Ten Czech and Slovak Property Technology startups and companies have founded the Czech & Slovak Association of PropTech Companies. Technological solutions in the area of real estate are experiencing a global boom, and it is common practise to set up national umbrella organizations for their activities. According to its founders, one of the association’s functions will be to allow companies to mutually share experiences and engage in joint presentations at foreign trade fairs.
The Association’s founding members are following companies: Locco, Sharry Europe, RentRocket, UlovDomov.cz, The Greenest Company, Laundrybox, Realpad, Upvest, VR Space, and Flatio. The Association is open to taking on additional members, both companies and individuals. Membership is renewed on an annual basis, with the membership fee varying based on the size and experience of new members. National associations are already present in countries such as Great Britain, Switzerland, Poland, Ireland, the Netherlands, or Russia. “The real estate market is undergoing a digital transformation, and Czech and Slovak companies are playing a key role on a global level. The group of founding members serves clients in more than 30 countries and generates revenues in the hundreds of millions of CZK. Our aim is to create a platform that through sharing and cooperation will accelerate the growth of all members,” says Marián Škvarek (Locco).
The Association’s key objectives are as follows:
to create a community of PropTech professionals;
to organize meetings and share experiences;
to facilitate joint presentation at foreign trade fairs and conferences;
to communicate with associations in other countries;
to educate the public in the area of PropTech, to communicate with the media;
to organize joint events for potential clients.
PropTech (aka Real Estate Tech or REtech) is an acronym for “Property Technology”, i.e. for technological solutions in the area of real estate. This field builds on the success of FinTech, HealthTech, and EdTech, and is continually growing. Research (Unissu 2018) shows that the Netherlands is 2nd in the ranking with the largest number of PropTech startups per inhabitant. Finland is number 1 and Sweden ranks 3rd.
“There are over 7,000 PropTech business all around the world,” said James Dearsley, Serial Entrepreneur and Co-Founder at Unissu, during Prague Property Forum 2019. In 2018 VC investors invested €335 million in European PropTech startups, according to PitchBook.
“It’s interesting to see how many companies in our region are involved in PropTech and what successes they are achieving. I’m confident that the Czecho-Slovak association will help all its members to expand to foreign markets while giving them the opportunity to learn from each other and further improve their cooperation,” adds Josef Šachta (Sharry Europe).