Real estate technology, or PropTech, is a rapidly growing industry transforming how we buy, sell, and manage properties. Many startups have emerged in recent years, offering innovative solutions for the real estate industry, and development companies are taking notice.
According to a global study conducted by EY, 90% of real estate developers have considered or have already adopted technologies to help with data and analytics, and 60% are evaluating IoT tools. However, startups face the challenge of being noticed by developers the right developers.
To bridge this gap, Paul Frith of Paul Frith Consulting and the Toronto Business Development Centre recently organized a PropTech initiative where real estate startups pitched their technologies to three of the biggest developers in Canada – Minto, Tridel, and New Horizon. This initiative was a game-changer for many startups, allowing them to showcase their products to industry leaders and potentially secure partnerships that could help them scale their businesses.
The event was a great success, with 22 applicants and 6 finalists presenting their technologies. The range of solutions was diverse, including everything from virtual reality tours to smart building management systems. The developers were impressed with the quality of the pitches and the innovative ideas presented.
Meet the Proptech Startups
Colab tools
Colab Tools is a cloud-based platform simplifying construction project management and monitoring activities. With its intuitive and user-friendly interface, Colab Tools offers real-time data collection and analytics capabilities, making it easier for developers to manage their projects efficiently. The platform allows developers to take field notes, even without an internet connection, and perform data visualization to understand project progress better.
Additionally, Colab Tools provides more accurate job costing, enabling developers to make informed decisions on project budgets. Overall, Colab Tools is a powerful tool that streamlines construction project management, making it easier for developers to stay on top of their projects and ensure successful outcomes.
Learn more about them here.
Pinmicro India Ltd.
Pinmicro is a digital twin company that enables organizations to have a complete digital footprint of their operations and resources (workforce/inventory/assets etc.). Pinmicro helps realize significant value and savings in speed to market, improved operations, reduced defects, and new business models to drive revenue. Pinmicro detects and solves physical issues faster by detecting them sooner, predicting outcomes with a higher degree of accuracy, and designs & builds better products.
Learn more about them here.
Naked Energy
Naked Energy has developed an innovative hybrid solar technology generating combined heat and power. The versatile, modular design of Virtu® places crystalline photovoltaic cells in an evacuated solar thermal collector. Their patented heat transfer mechanism enables them to convert the sun’s energy into heat and electricity (80% of the 1000W/m2 available). Thermal and electrical outputs are optimized irrespective of geographic or climatic conditions. With the isothermally cooled PV cells protected from the environment, Virtu® is especially suited to harsh high-insolation markets.
Learn more about them here.
Cence Power, Inc.
Cence Power offers a Safe, High & Low Voltage, Plug & Play DC Distribution System. It offers a Class 4 DC power distribution system that can distribute up to 450V DC at distances over 3000m and uses low-voltage wiring practices. It can detect faults in its branch circuits and shut off power in microseconds. They’ve helped companies like EllisDon and HHAngus save up to 30% in operational costs.
Learn more about them here.
Tangible Materials
Tangible Materials is a climate technology company focused on building sustainable materials that are not harmful to the environment. Tangible is a unified software platform that catalyzes the adoption of sustainable building materials by allowing real estate developers, architects, and contractors to seamlessly identify, manage, and report on products that meet their carbon, environmental, and social goals.
Learn more about them here.
Upbrella
Upbrella Construction offers a new way to mount the structure and envelope of high buildings made of either concrete or steel. Upbrella utilizes an assembly of composite, hybrid and Mass Timber structures to eliminate risks and increase productivity by providing a shelter for construction.
Learn more about them here.
Overall, the PropTech initiative was a win-win for both startups and developers. Startups got the opportunity to showcase their technologies to industry leaders, while developers got a glimpse of the latest innovations in the real estate space. This event was a great example of how collaboration between startups and established companies can drive innovation and growth in an industry.
TBDC’s PropTech initiative significantly boosted real estate startups looking to expand into North America. Events like this give startups a chance to show off their technologies and gain exposure, which can help them make meaningful connections that will propel their businesses forward.
Thank you to Minto, Tridel, and New Horizons for supporting the industry. And a big thank you to one of our valued startup mentors, Paul Frith. With the continued growth of the PropTech industry, we can expect to see more initiatives like this in the future.
About Paul Frith
Paul Frith is an innovative, dedicated leader who advocates for low-carbon and energy-efficient technologies. In his Government Relations role for the Ontario Geothermal Association, he educated development organizations and collaborated with government officials to shape policies. With a proven track record in lobbying and fundraising, he is an excellent mentor for startups looking to break into the North American market. He is involved with organizations like CAGBC, Future Cities Initiative, and Building Energy Innovators Council and is passionate about the role of technology, innovation and improvement in business.
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