The 2018 intake for the EG Tech Academy has opened and EG – along with our partners KPMG, CBRE, Legal & General Real Assets and Pi Labs – is looking for both pre- and post-seed start-ups that can deliver innovative tech or data solutions for the built environment.
Whatever your idea, we are interested in seeing what you have to offer a rapidly evolving real estate environment. To help you make the most of your entry, over the next few weeks we will be finding out from EG’s Tech partners – each of which is offering six hours of hands-on mentoring with leaders within their businesses for our shortlisted entrants – just what they are looking for.
This week we met Nick Wright and Mike Gedye of CBRE to find out what they will be offering potential finalists.
EG: What are you most looking forward to about this year’s EG Tech Academy?
NW/MG: The opportunity to gauge which new technologies are being talked about and coming to market. It is also interesting to hear what start-ups are thinking about the commercial real estate world and what opportunities and challenges they see in engaging with the market. And it is always good to rub shoulders with people from across the industry who are interested and responsible for driving the tech agenda, and finally, to see some new technologies presented.
EG: What do you think is the biggest/most exciting problem that needs solving through tech in the built environment?
NW/MG: The industry now accepts that technology is an integral part of the future, and can be used to facilitate positive change. The real challenge for organisations is how to use what they have to drive real insight from their data to improve customer outcomes and deliver better investment decisions. Technologies that are able to help organisations build on what they have will be the most valuable and exciting.
EG: What should potential Academy finalists make absolutely sure they include in their entries?
NW/MG: We’ve seen a number of start-up ideas which are well thought through but actually don’t solve any real-world problems. We’d like to see entrants highlight why their idea is a solution to an industry problem and make a point of what knowledge/experience/understanding they have about the real estate sector.
EG: What type of tech solutions are you most excited to see pitched?
NW/MG: We’re looking forward to seeing ideas that are providing real solutions to CRE problems. Those that are focused on helping CRE organisations to use what data and insight they have to help provide competitive advantage. We don’t want to hear about Blockchain.
EG: You are going to offer up mentoring for shortlisted parties, what can finalists expect from you if they secure this invaluable opportunity?
NW/MG: We’re going to offer up people’s time from across CBRE. These will be people from strategic consulting, technology and relevant subject matter experts. The entrants can expect to receive robust challenges to and advice on their business plan and how that can be shaped to go to market and developed for the pitches. We will also provide access to professional design capability for the pitch and time for coaching and rehearsal.
How to enter
To enter the EG Tech Academy 2018, e-mail your submission to techtalk@egi.co.uk. Submissions should include your business/idea, how it will be utilised in the built environment, evidence of the size and value of the market, and customer testimonials. See below for full entry criteria.
The closing date for entries is 5 October 2018.
Pre-revenue
For teams or companies which may be pre-product or in trials, but with no paying clients.
Please provide:
■ Details of your business and idea and how it will be utilised within the built environment.
■ Evidence of the market, including a detailed market-sizing report on the scale of the opportunity.
■ Customer validation.
■ Plans for founders to go full time soon and commit to the venture.
Post-revenue
For companies that have already generated some income through paid trials or subscriptions.
Entrants in this category should have a full-time team, have a cumulative revenue of less than £250,000 and must not have received funding in excess of £250,000 (including investment, loans and grants).
Please provide:
■ Details of your business and how it is being utilised with in the built environment.
■ A detailed market-sizing report, showing the scale of the opportunity.
■ Evidence of a strong grasp of your business’s financials, unit economics and business model.
■ Customer testimonials.
Find out more about the Tech Academy here.
To send feedback, e-mail or tweet @Samanthamcclary or @estatesgazette
