From june 9, 2017 to june 11, 2017
International Hackathon 2017
Discover this event
02.06.2017 | Innovation
The BNP Paribas International Hackathon was one of the highlights of the year 2016. In the span of a weekend, 96 start-up from eight countries shared their outlook on the customer experience of tomorrow, with the backing of 350 experts from BNP Paribas. At the end of the event, nine of these start-up received awards based on the creativity, feasibility and relevance of their solution. Among them was Realtypies.com, a crowdfunding platform dedicated to real estate. We met with its co-founder, Erkan Karakus.
So we were inspired by similar web platforms in the US, a country where real estate crowdfunding began about two years ago.
It’s a system based on buying shares in current real estate developments. Investors select one or more properties on the platform, and then choose how much they want to invest for a fixed duration of three to five years. Their funds are transferred to a pooled reserve account until the platform raises enough funds to finance the development. Once the campaign reaches its target, the platform purchases the property, and each investor becomes a shareholder. Investors benefit from a substantial return on investment, combining both the rent collected during the investment and the capital gains earned when selling shares at the end of the investment period.
To start, our portfolio will comprise luxury properties in the United States, such as hotels and office buildings currently being converted into private residences. Eventually, we hope to offer properties in Turkey and then in Europe. Our goal is to empower investors to diversify their portfolios.
Of course! Our platform lets users monitor their investments in real time 24 hours a day, seven days a week. Users can securely access their personal dashboard, which contains investment balances and status, number of transactions, revenue earned, and more. The process is entirely transparent.
The benefits are two-fold. First, the platform is oriented toward mortgages for property acquisition. Sixty percent of investments will come from loans, while investor capital accounts for the rest. Second, the bank in charge of the platform’s account can serve as an intermediary for completing transactions.
It all started during a Hackathon organized by TEB and BNP Paribas in Turkey in 2016, where we coded the first version of the platform. This is where we won first place among 10 other Turkish start-up. Our second win at the BNP Paribas International Hackathon gave us the opportunity to develop our offer with the support of TEB and BNP Paribas experts. It was a wonderful experience full of adrenaline and unforgettable encounters with some extremely qualified individuals.
Ninety-six start-up from eight countries took part in the BNP Paribas International Hackathon June 17-19, 2016. Aided by 350 specialists from BNP Paribas, the start-up hammered out their vision for the future of the customer experience. 10-week Digital Bootcamp followed the hackathon weekend and gave the opportunity to develop and finalize Finalists’ solutions. On Demo Day in Paris, 18 finalist start-up presented their solutions in front of the jury which consisted of 18 exco members and 2 external well-recognized experts. At the end of the event, nine of these start-up received awards based on their solutions’ creativity, feasibility and relevance.