TERMS & CONDITIONS
1. Organising company and purpose of the CBRE PropTech
2. General Structure of the Platform
2.1 Call for initial contact with CBRE
2.2 Call for the PropTech Challenge
2.2.1 Start and finish dates and geographical scope
2.2.2 Details of the contest
2.2.3 Participation in the contest
2.2.4 Selection of the winners
3. Confidentiality, exclusivity and non-competition
4. Data Protection
5. Intellectual and industrial property rights. Image rights
6. Acceptance of terms and conditions. Modification or Cancellation
1. ORGANISING COMPANY AND PURPOSE OF THE CBRE PROPTECH:
CBRE Real Estate S.A. with registered office at Paseo de la Castellana, 202, planta 8ª, 28046 Madrid, with Tax ID No. A 28339471, acting also as project management office for the CBRE companies of the Partner Countries (Spain, Germany, the UK, Italy, Ireland and Portugal), hereinafter CBRE or the Company, hereby informs the Participants or Applicants of the Terms and Conditions of the CBRE PropTech.
CBRE PropTech is a CBRE initiative to drive innovation and disruption within Real Estate. Seeking for Digital Talent and expanding CBRE’s Service Offering through co-creation are the main goals to be fulfilled by the Company.
Its objective is to seek innovative ideas for new digital services and products that will provide unique added value to clients and improve their overall client experience (landlords, investors, occupiers and visitors) across the various real estate asset classes (mainly offices, shopping centres, retail units, residential developments, hotels and industrial and logistics warehouses).
To develop this activity an open innovation platform (hereinafter the Platform) where to receive the applications has been addressed as the unique point of contact between CBRE and entrepreneurs or startups.
The Platform will be continuously receiving applications (via the Microsite with URL: https://www.proptech.cbre.es) throughout the year. Applicants could apply for two different Calls: a) call for initial contact with CBRE (hereinafter, Initial Contact Application) and b) call for the PropTech Challenge (hereinafter, the Contest).
2. GENERAL STRUCTURE OF THE PLATFORM:
2.1 CALL FOR INITIAL CONTACT WITH CBRE:
The Initial Contact Application (via the Microsite with URL: https://www.proptech.cbre.es) will be open for Applicants throughout the entire year except from the period in which the Contest will be open (defined in Clause 2.2.1). In order to register, some general information should be provided by the Applicants.
A CBRE Committee will periodically evaluate all the candidacies received towards the selection of those startups to enter in collaboration with CBRE. Equally to the Contest, the evaluation criteria will be Impact, Innovation, Feasibility and Synergies with CBRE (detailed in Clause 2.2.4).
In the event of CBRE being interested in any application, the Company will move forward in the process with those startups or entrepreneurs in which CBRE finds potential. Moreover, the Company reserves the right to freely evaluate, select and contact the desired startups. Notwithstanding the foregoing, CBRE reserves the right to suspend, delay, cancel or modify this process.
2.2 CALL FOR THE PROPTECH CHALLENGE:
2.2.1 START AND FINISH DATES AND GEOGRAPHICAL SCOPE:
The Contest will commence on 02 November 2021 at 00.00 (CET) and finish on 30 November 2021 at 23.59 (CET), with no further entries being admitted beyond this point. The winners will be selected during December and notified during January 2022, pursuant to the procedures set out in these terms and conditions. The Company reserves the right to, at its discretion, suspend, delay, cancel or modify the duration of the Contest at any time on justified grounds that will be published on the Microsite.
The Contest is only open to people aged 18 or over who meet the requirements set out in Clause 3. Participants may enter individually or as a group, however, in the case of start-ups, registrations shall be limited to a maximum of 4 in each group. Participants from any country will be accepted, however projects eligible for CBRE PropTech Partnership Programs (defined in Clause 2.2.5) must be viable, at least, in the country where the CBRE program will be developed.
Each Participant shall guarantee the accuracy of the information provided for their enrolment and participation in each stage of the Contest. If the information supplied is found to be inaccurate, the right to receive the award shall be forfeited and the Participant in question shall be obliged to repay it.
2.2.2 DETAILS OF THE CONTEST:
The Contest is aimed at Participants who are entrepreneurs, researchers, designers, developers, students, and anybody who is interested in presenting digital solutions that offer value-add to real estate clients, CBRE and the society as a whole.
CBRE Employees and or agents, their direct family members, or persons professionally connected with the Contest in any capacity will be excluded from participating in the present contest, as well as those people and companies which somehow hold a personal or business relation with CBRE. Providing that, CBRE has the possibility to ask whenever is required every Participant to prove this fact, due to the possible existence of a conflict of interest. To enter the Contest, Participants must present a business project as defined and explained below (hereinafter, the “Business Project”). Anybody wishing to participate must register on the website and submit all of the following documents in English language via the Microsite:
- A PDF document, describing the Business Project and including:
- Project name.
- Project overview. This must provide a clear description of the project.
- Unique and innovative value proposal. Explaining what makes the idea unique to the market, how it solves the client’s problem or requirement and what benefits it provides to them.
- Definition of potential target audience. The idea must be clearly defined in terms of structure and estimated market size, while its target market must also be identified (such as landlords, tenants and occupiers) and have some form of relation with the various market products, such as offices, hotels, industrial warehouses, residential properties, etc.
- Key competitors, differentiation and competitive advantages. Analysis of the competition and competitive advantage over them.
- Business model.The techniques, methods and tools that will be required to develop the idea must be stated in detail. A business model canvas analysing the proposal must be submitted.
- Technology applied to overcoming the Contest.Participants must detail the technical expertise and experience they have used to design and create the services that could meet the key needs of the sector.
- Phases and resources required to develop the idea. A structure must be provided for the various stages of the project, as well as a description of all the resources required to fill the identified niche in the market and carry out the project.
- Expectations and expected results.Participants must include all the scenarios they realistically consider most probable, along with any possible consequences that might ensue.
- A technology report, where more details of their technology stack is provided.
- An optional video of between three to five minutes to present the team and/or project.
- Start-ups will also be required to provide their website.
2.2.3 PARTICIPATION IN THE CONTEST:
Anybody wishing to take part in the Contest must complete the following:
- Register online on the Microsite and accept the Terms and Conditions of the Contest.
- Provide the documentation specified in the previous section.
- At any time requested by CBRE, provide CBRE with proof that the documents provided are truthful.
- Have access to an internet connection and personal email account in order to receive notifications and any necessary documents.
We are looking for the best startups that enhance the integration between physical and digital worlds. Some use cases for Retail and Offices assets are:
- Omnichannel analytics: Online&offline engagement, customer journey, online & offline shopping analytics and behaviour
- In store analytics: in-store customer journey, in-store headmaps and customer behaviour
- Supply chain analytics: Supply chain optimization modelling, route optimization, last-mile logistics
- Location analytics: Space syntax, location analytics modelling, GIS technology
- Customer analytics: Consumer behaviour analytics, spent behaviour, brand engagement, customer experience
CBRE will only consider Participants that fully comply with all the requirements set out in the Terms and Conditions published on the Microsite. Participants must be able to clearly demonstrate that their solution satisfies some of clients’ current needs:
Flexibility and efficiency for the different client profiles (owners, investors, occupiers or visitors) in terms of: accessing information which is of interest concerning the market or individual properties; interacting with the services available for the various asset classes; researching and closing sales/letting processes etc.
Bespoke solutions for the services offered; investment or letting opportunities; property finishing’s (spaces, design, installations); retail consumer products, etc.
Experience and senses: the objective is to identify solutions that can create unique and different experiences that strengthen customer loyalty, increase revenues in sales and/or letting marketing processes, and that combines the physical and the digital (phygital) space, etc.
Accessibility: nowadays we are used to being able to access information and services wherever we are, at any time and via any device, especially mobile devices such as smartphones and tablets, or even wearables. These are exactly the type of digital solutions that CBRE provides its clients and its clients’ clients.
Sustainability: CBRE’s colour is green, it is clearly committed to achieving an increasingly sustainable world via services such as Energy and Sustainability. We are looking for innovative ideas that encourage sustainability for properties and that incentivise occupiers to be more sustainable.
2.2.4 SELECTION OF THE WINNERS:
The winners will be decided by a Panel of judges, including both CBRE employees and external experts. The Judging Panel will examine all the ideas submitted during the month of December 2021, when they will select the winners.
From all the Participants that meet the requirements expressly stated in these Terms and Conditions, the Panel of Judges will select the startups they believe are the winners of the contest. CBRE reserves the right to modify the date of the event for any reason and agrees to provide the winners and the members of the Panel with sufficient notice.
In the event that none of the Participants meet the criteria stablished in these Terms and Conditions, CBRE is entitled to cancel the Contest and declare the award null and void.
All submitted startups will follow the same evaluation scheme by scoring the following areas (the projects with the highest score will be selected):
General criteria: these criteria will be taken into consideration in order to select the winners of the Contest:
– Impact: the aim is to find projects that will have an impact on the real estate business model and that can significantly change and enhance the client experience.
– Innovation: the way in which Participants have faced the problem and developed their solution will be taken into consideration. The level of originality and innovation of the ideas in terms of the use of new technologies will also be valued.
– Feasibility: ideas that are technically and financially feasible are favoured.
– Synergy with CBRE: ideas that can be implemented in the short term in CBRE’s business will receive higher scorings.
Once the winners have been chosen, CBRE will notify them during January 2022. The winners must respond to the e-mail within three (3) working days, confirming that they wish to receive the award. In the event that CBRE does not receive a reply from the winner within the established timeframe, it will be understood that said winner expressly renounces any entitlement to the award, and the award will be presented to the runner-up. In the event that none of the winners comply with the terms and conditions set out in this paragraph, the award will be declared null and void.
Winners will appear in an expert report issued by CBRE PropTech about the best Omnichannel solutions available and published by the main specialized media across Europe. Winners will have the ability to validate with CBRE the mention of their companies/project,
Moreover, at CBRE’s sole discretion, some winners may be able to join the CBRE PropTech Partnership Program. This program will include the possibility to join an acceleration program with CBRE to develop the project, including mentoring from experts in the field of entrepreneurship and innovation and tutorials with CBRE professionals. Details will be defined in separate collaboration agreements between the Participants and CBRE.
3. CONFIDENTIALITY, EXCLUSIVITY AND NON-COMPETITION:
All the information, documentation, software, training materials and techniques submitted by Participants/Applicants in the Platform shall be treated as confidential material (“Confidential Information”). The Participants/Applicants undertake to uphold the confidentiality of the content of the Confidential Information from the submission of the participation in the Platform until the date of the awards ceremony. In any case, the Confidential Information of the winners and finalists will remain confidential after the awards ceremony.
4. DATA PROTECTION:
5. INTELLECTUAL AND INDUSTRIAL PROPERTY RIGHTS. IMAGE RIGHTS:
In accepting these terms and conditions, Participants/Applicants declare that the Business Project, ideas, and any other content of the application, including but not limited to prototypes, that they submit through the Platform are unpublished and are the sole product of their own work. They may therefore be put into practice without violating or usurping any third-party rights, and there is no dispute over the intellectual property rights (trademarks, patents, copyrights, know-how, trade secrets, etc.) relating to them totally or partially (“Project Content”).
Participants/Applicants undertake to hold the Company harmless against any potential claim made by a third party in respect of the intellectual property rights held over the application submitted, and they hereby assume liability for any cost that may arise to the benefit of such third parties, including any legal costs.
CBRE may propose collaboration agreements or joining the CBRE PropTech Partnership Program to Participants/Applicants who have submitted ideas it finds interesting.
Ownership structure and project development shall be agreed individually in each case.
Participants grant CBRE a royalty free, worldwide, non-exclusive license, with the right to sublicense to third parties, for the maximum period of time permitted by law, over their Project trademarks, commercial names, commercial trademarks, images, documents and Project Content (“License”). The License includes, but is not limited to, the right of reproduction, distribution and communication to the public, through any means, platforms and technology,
In order to apply to the Platform, each Participant/Applicant, regardless of whether they win an award, and for non-limiting information purposes, consents, non-exclusively, free of cost and worldwide, for the Competition Organiser:
- To capture, reproduce, publish and broadcast their image and/or voice in any format or medium, for informative and commercial purposes and to advertise the Platform and other promotions, on a worldwide basis, including websites and in all cases for the maximum term permitted under Spanish law.
- To interview them and collate their opinions on the Platform and, where applicable, the award won, with the Participant/Applicant undertaking to remain available for such requests for information under the responsibility of the Competition Organisers;
Additionally, any eventual Winner, upon acceptance of the award, grants their consent for their image, voice, name and surname(s) to be published and made public by the Competition Organiser using profiles on different social media networks.
Under no circumstances may the Participant/Applicant claim any financial sum derived from the use of the aforementioned images by CBRE.
The Winner of the Contest may not request any payment whatsoever. The Winner of the Contest may oppose the use and publication of his/her image at any time.
6. ACCEPTANCE OF TERMS AND CONDITIONS. MODIFICATION OR CANCELLATION:
Submission of the registration form and participation in the Platform shall necessarily imply full and unconditional acceptance of the regulatory terms and conditions set out herein and of their interpretation by the Platform Organisers.
Any breach by Participants/Applicants of the regulatory terms and conditions contained herein shall result in exclusion from the Platform.
Participants/Applicants shall furthermore accept any decision made by CBRE and the selection committee with regard to the Participants/Applicants and projects chosen to enter the Platform. CBRE reserves the right to end the Contest at any time and/or early, and this shall not give rise to any liability for CBRE.
CBRE shall not assume any liability for any potential loss, damage, theft, delay or any other circumstance of force majeure, such as strikes, or any other cause beyond the company’s control, that may affect the running of the Platform, the Initial Contact Application, any stage of the participation of Participants or the Contest, and it shall not therefore pay any compensation or indemnification as a result of these or any other causes.
CBRE shall not assume any liability for the potential consequences of events of chance or force majeure that may affect the completion of the Platform, the Initial Contact Application, any stage of the participation of Participants or the Contest. Under no circumstances shall CBRE be held liable for mistakes in the running of the Platform, the Initial Contact Application, or in any stage of the participation of Participants or the Contest by any other person or organisation whose participation is required for the proper running of them.
In the event that any kind of fraudulent participation in the Platform, the Initial Contact Application, or the Contest is detected (among other things, the falsification of data, identity theft, the infringement of any intellectual property right, etc.), this shall result in disqualification from the Platform, the Initial Contact Application, or the Contest. In this regard, CBRE reserves the right to take legal action against any Participant/Applicant who engages in any fraudulent activity in relation to the Platform, the Initial Contact Application, or the Contest.
These terms and conditions represent the only agreement between CBRE and Participant/Applicants in the Platform, and they replace any other agreement made earlier between the said parties in relation thereto.
Any legal dispute that may arise with regard to the interpretation or application of these terms and conditions shall be heard under the law of the country named among the Participant Countries, when the Participant participates as a natural person, in which the Participant/Applicant in question has proposed to carry out the project or in their country of origin, falling expressly under the jurisdiction and competence of the Courts and Tribunals of that country, expressly waiving any other jurisdictional right to which they may be entitled. When Participants participate as a start-up, any dispute shall fall under the jurisdiction and competence of the Courts of Madrid and shall be construed under the laws of Spain.
In witness whereof, the Participant/Applicant hereby accepts all the terms and conditions explained in the current document and sign this agreement to one sole effect, in the place and date registered in the platform.