WHAT'S THE BIG IDEA?
The PropTech Challenge was born out of the inaugural REBNY Tech Hackathon, part of New York Real Estate Tech Week 2017. The REBNY Tech Hackathon was launched over a 3-day period, bringing together some of the brightest minds in real estate and technology. The objective of the hackathon was to inspire cutting edge solutions solving real world challenges faced by today’s leading real estate companies. Building upon the hackathon’s success, PropTech Challenge aims to remove the geographical boundaries and time constraints commonly imposed through on-site hackathons. The Challenge leverages the wealth of technology talent in New York City and beyond, aiming to be the world’s leading virtual real estate hackathon series. As we cultivate partnerships around the world, the series aims to drive innovation focusing on the needs of New York City’s real estate market.
In 2018, REBNY's PropTech Challenge was a global success where participants from over 12 countries were awarded a grand total of $50,000 in cash and prizes across four challenge categories. Winners had the will be our unique ability to connect developers with venture capital firms and key real estate decision makers, including C-Level executives, from REBNY’s Technology Committee.
In 2019, we are joining forces with the MIPIM Startup Competition to expand our global reach. Demo Day will be held at MIPIM PropTech, the premier Real Estate and Tech event. MIPIM PropTech. which is a collaboration between MIPIM and MetaProp NYC, unites key real estate decision makers from all sectors and technology companies to take their business to the next level and build the future of real estate.
Leading up to the Demo Day event, each team will receive an 8-week window to submit a video and written presentation demonstrating their solution, concepts, and business plan. The top three finalists from each challenge category will be selected by a panel of industry experts, ultimately presenting a five-minute live demonstration of their solution on Demo Day, followed by a Q&A session. The winners of each category will be invited to participate in the MIPIM Startup Competition finals held in Cannes, France on March 10 - 13, 2020.
PropTech Challenge was conceptualized by Sandy Jacolow, Duke Long, and Ryan J. S. Baxter. Digital Marketing assistance provided by Alicia Jacolow. The Real Estate Board of New York (REBNY) is the PropTech Challenge Founding Partner.
A seven-member judging panel comprised of REBNY members, industry experts, and sponsors will review all submissions to determine the finalists in each challenge category. This seven-member panel of industry leaders with relevant expertise will be responsible for judging all submissions. Each entry will be judged according to the following criteria:
Practical Implementation 40%
Originality / Creativity 10%
Strategic Thinking 10%