For this week’s blog we caught up with Jenny Fielding, Managing Director of top start-up accelerator Techstars, long-time early stage company investor, and leader in the IoT (Internet of Things) industry. Jenny was an early backer of StackSource through Techstars, along with nearly 20 other early fintech investments. Prior to becoming an investor, Jenny was a successful founder and CEO.
We are starting to see signs of IoT’s impact on several areas of the real estate industry and we’ve only just scratched the surface. Take building maintenance, for example, an area that is currently benefiting from IoT infrastructure. Simply installing a few sensors provides the necessary data and analytics to help improve everything from elevator, HVAC, and security system reliability. This type of automation can have a huge impact on efficiency and maintenance costs.
Changing behavior is often a barrier for new technologies. There’s a misconception that the amount of time and energy needed to implement IoT solutions is always significant. However, a few sensors and a dashboard can be easy to install and transformative even in very antiquated properties.
The only way to maintain an edge in retail is to think ahead — 10 years at least! Every brand should have a skunk works team that is developing and testing new technologies and methodologies. And just about everyone across the organization should think that this innovation team is absolutely nuts. Only then will a brand have a shot at staying ahead.
IoT is big business for many of the large corporates. If you are already working with PwC, SAP, Bosch and others on other initiatives, they can plug you into their IoT teams and solutions. If not, sign up for my blog!
StackSource is a tech-enabled commercial real estate loan platform. We connect investors who are developing or acquiring commercial properties with financing options like banks, insurance companies, and debt funds through a transparent online process. We’re taking the best of commercial mortgage brokerage and updating it for the 21st century. Learn more at StackSource.com.