What’s taking so long?
Banking, healthcare, financial services, communications, etc.etc. They all have incubators and are investing in startups. They are doing it on a large scale, and they are making it work. Commercial real estate has not. Not one single major company that I know of has an incubator program. Why not? I have predicted that it can and will happen but why should they and how could it work?
Commercial real estate companies need to be quicker to invest in early stage startups even sooner than venture capitalists. Just the thought of the ability to scale, the development of the product and real world user cases make it undeniable. #CRE companies need to invest as a precautionary measure without seeing the immediate integration potential. They could invest to watch and learn letting the startups do the technical groundwork. #CRE companies should be willing to open their systems for partnerships and make available API’s. They should help form partnerships within and outside of #CRE that will allow the startups to sell their offerings in the mass market and create a firm path to success.
A major #CRE company startup incubator program will create some of the most successful and revolutionary companies. Not all of the startups may directly help the major companies, but they will help them explore the latest technologies and learn what works best for the market. The investment into the startups will be seen as supporting innovation and the willingness to change. The startups will exert more pressure on the major #CRE companies. This will be a positive for the industry as it responds to the increased technological advancements.
Startups will create different ways of improving customer interactivity, and with that, customer-centricity and satisfaction. Loyalty, derived through this improved focus on customer-centricity, will be very important as traditional #CRE companies are faced with increased demand for efficiency and competition from alternative business models.
Startups will also create a wider base of customer touchpoints so that customers have more opportunities for interaction within the relationship. Startups will create advisory services that will become heavily data dependent, analytics, and machine learning-dependent while also becoming simpler and more intuitive at the app and API level.
Investment innovation integration evolution and the advancement of commercial real estate as an asset class is……
How and Why Major #CRE Companies and Startups Can Work Together.
+1 Lots of big words and complete sentences. No F-bombs. Evolution?