PropXTech 2022

HONG KONG, 29 May 2023: PropXTech 2022/2023, organised by Hongkong Land and Sino Group, co-chairs of the Hong Kong PropTech Alliance, is a proptech acceleration programme that brings together start-ups and established companies from around the world to advance the long term and sustainable development of the real estate industry in Asia. PropXTech 2022/2023 has invited ten finalists to present their solutions and business plans to industry professionals and investors on Showcase Day.

This year’s programme attracted more than 3,000 applications from 70 countries and territories. Companies entering PropXTech 2022/2023 needed to develop solutions that prioritise sustainability and digitalisation in property development and management. With sustainability and ESG as the foundation, the entries fell into five key categories: Green Tech; Smart Building; Smart City; Smart Construction; and Customer Engagement.

From the original applications sourced and received, the field was narrowed down to 24 innovative ideas, and their originators were put through their paces over nine months of screening, workshops, mentoring and proof of concept execution. The finalists represent solutions which will contribute to a more sustainable future for tenants, employees, industry participants and the community, as well as enhancing customer experience, while aligning with the net zero agendas of governments across Asia.

On Showcase Day, the finalists presented to more than 100 industry professionals, including all 16 members of Hong Kong PropTech Alliance. The Hong Kong PropTech Alliance supports the growth of future world-class cities in the areas of innovation and technology (I&T). Representing the voices of industry leaders, it provides collective views on the impact of policy and programmes on I&T; liaises with government bodies; builds contacts with interest groups; and encourages partnership and collaboration.

Of the ten finalists, six come from Hong Kong, and one each from Germany, Israel, The Netherlands, and Singapore. The finalists are:

• Acoustic Metamaterials Group (AMG) – Hong Kong SAR
• Advanced & Sustainable Technologies (AST) – Hong Kong SAR
• Basilisk – The Netherlands
• GrinBean Smart Recycling – Hong Kong SAR
• Gush – Singapore
• hyCLEANER – Germany
• Robocore Technology – Hong Kong
• Verobotics – Israel
• Visionaries 777 – Hong Kong SAR
• XTRA Sensing – Hong Kong SAR

The innovations span a wide range of ideas, including AI-powered recycling bins to automate waste sorting; noise reduction technology; self-healing concrete; an autonomous AI-based robotics system for building exterior maintenance and performs mechanised cleaning without the need for liquids or chemicals; the replacement of concrete with little carrying effect by hollow, waste plastic balls to reduce concrete use; mobile application with AR solutions to simplify and standardise workflow in facility management; and predictive solutions to monitor, maintain and optimise the health of commercial heating, ventilation and air conditioning system and equipment.
Mr Andrew Young, Associate Director (Innovation) of Sino Group said: “Hong Kong is in a unique position with advantages that are conducive to pooling I&T talents and enterprises from around the globe. Sino Group fully supports the overall development of the I&T ecosystem in Hong Kong and is committed to nurturing innovation and technology talents, in sync with the government’s vision for Hong Kong as an international I&T centre. The Group provides a sandbox platform through Sino Inno Lab to support start-ups, while ‘PropXTech’, a corporate innovation programme, was launched in 2020 to connect start-ups, inventors, technology companies and the local real estate industry.”
“Combining the knowhow and resources of Hongkong Land and our established platforms, we’re delighted that we can identify and nurture promising proptech innovators from around the globe to encourage sustainability and digitalisation. We look forward to creating positive impact together on Hong Kong’s proptech landscape through continued engagement with industry peers and start-ups.”

Mr Kent Jan, Director and Head of Digital Transformation & Innovation of Hongkong Land, said: “The impact of proptech on the property industry has been substantial in recent years with Asia-Pacific the fastest-growing proptech market globally. For example, through the uptake of these innovative solutions, we were able to adopt a first-of-its-kind in Hong Kong ‘Control Tower Concept’ into our Central Monitoring Centre; effectively harnessing machine learning to optimise the monitoring and interpretation of data in our Central Portfolio. This enables us to drive efficiencies and reduce our operational carbon footprint.”

“We are proud to have partnered with Sino Group and combined our resources to fuel the growth of passionate innovators as we strive to push proptech development to the next level in Hong Kong and Asia.”