October 8, 2014
Over the next decade, London’s digital tech sector is expected to grow at a rate of 5.1 per cent per annum, creating an additional £12 billion of economic activity and 46,000 new jobs, which in turn is driving change in the commercial property market. Now the rapid rise of the UK property tech market is to get a boost with the announcement of a programme which provides tech companies with access to investment, mentoring and co-working business space. In a strategic partnership with Cushman & Wakefield and Spire Ventures; Pi Labs, Europe’s first property-focused technology accelerator company, will invite start-ups to apply to join the Pi Labs accelerator programme. This will be located within ‘Second Home’, a new iconic 20,000 sq. ft. co-working space in Shoreditch, designed to set new global standards in the provision of stimulating private and social workplace environments supporting collaboration and co-working amongst creative and technology businesses.
Pi Labs Founder and CEO Faisal Butt commented: “Pi Labs’ vision is to drive the next generation of technological innovation in the property sector. Through Pi Labs, we can empower prop-tech start-ups requiring space, access to capital and support and ultimately, help spawn the next wave of tech company success stories. We see Pi Labs as the platform that will create the next Zoopla, the next AirBnB and the next Nest.”
Digby Flower, Cushman & Wakefield UK CEO, added: “The convergence of property and technology will transform the way we and our clients operate in the future and the tech and creative industries driving this revolution can be found right on our doorstep in East London.”
Second Home was founded by Rohan Silva, a former adviser to David Cameron and chief architect of London’s Tech City initiative, who said: “We’re thrilled that Pi Labs is going to be based at Second Home, investing in start-ups that will help make the property industry more efficient and consumer friendly. Second Home is all about bringing different sectors together, and Pi Labs is a brilliant example of this type of inter-disciplinary thinking.”