The Luxembourg PropTech Association has just been launched. It aims to assist the PropTech ecosystem by enabling national players to discover, monitor, work or support local companies, and bringing in new skills to Luxembourg as a startup nation. A new national association on the verge to help the PropTech sector grow and that will likely attract European startups.
by: Silicon Luxembourg
photo: Olivier Minaire
featured: Laurent Rouach
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The Luxembourg PropTech Association a.k.a LuxPropTech will allow Real Estate players such as promoters, developers, constructors, service providers and Luxembourg (and European) PropTechs to meet in dedicated events, PropTech breakfasts, networking events and European awards ceremony.
PropTech is the term used to refer to technologies that are transforming Real Estate, as well as related products, services, and business models. It includes all innovations in the industry value chain and addresses all asset classes (office, logistics, healthcare, hospitality, retail and residential).
These innovations facilitate decision-making process in Real Estate. They render buildings and transactions more efficiently, enhancing the end-user experience and significantly lowering building maintenance and operational costs.
“LuxPropTech welcomes corporations that are active in the Real Estate or technology sector, professional investors and PropTechs.”
“Although Luxembourg has a dynamic market, a high-performance financial ecosystem (Real Estate funds, family offices), major players, a “startup nation” aspiration, several accelerators and incubators, richly endowed competitions, it does not appear on any PropTech map”, says Laurent Rouach, President of the Luxembourg PropTech Association.
A quick survey found 47 startups dedicated to Real Estate in the Grand Duchy. Unissu, a global PropTech platform, identified 2,700 PropTechs in Europe (6,000 worldwide). The sector continues to grow: The amount of funds raised for PropTech companies globally speaks for itself: $6b in 2016 and forecasted $20b in 2020.
Global actors have already taken position: The main world brokers (CBRE, JLL, etc.) as well as large construction companies (Vinci, Bouygues) are entering the game. The GAFAs don’t want to be outplayed either. Amazon, Microsoft, and Google joined the movement already with strategic investments.
“LuxPropTech welcomes corporations that are active in the Real Estate or technology sector (e.g Deloitte, BPI, Panhard Luxembourg, Wildgen, LBH, Inowai, Telkea), professional investors and PropTechs (30 as of today). Other relevant national organizations (e.g Letzblock, LBAN, Hub@Luxembourg) are also joining the initiative“, details LuxPropTech’s president.
“The visibility offered will allow our national PropTechs to reach clients, investors and partners in a way that will create rewarding partnerships and useful synergies.”
At the European level, a European Alliance called PropTech House was launched that gathers 14 national associations already. It aims to organize European events in view of enhancing the emergence and awareness of national actors.
On request of the European Commission, PropTech House co-organized the first PropTech StartUp Europe Awards in 2018. The European Commission thus acknowledges the importance and potentials of the PropTech industry.
This is the first European initiative giving visibility and supporting the most promising startups in Real Estate innovation. Such awards will be organized annually. As such, the 2019 competition is now open. The first selection will take place in Brussels at the beginning of May 2020, and the final competition for the 10 best European PropTechs will follow during the MIPIM PropTech in Paris in June 2020.
“We believe that the visibility offered from this type of events will allow our national PropTechs to reach clients, investors and partners in a way that will create rewarding partnerships and useful synergies”, concludes Laurent Rouach.