Tech start-ups targeting first-time buyers and developers receive government support

Tech start-ups targeting first-time buyers and developers receive government support

Two start-ups supporting first-time buyers and property developers in getting best value for money and improving build-out rates have been accepted onto the government’s Geovation Accelerator Programme.

 

Property-Markets and RenKap are among the seven new firms that will, over the next 12 months, receive a range of resources from the programme.

These will include access to experienced software developers, geospatial expertise from Ordnance Survey, property expertise from HM Land Registry and mentorship on business proposals and investor relationships.

Property-Markets originally pitched itself as a solution for builders and developers, to make sure their agents have been realistic with the price to sell at, rather than inflating the price to get their business

However it has since expanded to support first-time buyers as a place where they can check they are paying a reasonable price for their homes.

Its founders, who believe price per square foot is the most important metric developers can use to gauge potential, set up the site because they thought other property portals were not sufficient for sophisticated investors and developers.

RenKap’s website said it wants to “scale the delivery of high-quality affordable homes for aspiring first-time-buyers by empowering local authorities, housing associations and small and medium enterprises to build at scale again.”

It believes the housing market is broken and wants to do “to the property sector what Airbnb has done to hospitality sector and what Uber has done to the transport sector.”

As well as mentoring, both start-ups will receive up to £20,000 in funding from Geovation, which is delivered and funded jointly by Ordnance Survey and HM Land Registry, and dedicated to supporting open innovation and collaboration using location and property data.

 

Chance to ‘move faster and further’

Alex Wrottesley, head of Geovation, said: “We offer a founder-friendly environment, great mentors, high-quality workshop content and, almost uniquely, a dedicated software development team in house, who work hand in hand with our companies to build and release their first products.

“This is something very few accelerators can offer, and it means the businesses joining us can move faster and further than they otherwise would have been able to.

“We’re very much future focused and are looking forward to meeting and working with the next group of programme members and being a part of their story,” he added.

See the full list of the start-ups set to receive support from Geovation.

 

SOURCE: mortgagesolutions

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