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 sector. 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 meet Andy Pyle, head of UK real estate at KPMG, to find out what it will be offering potential finalists.
EG: What are you most looking forward to about this year’s EG Tech Academy?
AP: It is an exciting time for the real estate industry as incumbents engage more and more with technology and innovation, and the rapidly growing proptech sector continues to evolve and mature. We are excited to see what new solutions are being developed, whether they are alternative approaches to previously acknowledged pain points or addressing entirely new areas of the market. It will also be interesting to see what has been learned over the past 12 months, both from experience within the industry and from observing other sectors, such as fintech.
EG: What do you think is the biggest/most exciting problem that needs solving through tech in the built environment?
AP: There is huge potential in the industry to make better, faster and more reliable decisions through harnessing the vast swathes of data that organisations have access to. However, many are grappling with the challenge of aggregating this data and structuring it in a consistent and usable format. Solutions that enable more data-driven decision making will be fundamental to improving areas such as targeted customer service, business efficiency and agility, and building performance and management. Better quality data will also help AI solutions to learn more effectively and ultimately automate processes to free up human resources for more value-add activities.
EG: What should potential Academy finalists make absolutely sure they include in their entries?
AP: Finalists should have carefully considered their target market and developed solutions aimed at solving real-world problems facing the real estate industry. Entries should clearly articulate the benefits of their product and how it can be integrated into existing business models, taking into account challenges such as cost of implementation, risk aversion and cultural differences. Most importantly, finalists should ensure that they use language that the property industry can digest and apply to their everyday roles.
EG: What type of tech solutions are you most excited to see pitched?
AP: We are excited to see solutions that will help the industry to adopt a more customer-centric approach and deliver a better, more targeted service to the consumers of their buildings. For example, increasing customer insight through sensors, enabling buildings to be more flexible and adaptable to individual customer needs, or automating building management systems for a faster and more reliable service.
EG: You are going to offer up mentoring for shortlisted parties. What can finalists expect from you if they secure this invaluable opportunity?
AP: You will receive insight and guidance from senior members of KPMG’s real estate team, all of whom have an in-depth knowledge of the industry and an extensive network of contacts. You will also be able to draw on the specialist advice of our Tech Growth team, which is dedicated to helping fast-growing tech start-ups and scale-ups to grow. Finally, you will have access to KPMG’s broad industry expertise, with SMEs in sectors further along the tech and innovation journey such as financial services, healthcare and automotive.
How to enter
To enter the EG Tech Academy 2018 visit www.egi.co.uk/eg-tech-academy-2018/ or 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 that 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 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 at www.egi.co.uk/eg-tech-academy-2018/
To send feedback, e-mail Samantha.McClary@egi.co.uk or tweet @Samanthamcclary or @estatesgazette
