JLL launches programme in China to drive technology innovation in real estate
Beijing – Real estate consultant JLL, in partnership with the largest and most diverse global hackathon organization AngelHack, announces a series of hackathons across major Chinese cities. The events will see programmers come together to create apps and software based around the theme of "Seamless Technology".
JLL × AngelHack partnership launches with hackathon events across major Chinese cities as part of proptech focus
Beijing, 4 June 2018 – Real estate consultant JLL, in partnership with the largest and most diverse global hackathon organization AngelHack, announces a series of hackathons across major Chinese cities. The events will see programmers come together to create apps and software based around the theme of "Seamless Technology". Open to individuals and groups of all ages and backgrounds, the hackathons take place in Beijing, Shanghai, and Shenzhen throughout June.
"This exciting new partnership is a result of JLL's increased focus on finding technology solutions to real estate problems, and clearly demonstrates our commitment to connecting with the most advanced tech partners," says KK Fung, Managing Director of JLL Greater China. "By collaborating with AngelHack to support creativity and cooperation, we aim to inspire and encourage talent among current and future generations of digital natives, collaborating with them to upgrade the role that proptech plays in our industry."
Each hackathon is held over a two-day period and hosted in popular co-working spaces in the three cities. The Beijing event took place June 2-3 at naked Hub Dongdaqiao; Shenzhen will be June 23-24; and Shanghai on June 30 to July 1. AngelHack will invite the winner of each event to participate in its HACKcelerator program, and JLL is offering a RMB10,000 prize for the best proptech idea or solution in each city.
"JLL looks forward to seeing a fresh wave of ideas and concepts that use technology and innovation to transform the real estate industry," says James Hawkey, head of retail, China at JLL and one of the judges for the hackathon series. "The specific solutions for the proptech prize should focus around one of two main areas. In real estate transactions, participants should develop intelligent solutions which improve efficiency and user experience in leasing and sales. For property management, the challenge is to develop ideas which disrupt traditional models, reducing costs and bringing with them a whole new level of service efficiency and user experience."
Individuals or groups interested in participating can still register for the hackathons in Shenzhen and Shanghai.
Established in 2011, AngelHack is a leader in innovation management and rapid research and development. Running end-to-end consulting initiatives for corporates, government entities, and nonprofit organizations, AngelHack has introduced hackathons, virtual competitions, accelerator programs, meetups, and developer marketing to over 100 cities around the globe.
"We're honoured to bring three hackathons to Mainland China with JLL's support through our annual Global Hackathon Series", says Sabeen Ali, Founder & CEO of AngelHack. "The tech talent and startup ecosystem in China is extraordinarily impressive and innovative, and we are beyond excited to work closely with the winning team over the next couple months through our HACKcelerator and turn their ideas into startup reality."
Proptech challenge was largely taken at the Beijing Hackathon
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."
Proptech growth in Asia Pacific
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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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com