CoAssets, a Singapore based start-up, successfully organized Asia’s first major crowdfunding event, Expo for Property Investing and Crowdfunding (EPIC) 2014. More than 500 delegates attended the 2-day event and the total amount of real estate crowdfunding pledged was in excess of S$20 million.
“We think that the event was very successful on several fronts. As real estate crowdfunding is still in its infancy stage, face time between the Opportunity Provider (OPs) and Funders is needed to establish some trust before any deals can be done online. Therefore, EPIC 2014 was not only intended to engage stakeholders on the potential of real estate crowdfunding, it was also an avenue for the OPs to meet up with the Funders to discuss deals. In terms of crowdfunding pledges, the event has done exceptionally well, garnering a collective figure of more than S$20 million. This amount is based on figures collected from the OPs on both days. Akin to our online process, the onus is now on the OPs to follow up with the Funders. However, even if not all of the deals materialize, this clearly demonstrates the potential of real estate crowdfunding and the outlook is definitely very exciting,” said Mr Getty Goh, Organizer of EPIC 2014 and CEO of CoAssets.
High Profile Delegates at EPIC 2014 – endorsement for real estate crowdfunding
“In terms of delegate turn out, we are also very pleased. Although 500 delegates may not seem much compared to some of the more established events, our focus was on quality and not quantity. For example, we had Mr Tim Kobe, a world-renowned architect and CEO of 8 Inc, as a delegate and conference speaker. Tim worked with the late Steve Jobs in conceptualizing the first Apple Store. He is presently exploring the possibility of using real estate crowdfunding as well as CoAssets to crowdfund a portion of his development in Boracay, Philippines. The fact that he and other high profile delegates are willing to be a part of EPIC shows that more people are becoming more aware of the potential real estate crowdfunding holds. By choosing to work with us, it is also a form of recognition that CoAssets is one of the best real estate crowdfunding sites around,” said Dr Seh Huan Kiat, CTO of CoAssets.
“I think (EPIC) is a great event. I think CoAssets, in terms of bringing the idea of crowdsourcing into real estate, is actually quite innovative. I think they are doing a really good service for the industry and I don’t think the industry fully appreciates it at that level (yet). I think (CoAssets) is at the front edge of a trend that is going to grow,” said Mr Kobe.
Apart from Mr Tim Kobe, other prominent delegates at EPIC 2014 include Dr Jeffrey Chi, Chairman of Singapore Venture Capitalist and Private Equity Association (SVCA), Mr Georg Chmiel, CEO of iProperty Group, Mr Paul Niederer, CEO of Australian Small Scale Offerings Board (ASSOB) and Dr Dolf de Roos, author of New York Times bestseller Real Estate Riches.
“I think (EPIC) is a great expo. It gives potential investors (a chance) to meet investment opportunities to expand their investment scope. It’s definitely a good event to allow investors to broaden their horizon and to understand crowdfunding a bit more,” said Mr Jeffrey Chi, Chairman of SVCA and Vice-Chairman of Vickers Venture Partners.
Key statistics of EPIC 2014
Although EPIC 2014 is the first major crowdfunding event organized by CoAssets, it achieved good traction among industry and public stakeholders. Some of the key statistics extracted from the attached event infographic are as follows:
There were 21 exhibitors at the event offering up to S$70 million worth of real estate opportunities.
More than S$20 million worth of real estate crowdfunding pledges over 2 days.
Real estate crowdfunding opportunities from 7 different countries were featured at the event. Countries that were represented included Australia, United States, Thailand, United Kingdom, Malaysia, Philippines and Indonesia.
More than 500 attendees turned up for the event.
More than 22 hours of talks from finance and real estate industry experts.