Excelrate – The Real Estate Tech Startup Weekend group photo at the end of program
Participants at Excelrate – The Real Estate Startup Weekend
YoStartups & Chula Team
Partcipants at the Excelrate – Real Estate Tech Weekend In Bangkok
Partcipants at the Excelrate – Real Estate Tech Weekend In Bangkok
Many Governments are focusing on the developing smart cities across Asia and Thai Real Estate Tech startups are gearing up for providing innovative solutions
The real estate tech startup scene in ASEAN is largely untapped and it will see real benefit from innovative Thai startups that are gearing up to capture the market with smart solutions.”
— Jappreet Sethi, Co-Founder YoStartups
BANGKOK, THAILAND, March 29, 2017 /EINPresswire.com/ — Real estate sector – which is reportedly the world’s biggest industry with a combined value of US$217 trillion, almost 2.7 times the value of the world’s GDP – needs to leverage the benefits of innovational technology. Entrepreneurs in Thailand are getting ready to exploit its potential and be ahead of its time.
Being a first mover to achieve an ideal realty-tech ecosystem among its neighbouring countries will pay Thailand its dividends in terms of economic prosperity and Thai realty-tech startups looks committed for that.
Realising it, Chulalongkorn University that has completed 100 years with exemplary academic achievements, in collaboration with YoStartups, which provides early stage support to build and scale start-ups globally, organised a unique three-day workshop to work up the entrepreneurial skills of youngsters and improve their startup acumen.
Thirteen emerging realty-tech startups, rearing to go in real estate sector, attended the awe-inspiring three-day and three-night Excelrate workshop from 17 May to 19 May 2017 in Bangkok at CU Innovation hub. All the participants went through the ten key areas of startup business beginning from an introduction to what constitutes a startup ecosystem and how it is different from other businesses.
Associate Professor Dr. Natcha Thawesaengskulthai, Assistant to the President for Strategy and Innovation at Chulalongkorn University, says, “The Excelrate program from YoStartups, divided into multiple sessions, these ten subjects are the essence of startup business activities and every entrepreneur must know them before he or she ventures out to make a difference in a particular business vertical.”
“We are all aware how to flow with the wind when the time is by your side, but the real test of entrepreneurship comes when you face difficult and contrary market conditions. The addition of modules on how to be Optimistic and managing tough situations helped the future Thai entrepreneurs to be better equipped in dealing with the challenges of entrepreneurship,” adds Sorapop Kiatpongsan, M.D., PhD and Assistant to the President for Research and Innovation at Chulalongkorn University.
The Excelrate workshop from YoStartups provided an introduction to lean canvas model with an understanding of its different attributes along with various case studies and how to present business in lean canvas model. It taught the participants how to prepare an actionable and entrepreneur-focused business model. One of its sessions was entirely devoted to educating the participants the importance and ways of refining the idea and learn-build-measure-loop, which is a core component of lean startup methodology.
During the three-day Excelrate program conducted by the YoStartups team, the entrepreneurs learned how first to figure out the problem that needs to be resolved and then developing a minimum viable product, for the purpose of quick learning. Learning different types of the business models such as B2B, B2C, B2B2C, multisided, ad-based, big data models, etc. helped startups identify their areas of focus. The selected winners from the program got nominated to the final pitching round for a six-month Real Estate Tech acceleration program run by Inhab accelerator in Hong Kong.
Thomas Cheung, Chairman, Chinagrowth Group & Promoter of Inhab Real Estate Tech Accelerator, Hong Kong is of the view that real estate sector is yet to exploit the benefit of technological innovation like finance and banking have done but “that’s going to happen now. “Once the industry will realize how technology can empower various stakeholders such as promoters, agents, investors, buyers and consultants, it will transform the sector beyond recognition,” adds Thomas.
At present, some of the technologies that have invaded the realty sector are web applications that connect property buyers to the agent and a buyer to directly another buyer removing agents as the middleman in property deals. For instance, agent-matching technology helps a buyer choose an agent who is close to his property requirement and pocket size. Other disruptive technologies emerging popular are the virtual viewing of reality projects, crowdfunding platform for investors to participate in property investment by debt or equity financing and big data and analytics to understand market trend and market behavior in real time to help promoters, agents, and investors.
Realty-tech startups in sales and marketing, property and leasing management and mortgage solution have also made their present felt to some extent in the sector.
Despite all these technological developments, many experts believe that realty-tech is at its nascent stage as compared to the FinTech or HealthTech. Reports suggest that while FinTech’s total investment in 2015 surpassed US$ 19 billion and HealthTech exceeded $5.8 billion, Real Estate Tech could raise only US$1.7 billion in 2015. However, experts sound optimistic as they rely on the rate of growth of Real Estate Tech in the past two years. Reports have it that the growth rate of Real Estate Tech year on year in the previous two years is 50% and a massive above 800% from 2011 level. So it’s picking up momentum from a steady start.
Jappreet Sethi, co-founder of YoStartups, says, “Thai entrepreneurs have a huge market among the ASEAN countries to capture. The sector, which has remained untapped till now, has shown an immense potential.”
Sethi believes that the focus of various governments on the development of smart cities call for an innovative approach and Thai Real Estate Tech startups have geared up for that. “They want to pilot their innovative projects in the country, and then we will assist them in taking it to other emerging markets In Asia, with the support of our partner, Inhab Real Estate Tech Accelerator.”
The winners from the program
The four winners from the program will get access to mentoring and support from Chulalongkorn University, YoStartups, and its partner network. The organisations that have committed to mentor startups are
1. Platformax for Sales coaching and automation,( www.platformax.com)
2. Optimism Index for entrepreneurial resilience and (http://optimism-index.com/)
3. Inhab Real Estate Tech Accelerator for fast tracking their growth (www.inhab.xyz)
The four winners of the program are
1. AIRPORTELs, are the most trusted luggage delivery service for business and individual travellers in Thailand. By using AIRPORTELs, travellers can start their trip immediately after they land in the city, while their baggage gets delivered to the hotel. On the way back, travellers could send luggage from hotel to airport instead of depositing their bag at the hotel and coming back to collect it again. AIRPORTELs team comprises of Anan Prasertrungruang and Lin Meng-Ting.
2. Homey is a Digital Service Platform that finds the right home loan to match buyer’s need. The secured platform connects homebuyers with the best lender. Founders have over 45 years of combined experiences as a Real Estate Developers, Mortgage Lenders and Real Estate investors. Homey’s team comprises of Sittirut Mekaroonkamol, Dr KIttipat Kampa, Teerus Boon-Long and Thana-On Punkasem.
3. FiRSTPrOP – Its vision is inspired by the idea that people should buy property first, not cars or luxury items. Lack of crucial property information, opaqueness in the real estate market and agent markup on prices makes the buyer’s decision-making process difficult. Seeing this a significant customer pain, FiRSTPrOP is launching a real estate marketplace that aims to eliminate the agent from real estate deal by connecting the buyers and sellers on its platform directly. FiRSTPrOP’s team comprises of Thongtus Vachirasereechai, Vorapat Polcharoensook, and Phornlerd Suthikiat.
4. Alto is a personal assistant speaker for seniors that is powered by a powerful natural language processing (NLP) algorithm, and the elderly can talk to Alto in the Thai language. In Thailand, many elders stay alone, feeling unsafe and driving anxiety in their near and dear ones. Moreover, Thailand is stepping toward an ageing society in which over 20% of total populations are senior citizens. In an emergency event, they can just say “Alto, Help!” to get help and intimate their family members about the incident without struggling to tell their home address. Alto’s team comprises of Warodom Khamphanchai, Phrut Jarukasemratana, and Thamrongphan chaiyamas.
For more information, please contact:
Co Founder & Global Head of Marketing – YoStartups Private Limited
Naphunsakorn Waiyawuththanapoom, PhD
Director of Incubator and Accelerator program – CU Innovation Hub
+353 1 531 2688
email us here
Source: EIN Presswire