The ULI PropTech Innovation Challenge 2024 brought together cutting-edge ideas from the real estate, construction, energy, and technology sectors, showcasing transformative solutions to today’s most pressing challenges in the built environment. Spearheaded by ULI’s Young Leaders, set out to uncover solutions with the potential to transform how we live, work, and interact with our built environment. With a strong focus on reducing carbon emissions, the challenge addressed one of the most critical issues in the real estate sector today: Scope 3 emissions.

With Scope 3 emissions, often the largest contributor to a company’s carbon footprint, remain one of the hardest to measure and manage. For the real estate industry – characterised by intricate supply chains, contractors, and energy demands that address Scope 3 emissions is essential to achieving meaningful sustainability goals. This year’s challenge called for solutions that span the entire building lifecycle, from design and construction to operation and renovation, emphasising practical tools for decarbonisation.

Simon Abboud, Director at Hines Europe and PIC Co-Founder and European Lead, shared the incredible reach and impact of the initiative:

“The response to PIC has been really inspiring. We’ve received more than 70 applications, and the process has involved over 70 subject matter experts engaging local juries across seven ULI National Councils. This year’s entries showcased a wide variety of transformative solutions positively impacting Scope 3 emissions reduction—from hardware to software and high- to low-tech.”

2024’s Switzerland-based winner, Optiml, captivated the jury with its AI-powered platform for real estate investment and renovation planning. This scalable solution offers a forward-thinking alternative to traditional methods, enabling the industry to achieve carbon reduction targets more efficiently. Optiml’s vision is to lead the shift with Real Estate Decision Intelligence, empowering data-driven strategies for sustainable buildings.

Dr. Evan Petkov, co-founder & CEO of Optiml:

“Over the coming decades, the existing built environment will undergo a large transformation towards sustainability. As the industry transitions from ESG reporting to decarbonisation action, new approaches to real estate investment and renovation planning will unlock better business models.”

Beyond Optiml, the challenge featured several inspiring country winners and European finalists, each contributing unique solutions to reduce emissions and foster sustainability:

Voltfang: Experts in second-life battery storage systems, Voltfang helps businesses optimize renewable energy usage, reduce peak demand, and cut emissions.

“This success enables us to present our mission to reduce CO2 emissions at the European level,” shared CEO David Oudsandji.

CoCircular: With its SaaS platform for circular waste management, CoCircular helps clients achieve sustainability goals and meet new regulations efficiently.

“We felt very honoured to win the ULI [Spain & Portugal] PropTech Innovation Challenge 2024. This recognition helps us elevate the discussion on the urgent need to accelerate circular waste management across Europe… We are thrilled to share with the whole industry our learnings and the significant progress our technology has made in driving this essential transition,” noted CEO and Co-Founder Paula Sánchez Collado.

Isol’en Paille: Local bio-based insulation blocks made from straw provide a low-tech, ecological solution for decarbonisation.

“Straw bale is the most advanced low-tech insulation material for decarbonization challenges,” said founder Nicolaas Oudhof.

Net Zero Build: AI-driven tools streamline sustainable building certifications, enabling real estate companies to meet emissions and sustainability targets.

“This recognition fuels our mission to drive impactful change in the real estate industry,” said founder Kristijan Jordanov.

Rebench: A circular platform for managing and reusing office furniture, Rebench addresses the 11 million tons of annual furniture waste in Europe.

“We aim to unite real estate and furniture partners to spread the word about reuse,” explained co-founder Mateusz Sikora.

Symphony Energy: Optimising HVAC systems, Symphony Energy supports both new and existing buildings in achieving significant energy efficiency gains.

“Our solutions play a crucial role in meeting Paris Proof 2050 energy targets. The ULI UK & Ireland PIC has helped share awareness of this,” said Managing Director Tom Ascough.

By bringing a spotlight to these innovative players, it highlights a larger need to connect the industry with advanced high- and low-tech solutions, advancing sustainable practices and improving how we live, work, and play.

As the winner and finalists continue to push the boundaries of sustainable innovation, their work forms an integral part of the ULI Mission Priorities to reshape the future of real estate. Together, they represent the transformative potential of collaboration between traditional real estate players and cutting-edge PropTech innovators.

Stay tuned for updates on these pioneering companies and their impact on creating a more sustainable future.

Discover more about the winners and their solutions here.