10 out of 25 ideas/solutions developed at the Beijing hackathon were on proptech. The winning team of proptech challenge came up with a solution for smart property management, aiming to reduce operational cost and save energy by installing sensors and monitoring real-time utilities consumption. Big data on energy will provide with the industry benchmark and best practice to guide property managers for higher building efficiency. "Thanks to AngelHack and JLL to provide this opportunity", says the winning team, "we look forward to completing this idea and having a deep discussion with building owners and service providers." 

Other proptech ideas were covering a wide spectrum of property industry, i.e. shared working space, smart parking, transaction on blockchain and AI onsite properties. "It's very interesting to see how proptech challenge is widely taken", says James, "We are confident that proptech will move forward rapidly with more hackers dedicated to this area."

The term proptech describes the use of technology to create or renovate services offered in real estate to buy, sell, rent, develop, market and manage property in a more efficient and effective way. According to a recent report by JLL, funding for proptech start-ups will reach US$4.5 billion a year by 2020 with Greater China and India currently the top two markets based on funding value and total number of deals.

JLL has invested in a number of proptech start-ups in the region including Foyr, a technology platform for visualisation and customisation of interior space; and Ecolibrium Energy, an energy management solutions provider. It has also launched home-grown products including VR360, a virtual reality tool for construction projects; and Command Centre, a platform that provides analytics for real-time, remote monitoring of buildings and facilities.

Read the report Clicks and Mortar: The Growing Influence of Proptech.

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