INTERNET OF THINGS CHALLENGE

Category Sponsor & Mentor: Connected Real Estate Magazine

Background:

Today’s digital economy is being energized by Internet of Thing (IoT) devices, which are fast becoming the foundation of Smart Buildings and Smart Cities.  To that point, Gartner forecasts that 20.4 billion connected things will be in use worldwide by 2020, and a new Business Insider Intelligence study predicts that the IoT market will grow to over $3 trillion annually by 2026.  Connected devices are transforming Real Estate on a global scale creating a new business paradigm. Firms are searching for innovative solutions capable of addressing an existing problem or pain point.  When done properly this will either enhance revenue, reduce expenses, improve operating efficiencies, or provide an add-value amenity to owners, tenants or residents.  Register for the competition at YouNoodle

IoT Challenge Cash Prizes: 1st Place: $12,500; 2nd Place $4,000; 3rd Place $1,000

Challenge Overview:

We live in a digital age consumed with instantaneous access to information, where data is the new oil powering success. With billions of Internet of Things (IoT) devices connecting our properties, and countless transactions generated from digital marketing channels, the global datasphere’s growth rate dwarfs Moore’s Law. Agile PropTech firms will unlock these bits and bytes of data leveraging Machine Learning (ML), Artificial Intelligence (AI), and Augmented Reality (AR). As a result, visibility into real-time trends will emerge, fostering an accelerated pace of change, disruption, and a true competitive advantage to adopters. 

 

The following are possible concepts or guidelines for consideration when developing a connected Internet of Things (IoT) solution:.

  • IoT solutions should leverage wireless networks

  • IoT solutions should benefit Real Estate operations, management, development, facilities, or space planning

  • IoT solutions should benefit Smart Cities, Smart Buildings, or Smart Homes

  • IoT solutions should be capable of collecting data to provide analytics and insight

  • Any IoT device ranging from sensors, smart gadgets, wearables, and voice assistance is acceptable 

  • Consideration should be given to cyber security and data privacy concerns  

  •  Operations & Maintenance IoT solutions should be submitted under that challenge category.

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