WORLD FIRST!
International PropTech Innovation Evaluation Method (IPIEM)The International PropTech Innovation Evaluation Method is not a conventional company evaluation process. Neither is it a traditional measure of innovation. And it does not aim to solely analyze and evaluate start-ups. Instead, it has been created with the goal of evaluating any and every company in the real estate, construction or finance sectors. Crucially, it is also based on the world’s first-ever PropTech innovation evaluation process.
The “PropTech Innovation’ evaluation process forms part of the International PropTech Standards, which were developed and launched by the PropTech Academy Association in 2020.
The academy is a regulatory institution that aims to promote an international standardization and regulation for the property technology markets and companies.
PropTech Innovation Evaluation Method (IPIEM)
In connection with the International PropTech Standards, the PropTech Academy Association has developed a new methodology to evaluate companies based on their level of innovation. It encompasses 12 categories and more than 150 criteria for the real estate, construction and finance sectors.
There are three criteria that must be met for an innovation to be successful:
Innovation is work. It requires knowledge, ingenuity, creativity, etc. Besides, innovators rarely work in more than one area – be it finance, real estate, construction or another sector. Their work requires diligence, perseverance and commitment.
Innovation has an effect in economy and society. It involves a change in the behavior of clients, teachers, farmers, doctors – in other words, the community as a whole. Innovation may also involve a change in a process, in the way people work or how they manufacture products. Innovation must always be close to the market, focused on the market and market-driven.
Innovation is, by its very nature, a high-risk undertaking, as is all economic activity. Innovators define risks and seek to minimize them. Innovations are successful when they systematically identify sources of opportunity and then exploit them – whether they entail a small and quantifiable risk or a larger but still quantifiable risk. Successful innovators take a conservative view of risk while focusing on realizing opportunities.
The PropTech innovation evaluation method does not solely encompass classic definitions of innovation and general market requirements. Instead, it involves a new methodology developed using specific definitions of PropTech sectors and factoring in aspects such as uniqueness, disruption, technology and human capital in the real estate, construction and finance sectors.
The evaluation method uses subjective criteria when assigning the score. It evaluates a range of data based on official and public company information – including business plan, presentations, whitepapers, the CVs of founders and the management team balance sheet, use cases, websites and other information.
International PropTech Innovation Label (IPIL)
We launched the PROPTECH ACADEMY STRATEGY 2030 to supports the Sustainable Development Goals (SDGs) of United Nations and promotes all the goals in our activities and projects. The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries – developed and developing – in a global partnership. For more information about the goals, please visit; SDGs official page.
