Union, Germantech launch hybrid solution for 5th PropTech Innovation Award

The award, which carries prize money of €40,000, will take place this year as a hybrid online event with proptech companies having until the end of March to submit their solutions. Under the slogan ‘Accelerating the Real Estate Evolution’, award founders Union Investment and Germantech will be recognising outstanding digital solutions and business models that address the most pressing issues in the real estate industry.

A total of 15 companies will compete in the final round in front of a jury and online audience for the prize money and coveted award.  

The final round will take place on 23 June 2021 as part of the PropTech Innovation Summit.

‘We are excited about developing this ever-growing ecosystem of award and live event together with many long-standing and new partners this year and about providing the real estate industry with new impetus,’ said Maria Gross, managing director at Germantech.

As a networking platform of digital innovators and the real estate industry, the PropTech Innovation Summit brought together over 600 participants online last year. Despite the disruption caused by the pandemic, 150 proptechs from 29 countries submitted their projects and business ideas. As a strong signal of support for the proptech sector, the 2020 prize money was awarded equally to all 18 finalists with no overall winner being chosen.

For the PropTech Innovation Award 2021, digital innovators – start-ups as well as established companies with innovative business solutions aimed at the real estate world – can submit their applications in five new categories: Future Proof Office Spaces, Supporting Real Estate Value Chains, Re:Create Retail, New Concepts for Urban Living, and Smart & Sustainable: Connected Cities and Buildings.

‘The award categories focus on areas in which the real estate industry in Germany, Europe and worldwide now needs to make important adjustments for the post-COVID19 era. This is where we expect to see particularly high innovation potential, which we want to promote and turn into pilot projects or marketable solutions together with the proptechs,’ said Christoph Holzmann, a member of management team at Union Investment Real Estate.