The Edge - Volume One

PROPTECH AND THE UNIVERSITY So much of the present and future world of work is driven by the technology sector and startups that are additive and disruptive. Accordingly, university-affiliated incubators have been developed over the past decade to create ecosystems that link scholarship, business and innovation. Examples of technology incubators include DMZ at Ryerson University (Toronto, Canada); New Venture Institute at Flinders University (Adelaide, Australia); Tsinghua x-lab at Tsinghua University (Beijing, China); PoliHub at Polytechnic University of Milan (Milan, Italy); and StartX at Stanford University (Stanford, CA.), to name a few. Similar-styled incubators with a specific focus on CRE technology are starting to pop up around the world as well. For example, a CRE innovation program has begun at Columbia University (New York City) involving researchers and students at Columbia partnering with companies with a stake in CRE developments from the wider PropTech ecosystem. Stanford University (Stanford, CA) also has a research consortium exploring CRE technology needs. 1871 is an example of another model that connects the university, early-stage startups and industry-specific incubators. 1871 brings together Chicago entrepreneurs from 400 high-growth digital startups with more than 100 education, community and corporate partners – including Cushman & Wakefield – to create a community that includes programming, events, inclusion efforts and other activities and initiatives that enrich the member experience and establish roots throughout the Chicago business and technology community.

Supply of funding and PropTech ideas are being driven by demand from all sides of the real estate industry searching for technology that increases investor returns, improves operational efficiencies and creates better spaces for people to work, shop and live. Interested commercial real estate (CRE) stakeholders include:

J J Developers looking to crowdfund new projects

J J Investors seeking efficiencies in management, maintenance and staffing

J J Occupiers driving space utilization that is more efficient and makes work more effective

J J Employees demanding a modern workplace experience that optimizes comfort and ease

J J Retailers attracting customers into a physical store in a world increasingly propelled by eCommerce

So much of the present and future world of work is driven by technology.

60 THE EDGE