UK Real Estate Accelerator PI Labs Begins Round Two

by TODD STOLARSKI | Sep 17, 2015

Now that technology has crept into every facet of our lives, it should come as no surprise that the real estate industry has recently seen a significant increase in the tech tools available in its arsenal. Not long ago, CrunchBase Daily reported that investors worldwide had poured a record $1.4 billion into real estate tech startups in the 2014 fiscal year. Here at BW, in fact, we’re gearing up to hold our second Tech in Real Estate event in November.

Needless to say, the markets are still hot. So the timing seems perfect for Europe’s first accelerator focused exclusively on property innovation (PI) to open its doors. Faisal Butt, CEO of London-based private equity group, Spire Ventures, founded PI Labs to propel start-ups into the next echelon. In addition to its alliance with Spire Ventures, it also operates in strategic partnership with global real estate giant Cushman & Wakefield. Hoping to find the likes of the next Zillow or Airbnb, PI Labs searches the planet for the top-tier startups that are ready to get beyond their juvenile stage.

Faisal Butt, Founder, PI Labs with Juliette Morgan, Partner at Cushman & Wakefield

“Through Pi Labs, we can empower prop-tech startups requiring space, access to capital and support and ultimately, help spawn the next wave of tech company success stories.”

Upon a team’s selection, they will undergo three-month boot camp. PI Labs provides the selected with office space, mentors, and access to a sector focused network and investor group to help accelerate their growth. The three-month guidance period culminates with “Demo Day”, where each company has the ability to present to London’s top investors.

“Through Pi Labs, we can empower prop-tech startups requiring space, access to capital and support and ultimately, help spawn the next wave of tech company success stories,” explains Butt. “We see Pi Labs as the platform that will create the next Zoopla, the next Airbnb, and the next Nest.”

PI Labs’ second cohort just began September 7. The following applicants were accepted to the accelerator program. Before they become household names, get to know them now:

–  nanoget: 

nanoget revolutionizes the way people rent, let and manage their homes online. As the first community of its kind, nanoget provides a one-step platform for landlords and tenants to directly engage with each other without the use of an external agent. It enables users to communicate seamlessly, helping with negotiating tenancy agreements, logging issues, reporting problems and requesting home related services ranging from plumbers to private tutors. nanoget’s unique continuous feedback builds a strong ecosystem of dedicated users.

– EnergyMiser:

EnergyMiser is seeking to build an ongoing consumer engagement platform for households to help them save money on their energy bills. They intend to disrupt the space by building a digital toolset for consumers to put them in charge of their energy bills and to make it as easy as possible for people to take action saving money and energy.

– RoomFlick: 

With spiraling rental costs, more people are sharing properties than ever before. Finding the right place to live, and the right people to live with isn’t easy, using social connections and interests, RoomFlick matches people looking for spare rooms and properties, with landlords and existing tenants.

– YourWelcome:

YourWelcome offers a hotel TV-style connected portal for AirBnB properties. Their connected screens can be rented by AirBnB hosts who can tailor the device for their guests to broadcast host-generated welcome videos and home instructional guides, alongside relevant local information. YourWelcome then serves up daily local offers to the AirBnB guests direct to the device, matching a highly engaged audience with targeted money saving offers.

– Switchee:

A smart thermostat for social housing. It learns a household’s weekly routine and automatically turns heating off when no one is home. Switchee has been designed in conjunction with affordable housing providers to combat fuel poverty and reduce property management costs by collecting actionable home usage data.

As they begin their second cohort, there’s much to be excited about inside the walls of PI Labs… but even more excitement is building outside, for all that is still to come.