REBNY’s second annual competition designed to encourage innovation in the real estate market.
Connected Real Estate Magazine, the flagship publication of Fifth Gen Media, announced it will join the Real Estate Board of New York’s (REBNY) second annual PropTech Challenge as The Silver Sponsor of the Internet of Things (IoT) Category. Initially launched in 2018, the PropTech Challenge encourages innovative thinkers and software developers to create cutting-edge solutions to the challenges facing New York’s real estate industry. Last year’s PropTech Challenge fielded 44 submissions from 82 participants from around the world. Given how crucial strong connectivity is to PropTech, Connected Real Estate Magazine’s participation made for an ideal fit.
“As a leading provider of news and information about wireless, connectivity and technology, we are delighted to support the 2019 PropTech Challenge,” said Connected Real Estate Magazine’s founder Rich Berliner. “Helping to bring together information from software developers, hardware manufacturers, the connectivity that all of this rides on and how it works in harmony, is at the heart of what our readers want to learn about. We joined the PropTech Challenge to continue our leadership in getting CRE executives the information they need to maximize the IoT opportunity.”
“As New York continues to grow as a city, the tools property owners use to be more energy efficient, sustainable, and resilient must also continue to evolve,” said John J. Gilbert III, Chief Operating Officer of Rudin Management Company and Co-Chair of the REBNYTech Committee. “Encouraging international competition between companies engaged in this space will help make New York a better place to live, work, and raise a family.”
New York State Energy Research and Development Authority (NYSERDA) Oxford Properties, Vornado, Fisher Brothers, Rudin Management, Eastdil Secured, and Reonomy will also sponsor the PropTech Challenge.
Registration for the 2019 PropTech Challenge is now open. The competition comprises two categories and the winning team in each category will take home a $12,500 grand prize. REBNY encourages software developers interested in real estate and/or IoT technology, existing apps in the real estate and construction industries, and startups in the real estate technology space to participate. Eligible applicants can participate as an individual or as part of a team of up to five. Participants will work across two challenge categories—Operations & Maintenance and Internet of Things—within a four-week window to submit a written and video presentation that displays their solution and business plan by October 6, 2019.
Leading REBNY members, industry experts and sponsors will make up the panel judging the participants. The panel will review each submission and determine finalists by the originality, strategic value, practicality, future value to the industry, and overall quality of submission materials.
The three finalists for each category will be invited to present a five-minute live video of their solution on Demo Day and a question and answer session from the panel will follow. As part of MIPIM PropTech NYC, the PropTech Challenge Demo Day event will be held on Wednesday, November 13 at the Metropolitan Pavilion in New York City. In addition to cash prizes, each category winner will be invited to participate in the MIPIM Start Up Competition final to be held in Cannes, France on March 12 – 15, 2020.
“Participants in the 2019 PropTech Challenge will drive innovation with comprehensive PropTech solutions to address key challenges facing the industry,” Meridian Capital Chief Information Office Sandy Jacolow said. “Our Challenge will showcase New York as the PropTech capital of the world, proving again that New York is the undisputed Real Estate capital of the world.”
“The 2018 PropTech Challenge demonstrated the power of this international competition for New York most important industry,” REBNY Chief Technology Officer Christopher Beach said. “The 2019 PropTech Challenge will build upon those successes and help bring new ideas to build and maintain the very best New York City possible.”
“For its fourth edition, MIPIM PropTech is again gathering leaders from the real estate industry and from the tech ecosystem to foster digital transformation in the built environment,” Nicolas Kozubek, Director of MIPIM PropTech Real Estate Division said. “Hosting the PropTech Challenge is an honor and an easy decision to make. We expect around 2,000 delegates to join this year, giving to PropTech Challenge an amazing exposure. We are grateful to REBNY for taking this opportunity.”