Select Startups will be provided with an opportunity to pitch their disruptive business models to Africa’s most high-profile real estate investors and developers at this year’s Africa Proptech Forum in Johannesburg, South Africa.
The Forum is a high-profile event that brings together investors and stakeholders from related industries.
Attracting significant attention from private and institutional investors, funding for Proptech has grown significantly from $20 million in 2008 to an average of $12 billion annually since 2016 with the number startups and seed funding rising each year, according to Co-Founders, Sean Godoy and noted African Real Estate Advisor, Kevin Teevoorengadum.
The opportunity to pitch to a high profile and diverse gathering of capital players is fundamental to the growth of this emerging sector, says Godoy, especially as more and more venture capital funds look to Africa’s growing markets for the next big Unicorn.
A unicorn is a privately held startup company valued at over $1 billion.
Taking place at WeWork’s first African office location, The Link, Johannesburg on the 1st of October 2019, the Africa Proptech Forum is hosted in collaboration with Proptech Africa and the continent’s leading real estate gathering, the 10th annual Africa Property Investment (API) Summit.
WeWork is an American company that provides shared workspaces for technology startup subculture communities, and services for entrepreneurs, freelancers, startups, small businesses and large enterprises. Founded in 2010, it is headquartered in New York City but also has operations in other parts of the globe.
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.
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.”
“Proptech is growing exponentially. We’ve created a unique platform where African focused startups can pitch and meet with our investors, all of whom have access to deeper pools of capital,” commented Rusin.
“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,” he concluded.