Not only will it provide access to investment, it will offer mentoring and business space, overall acting as a force of encouragement for proptech startups bracing the property technology sector. With admissions now open, startups have the chance to apply to join the Pi Labs accelerator programme which is based in Shoreditch and set within ‘Second Home’, a brand new, unique 20,000 sq. ft. area[2].

This exciting news also comes in perfect timing with other recent investments circulating the tech space at present. These include Purple Bricks, who raised a staggering £8m, easyProperty, who raised over £1.4 million and Property Partner, whose significant seed funding round reached £1.25m. In light of this and the birth of the new accelerator, perhaps we will start to see more budding startups on the road to success within the proptech industry, for it is there where innovation and unique creativity has the potential to reach a whole new, unforeseen level.






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