Learning Expedition in New York: Exploring Proptech

What will be the future of the real estate and construction sector? What breakthrough innovations are being launched that could threaten your business? It is to answer this question that Schoolab took the VINCI Immobilier teams on board for a corporate seminar on the future of real estate in New York City! 7 days in New York on the future of PropTech for the COMEX and the high potentials of VINCI Immobilier.

The stakes: a real estate sector revolutionized by “PropTech”.

PropTech is revolutionizing the real estate industry. This term refers to all the innovations andstartups that are re-inventing the way we market and build the buildings and cities of tomorrow. Intelligent buildings, 3D construction, coworking, coliving, … the real estate industry is undergoing profound upheavals. PropTech and ConTech, designating building innovations, Smart Real Estate, Real Estate FinTech, are stimulating the birth of many high-growth startups, particularly in New York, USA.

As early as 2016, a first proptech Licorne startup reaches a valuation of more than one billion dollars. In the same year, three others followed.  Source

Far from being a niche trend, these innovations can become a threat to the most established companies if they do not follow suit and launch their own innovations.

The need of the real estate leader: Understanding PropTech’s challenges

The goal of the Learning Expedition was to understand the stakes and challenges of Proptech in order to rethink their business model. The objective was also to explore new markets (coliving, coworking, etc.) in the real estate sector, in order to understand how to integrate and cooperate with all the actors of the Smart City.

The Learning Expedition: a seminar in an innovative ecosystem

What is a Learning Expedition (LEX)? It is a company seminar for a group of employees, senior executives or the executive committee whose objective is to train and feed its reflection on the future of an industry. The first step to avoid uberization is thus to keep up to date on the latest trends and innovations in one’s sector.

“Getting inspired and taking a step back helps to give meaning to what you do and thus work in a more enlightened way. Discovering new ideas stimulates the imagination of the teams, which become forces of proposal. It’s a real tool for motivation and loyalty!”

Deborah Kreis, Head of Learning Expedition

An immersion in New York in the heart of the real estate of the future

The innovation team wanted to dedicate time to innovation for all members of the VINCI Immobilier Executive Committee. During 5 days in New York, Schoolab alternated meetings with Proptech start-ups & accelerators, American real estate developers, public players (New York City Hall), real estate investment funds and visits to innovation sites.

“The trip helped align the vision and guide the innovation strategy through concrete projects”.

Diego Harari, Director of Innovation VINCI Immobilier

Each day was dedicated to the exploration of a theme to understand and project oneself into the future of the promoter’s profession. Daily debriefings and Design Thinking workshops were organised to transpose the meetings to the context of VINCI Immobilier and measure the interest of each player.

A week that radically changed the team’s perspectives

LEX has made it possible to align the vision and guide the innovation strategy through concrete projects, in particular by initiating collaboration with a startup. The teams were able to understand how trends will impact their businesses. They were thus able to think about new positioning.

“I am convinced that breakthrough innovation can come from a large group as much as from a student entrepreneur. All that is generally missing are the methods, the culture of initiative and to launch the teams on a concrete case. It is neither age, nor technology, nor the fact of working in a large group or in a startup that determines the ability to innovate. It’s your willingness to move forward and learn.”

Julien Fayet – Founder Schoolab

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