The Pitch Club event at Property Portal Watch’s Lisbon Conference attracted some interesting business ideas from presenters this year and included pitches from eLocations, The Motion and Rent in Singapore.
Judges presiding over entries were Gonzalo Ortiz from Mitula, PPW founder and former REA Group CEO Simon Baker, Axel Peyriere from Wombat Capital and Michael Fiorenza from Water Green Finance Consulting.
Contestants had under 10 minutes to pitch their idea to the panel who offered realistic industry advice to help entrepreneurs analyse their chances of success in the world of property portals and marketplaces.
Steffen Schaack was the first person to pitch and outlined the business plan of his real estate marketplace company eLocations.
eLocations is a marketplace that focuses on commercial real estate and uses data to give retailers information on competing outlets so they can gain insights into the movements of similar companies. Schaack said that the current retail real estate market is fragmented, not very transparent and with no integrated database or platform. He said it wastes time, money and leads to missed opportunities for retailers.
Schaack stated that says his business fulfils a need for the retail real estate market to be fast, transparent and flexible for retailers who must make quick decisions about opening and closing store locations. The company is seeking another $500,000 to get the project off the ground.
Rent in Singapore.com.sg
Michael Nowak is the CEO of property portal Rent in Singapore.com.sg, a platform that matches tenants with a home. Currently the business operates as a freemium model and Nowak said he is looking to improve the portal locally and replicate the model to operate in different markets. He currently runs the business from Poland, although the properties for rent are based in Singapore.
Nowak took judges through the portal’s key metrics which currently include 120k registered users, 5k new users monthly and 8k current property listings.
The company is now seeking extra funding – the business is currently valued at €1.5 million – for strategic partnerships and mentoring, to continue to run the business.