EXECUTIVE SUMMARY

PropTech is a SaaS solution and works through a custom-built app. With its technology, the app revolutionizes the damage reporting process and thus the exchange between property management firms and tenants. Analog processes, which are still standard in the industry today, are replaced by a standardized and digital process. This solves numerous problems and saves time and money for both, property owners and residents.

Goal

The goal of PropTech is to solve the three main problems of property managers today. First, complicated and non-standardized processes will be digitalized and streamlined. Secondly, misunderstandings in communication will be minimized by a standardized and simple process. Finally, this saves an enormous amount of time and money. PropTech will start in the Austrian market and will expand internationally after one to two years, first to Germany.

Methodology

Methodologically, the project can be divided into eight steps. At the beginning we dealt with the idea generation. Then we identified and validated potential customers through interviews. We then analyzed the market and the competition in order to create a valid business model using the business model canvas. In the further course we worked on a concrete go2market strategy and set up financial analyses to see what investment is necessary to enter the market with PropTech.

Results

The final outcome of the project builds upon several steps the team went through in developing the business concept and is presented in the form of a pitch deck. Within 14 slides, PropTech delivers its core ideas to potential investors and a plan, how these are put into action. With its revolution of damage reporting, PropTech targets the over 35 thousand property management firms in the DACH region which will pay subscription fees for letting the digital platform facilitate their communication with residents in case of damages. PropTech’s marketing efforts focus on B2B marketing in order to pursue property managers to make use of the fully-digitalized damage reporting solution. By providing a market ready solution by mid of 2024, the start-up aims to break-even at the end of 2025. With the elaborated pitch deck the founders now have a solid basis to look for potential investors into their business idea, since 1 Mio. € is required to let the team develop the market-ready solution until mid of 2024.

Cooperation Partner

• Team PropTech
  Bernhard Smidt
  Chin Wei-Chen
  Christoph Pachner

Contact Person

• Christoph Pachner - christoph.pachner@simc.at

Student Team

• Chin Wei-Chen

• Bernhard Smidt

• Christoph Pachner

Project Manager

• Peter Keinz

• Tina Marie Monelyon

• Shtefi Mladenovska