The focus of developments in proptech is “with technology-driven innovation in the data assembly, transaction, and design of buildings and cities”, as defined by consultants Baum & Dearsley. This space is filled with startups intent on taking on the the established real estate industry, utilizing an ever-changing digital landscape and seeking to meet consumption patterns from property buying or renting consumers.
Alate Partners, formed in November 2018, is a business focused on accelerating the development and adoption of technologies that enhance or augment how real estate is designed, built, and managed. Relay Ventures is a Canadian venture capital firm focused on investing in early-stage mobile ventures throughout North America. Dream, founded in 1994, has a business portfolio that includes residential land development, housing and condominium development, asset management and management services.
Alate Partners aims to build an ecosystem that consists of proptech innovators working alongside real estate owners, operators and managers. Alate aims to work with companies of various types, from early stage startups to growth companies, that have a common aim of seeking to accelerate the development and adoption of technologies intended to augment how real estate is designed, built, and managed.
According to John Albright, co-founder and Managing Partner at Relay Ventures: “By partnering with Dream, and other real estate partners, we are bringing together our extensive knowledge and expertise in the technology sector with one of Canada’s leading real estate companies with a global scope of expertise that includes residential and commercial property development and management.”
The types of poptech innovations which may arise include property management through digital dashboards, new listing services, mobile applications, 3D-modeling for online portals, crowdfunding real estate projects, and big data analytics of property trends.