Africa Proptech Forum is set to take place at WeWork’s first African office location, The Link, Johannesburg on the 1st of October 2019 during the 10th annual Africa Property Investment (API) Summit.
The Proptech forum will provide selected startups with an opportunity to pitch their disruptive business models to Africa’s most high-profile real estate investors and developers.
Funding for Proptech has grown significantly from $20 million in 2008 to an average of $12bn annually since 2016 with the number of startups and seed funding rising each year. This has attracted significant attention from private and institutional investors.
“The opportunity to pitch to a high-profile and diverse gathering of capital players is fundamental to the growth of this emerging sector,” says Proptech Africa co-founder Sean Godoy, especially as more and more venture capital funds look to Africa’s growing markets for the next big Unicorn.
Defined as the use of information technology (IT) to help individuals and companies research, buy, sell and manage real estate, Proptech is still emerging in Africa says Godoy. But with 6,000 Proptech firms registered globally according to event partner, Unnisu, this new frontier will play a key role across every aspect of real estate on the continent.
Data and its role in attracting investment
“A number of startups especially in Nigeria, Kenya, Ghana, SA, and Botswana are pioneering the use of digital technology to leapfrog ahead and overcome traditional market challenges, such as land titles, mortgages, leasing, tenants, while also providing greater improved data and transparency for investors seeking to invest in new markets and assets,” says Godoy.
The improvement in data collection for the API Summit’s Kfir Rusin is important as “it mitigates one of the continent’s historical pain points, while also showcasing the scale of opportunity and value for investors considering investing in Proptech.”
Pitching and Networking
“Proptech in Africa represents a significant billion-dollar opportunity and to host at WeWork, one of the World’s most transformative and high-profile startups is an example of the opportunity that Proptech Startups have on the continent,” added Rusin.
The rampant proliferation of Proptech, and subsequent investment, is due to the inherent vertical integration opportunity between real estate and technology across the entire value chain says Godoy.