Property association, Real Estate Board of New York has announced the launch of its virtual real estate hackathon, to encourage the development of cutting-edge solutions to solve challenges faced by the industry.
The PropTech Challenge builds on the inaugural #REBNYTech Hackathon, which took place over a 3-day period during New York Real Estate Tech Week 2017 and brought together 200 minds in property and technology.
This virtual event will be hosted by software engineering platform Devpost, meaning developers from around the world can participate, in an effort to win $50,000. Applicants can participate as part of a team of up to 5 people, or as an individual.
Teams will work across 4 challenge categories:
- Operations and maintenance
- Commercial brokerage
- Architecture Engineering Construction (AEC) and development
Entrants have an 8-week window to submit a video presentation and written presentation demonstrating their solution, concepts, and business plan by Tuesday 16 October.
The judging panel, comprising of REBNY members, industry experts, and sponsors, will review all submissions to determine the finalists. Entries will be judged on their originality and creativity, strategic thinking, practical implementation, quality of submission materials, and potential value to industry professionals.
The top 3 finalists in each challenge category will be invited to New York Real Estate Tech Week 2018, to present a 5-minute live demonstration of their solution, followed by a Q&A session.
REBNY chairman, Bill Rudin, said: “The PropTech Challenge leverages the wealth of worldwide technology talent. The series aims to drive innovation and collaboration to address the diverse needs of New York City’s real estate market. New York City has always been the place where innovators want to make their mark.”
John Banks, REBNY president, said: “The PropTech Challenge will advance New York City’s position as a destination for real estate tech. There is a great appetite for innovation that supports our industry’s goals for producing more housing, ensuring the quality and resiliency of our building stock, and upholding the highest ethical standards for brokering real estate transactions.”
Those interested in the #PropTechChallenge should visit proptechchallenge.com to learn more and register.
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