The first Lithuanian PropTech incubator aims to discover future real estate technology unicorns
The country’s first real estate (RE) technology incubator, the PropTech Innovation Camp, will launch in Lithuania in November. Organised by real estate investment company Eastnine and financial technology and sustainable innovation centre ROCKIT, the event will aim to discover new business ideas and provide support and funding for potential PropTech (real estate technology) businesses.
The PropTech Innovation Camp, which will take place from 14 to 18 November at the ROCKIT Centre in Vilnius, will bring together Lithuanian and regional real estate and technology business representatives, start-ups, investors and experts.
“PropTech aims to transform the real estate industry and bring progressive change to our communities, cities and help tackle challenges like climate change. With the PropTech Innovation Camp, we want to provide a significant boost to the country’s PropTech industry. We believe that in the future Lithuania can be known not only as a centre of finance, but also as a centre of real estate technology and innovation”, says Kęstutis Sasnauskas, CEO of Eastnine.
According to Lina Žemaitytė Kirkman, CEO of ROCKIT, PropTech has the potential to address Lithuania’s diverse micro and macro issues, such as rising energy prices, the environmental impact of the real estate sector, and the decline in housing affordability.
“The current challenging context only proves once again that the real estate market needs more innovative solutions. We hope that the PropTech Innovation Camp will become a platform for the exchange of ideas and change in the property market. During the programme, innovators will receive useful insights from market experts and investors, will be able to develop their idea with the guidance of Lithuanian and foreign mentors, strengthen their team and get acquainted with the wider market ecosystem,” says L. Žemaitytė Kirkman.
The PropTech Innovation Camp incubator will look for ideas along three strategic dimensions: efficient use and management of space, cost-effective and sustainable construction, and leveraging big data and application interfaces.
The programme includes panel discussions, presentations of ideas to mentors, workshops, and networking evenings. The best ideas will be eligible for special prizes.
The incubator is part of the wider Lithuanian PropTech Innovation Programme, so incubator participants will also be eligible for the next stage of the programme’s acceleration and the opportunity to develop a pilot business project together with Eastnine.
The incubator is open not only to Lithuanian entrepreneurs, but also to Baltic and Nordic entrepreneurs, start-ups and innovators. PropTech enthusiasts, academics and others who have a startup idea and want to develop it will also be welcome.
Participants can register for the PropTech Innovation Camp on the incubator’s website www.proptech.rockitvilnius.com. Registration is open until 25th October.
The PropTech Innovation Camp is organised by Eastnine and ROCKIT together with the accelerator Baltic Sandbox.