This merger constitutes a big step in their joint mission to ease and accelerate the digital transformation of the local construction and real estate sector.
2021 was a big year for Luxembourg’s PropTech sector and beyond with global investments reaching record heights of $32 billion.
As LuxPropTech, Luxembourg’s construction and real estate innovators network and PropTech Lab, the Belgian equivalent, begin their merger this trend is bound to continue in 2022.
A natural continuation of the existing relationship between both networks, the merger will simplify the “high intensity of business interactions between both geographies” comments Idriss Goossens, Founder and Executive Chairman of PropTech Lab.
With both countries’ PropTech sectors having evolved at a similar rate but lacking in certain areas of development, the merger also supports their ambitions to complement their knowledge gaps.
“The two PropTech markets are complementary and combining them increases the scope of the solutions available. To name a few examples: Luxembourg was missing solutions of residential after sales and smart parking (which is covered in the Belgian ecosystem) and Belgium was missing tokenization and blockchain technology (which is covered in the Luxembourg ecosystem),” explains Idriss Goossens.
Members Benefit
It is not only both countries’ PropTech sectors that will benefit but especially the members of both networks.
“Our members will greatly take advantage of our move because the value for money has more than doubled: startups will benefit from geographical expansion opportunities while corporates will be able to source innovations in a huge pool,” says Noémie De Crombrugghe, CEO at PropTech Lab.
Members will also get access to a host of new features as well as a combined network of 99 corporates, 154 PropTech startups and scaleups, 17 VCs and 17 service providers.
“LuxPropTech members will have access to new features, including a member’s online platform with a database of the other members, replays of previous events, matchmaking features, call for tender, and, of course, we have been asked for value-added services for corporates and startups,” says Laurent Rouach, Founder of LuxPropTech.
This is a big step for both networks and looking ahead Idriss is not shy to admit his ambitions. He hopes that the merger will result in “a 5-year jump into the future” for both countries’ sectors which they aim to attain with new services such fundraising, workshops, fast-tracks to innovate and more.
