13 Apr Nordic proptech associations launch joint proptech prize

The inaugural Nordic PropTech Awards will be presented in Copenhagen in 2022, on the back of strong Nordic collaboration and a burgeoning proptech ecosystem. 

The adoption of new technology in real estate has rocketed during the pandemic. Whether it’s virtual tours, data-driven real estate decisions, or remote property management, Nordic companies are at the forefront of this innovation wave.

Against this backdrop, the first annual Nordic Proptech Awards (NPA) will be awarded to Nordic-based startups with solutions that help the real estate industry create new efficiencies. The award ceremony will take place in Copenhagen in the Spring of 2022.

«Nordic PropTech Awards will showcase the Nordics as a leading hotspot for digital innovation in real estate, and communicate the ecosystem’s strong solutions to industry stakeholders, clients and investors», says Nadim Stub, CEO of Proptech Denmark and this year’s head of the award’s Steering Committee.

Nordic PropTech Awards is jointly owned and operated by the Nordic proptech associations – Proptech Denmark, Proptech Sweden, Proptech Finland, and Proptech Norway – and is a mark of the increasing Nordic collaboration in the field.

The prize categories are:: 1.  ConTech 2. Real Estate Fintech 3. Sustainable Business Operations 4. Real Estate Innovator 5. Future Office  6. Energy Management

Additional tracks are under consideration.

«By shining a bright light on the region’s smart solutions, we hope to nurture innovation and increase adoption of Nordic proptech solutions by the industry. The Nordics have a quickly maturing proptech ecosystem with a unique pay-it-forward culture and strong cross-fertilization between countries, industries, and companies. It’s a strong foundation that we wish to reinforce with Nordic PropTech Awards», Stub says. 

Practical information about Nordic Proptech Awards

Applicant companies are no older than 7 years, have a maximum of 75 employees, and must have an established presence in the Nordics. There will be an open call for applications in May, with touchpoints in each country. The application deadline is in Q3, with shortlist announcements in Q4. Finalist announcements and the award ceremony will take place in Q1 of 2022.

Signup and additional information can be found on the award’s home page: www.nordicproptechawards.com.

Award winners gain recognition and visibility as a preeminent company to watch in the Nordic industry and can use the prize in marketing. They will have prominence and attention in the Nordic ecosystem through editorial coverage, and invitations to present at Nordic network events. Winners also get one-on-one meetings with track jury members – spanning from mentoring to pitching. They are also granted free memberships and sparring sessions with each national proptech association. 

Jurors are selected jointly by the national associations, and are inestors with proven track records in real estate, finance, and tech – and the experience to recognize the practical, theoretical and financial aspects of proptech and entrepreneurial endeavours.

Coor Service Management has a footprint in all the Nordic countries and is an attributed program partner. Totalkredit is on board as a track sponsor. Advanced negotiations are currently ongoing with select parties, and additional partners will be unveiled going forward.

Background: A burgeoning Nordic proptech ecosystem

New companies are growing out of the digitalization of real estate. Today, there are 500+ Nordic proptech companies, half of which are members of one of the Nordic proptech associations. The ecosystem has taken a front seat as Covid-19 has accelerated the adoption of proptech.

«Success stories like Norway’s Spacemaker, GoodMonday from Denmark, Parakey from Sweden, and Kodit.io of Finland demonstrate the technical expertise, innovative prowess, and entrepreneurial acumen that characterizes the Nordic proptech ecosystem. A perfect Nordic storm has created an especially fertile ground for real estate innovation here», says Henrik Taubøll, a Proptech Norway co-founder.

Real estate companies are innovating to create new efficiencies, building internal innovation teams, expanding strategic partnerships, and investing in proptech. Startups have access to a large and relatively cheap talent pool. Strong public-private funding opportunities have grown more generous during the pandemic. Nordic cities rank high on global SDG indexes.

«The global investment community now equals climate risk with financial risk, adding relevance to Nordic startups with a strong track record on tech with a purpose. Showcasing this can propel Nordic proptech companies to stronger global positions», says Mikael Långström, Chairman of Proptech Finland.

The global industry looks to the Nordics for novel value propositions, fueled by the region’s uniquely digital populace and access to richly structured data. 100+ million Euros poured into the field last year.

“The Nordic advantage is underpinned by a VC community that increasingly combines tech know-how with deep industry insights», Roger Tofft, Founder, Proptech Sweden, says. «The industry knows what it’s looking for. They just need help pointing the spotlight.»