Happy to be able to contribute to MetaProp's Global Proptech Confidence Index. Very insightful information for anyone in the space!! "The challenge ahead for founders comes back to all the basics: crystal clear vision for a high-value and impactful business, product-market fit, opportunity for scalable growth, and a pathway to profitability. With that, founders will be required to be grittier than ever to find real traction, know their metrics, and paint a clear picture of the path they are on. The next 12 months will continue to separate the 'wheat from the tares.'" Pest Share
In the recently released Year-End 2023 Global PropTech Confidence Index, we asked leading PropTech founders and investors to share the most significant changes, key challenges, and promising opportunities they foresee in the coming year. Here is what they had to say: Landon Cooley, Co-Founder and CEO, Pest Share: "The challenge ahead for founders comes back to all the basics: crystal clear vision for a high-value and impactful business, product-market fit, opportunity for scalable growth, and a pathway to profitability. With that, founders will be required to be grittier than ever to find real traction, know their metrics, and paint a clear picture of the path they are on. The next 12 months will continue to separate the 'wheat from the tares.'" Minna Song, Co-Founder and CEO, EliseAI: "The real estate sector is notably cautious when it comes to adopting new technologies, with a strong preference for established, tried-and-tested solutions... This cautious approach is part of a larger cyclical trend within the industry, where periods of excessive cost-cutting can lead to compromised property performance, followed by phases of overspending in an attempt to rectify previous cutbacks, more cost-cutting, and so on." Taehong Huh and Aaron Toppston, Managing Partners, GS Futures: "We believe 2024 will see a significant increase in the number of new investor-led Series A and B rounds for the best-performing companies. We are excited to welcome a wide range of potential leads on these rounds — particularly from the well-established generalist VC space. We believe inter-disciplinary partnerships can create strong support for founders, particularly as a company matures beyond initial product-market fit." Elizabeth Pipes, Investor, Intact Ventures "Despite having a high-quality product, I believe a lot of PropTech companies struggle to find a champion in an organization to buy, implement, and then use technology in their real estate assets. For this reason, I predict to see more PropTech companies shift towards a tech-enabled services model. For example, a construction robotics company that may face difficulties in selling their hardware product to a general contractor may shift to behave as a GC themselves." Read more in the Year-End 2023 Global PropTech Confidence Index, sponsored by PwC: https://lnkd.in/e2kiVGit #PropTech #vc #venturecapital #realestate #vcinsights #innovation
