Thanks for reading “Innovation and Proptech News”, a weekly newsletter with 5,600+ subscribers providing content about technology trends and market insights in the Proptech world. Globally.
At the PTC, we sit in the middle of the Proptech ecosystem + our role is to act as the bridge between every participant - tech buyers, Proptechs + investors - ultimately bringing real estate + technology together. This week we will explore a couple of the areas we have identified that make the sector so unique.
One of your “5 a day”
Can you think of a word that perfectly rhymes with Orange? (answers at end). That is the level of difficulty faced when we are asked to define Proptech. It is our view that you can but it's not easy - breadth, terminology, classifications - plus many more factors are at play.
At the PTC, we have developed our own in-house taxonomy + data dictionaries to distil our global database + the world of Proptech. Yet every day we find out new ways to look at the market + update these. It’s a constantly evolving beast.
However, defining Proptech is not the only unique aspect of Proptech.
Bayern Munich v COVID (Away win predicted)
For the soccer aficionados, the International Centre for Sports Studies did a study in 2020 into how the lack of crowds due to COVID restrictions impacted home advantage for soccer teams. Pre-COIVD, in the German top league (the Bundesliga) 45.8% of games recorded a home win. During the pandemic, where there was no crowds, Home Wins accounted for only 31.7% of total matches - a movement of 14%.
What the heck does this have to do with Proptech? Well, according to the team at MetaProp most of the Unicorns in the Proptech Space are either in the USA or China.
This concentration of success is for a number of reasons - the benefits of China + the USA’s large “home advantage” owing to their size, coupled with the limited number of global RE customers in market - being two.
It is a phenomenon that is quite unique to Proptech however and if we look at Fintech, the USA has 50% of Unicorns and the next 25% is split between Europe, Brazil, China and India with the remainder split over another 10+ countries.
For Proptechs + tech buyers this is a problem. It illustrates the difficulty endured by new technologies to get in front of the right international buyer and for buyers to get access or visibility to these leading global techs can be expensive and time consuming.
At the PTC, our unique global network + processes helps both the Proptechs and tech buyers overcome this. With a network in over 90 countries we have the right solution to meet your strategy or investment thesis.
There are many more nuances within Proptech. As experts in the space, who have performed every role at the table - Proptech investor, Proptech buyer and worked with multiple Proptechs - we are your go to source to help you navigate these.
Please do get in touch should you want to learn more about what we do, such as "market insights", "Origination as a Service", "Innovation as a Service" or anything else you think we can assist with?
Words that perfectly rhyme with Orange?
It’s a trick question. No words do. Have a great week....!
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