Stockholm at the forefront of PropTech development
A new industry report calls attention to the pivotal role of property technology, PropTech, in achieving sustainability worldwide.
The report presents the history and future outlooks of the fast-developing industry, as well as the requisites for PropTech success. Analysis of Sweden’s own innovation-supporting ecosystem and interviews with its central players presents a blueprint for creating global impact.
- We have seen tremendous growth in the number of PropTech startup companies, in Sweden and internationally. The trends indicate that the demand for technologies is increasing and that PropTech companies are ready to meet this demand. Therefore, we see many opportunities for entrepreneurs and investors and the growth of the PropTech ecosystem more broadly, says Roger Tofft, Founder and CEO of PropTech Sweden.
The report proposes that PropTech is fueled by the urgent need to meet the United Nations’ Sustainable Development Goals. Furthermore, it illustrates PropTech’s potential for helping to solve these complex environmental, social and technical challenges. For example, how PropTech-engineering can be used to address Climate Action, Good Health and Well-being, Clean Water and Sanitation, Affordable and Clean Energy, and Sustainable Cities.
Sweden is at the forefront of PropTech development, and the Stockholm region is a central hub in the ecosystem. The report identities approximately 230 startups, grouped into categories by the type of offering or problem that they solve. Many Swedish companies offer impactful solutions, but the global scaling of these innovations remains a challenge requiring further funding and international networks.
With its vibrant startup ecosystem, Stockholm is a global leader in entrepreneurship, impact investment and sustainability, and is among the top cities for attracting PropTech startups and investors. The city has developed a unique brand of success based on a tradition of cooperation and a common agenda that is today aligned with the Sustainable Development Goals.
We commissioned the report to better understand the lively PropTech ecosystem in Stockholm and Sweden. We were positively surprised by how much PropTech can contribute to sustainable development, which is one of the most important goals of the City of Stockholm, comments Jenny Berthling from Invest Stockholm.