08. January 2019
Spaceflow in New York: New Deals Already in 2019
While the Czech real estate market only slowly accepts new trends, the United States is a seedbed of new ideas in the real estate field. When proptech startup Spaceflow found out about the possibility to take part in a three-month acceleration program in New York funded by CzechInvest, they immediately signed up for it. Co-founder and Business Director Jan Jílek thus got the chance to gain priceless experience in a city with one of the world’s biggest real estate markets.
When Jan arrived to New York City in September 2018, he was clear about one thing. He wanted to get as much as possible from the VentureOut incubator program. That’s why he set key priorities – in sales, business development and marketing – which he paid attention to throughout his three-month stay.
Every week he met incubator CEO Brian Frumberg and other mentors who helped Spaceflow significantly improve sales efficiency thanks to setting new internal processes and implementing new tools.
Not wanting to spend day and night in conference rooms, Jan decided to take only the recommended number of mentoring hours and spend the rest of his time networking on his own. Almost every day he had meetings with clients and partners or attended various networking events, specialized in the real estate and in startups, where he gradually collected important contacts.
In just three months, Jan managed to hold talks, some of which look very promising, with several clients about implementing the Spaceflow application. Spaceflow would like to start its first project in New York in the first half of 2019. When asked what he considers his biggest success, he says it’s creating a network of important contacts. Not only was he able to find a local sales partner but he also met people who now promote and recommend Spaceflow to other people.
“What I really liked about New York was its entrepreneurial atmosphere. Every night you can go to a networking event where you meet founders of big companies and even though they are not your direct partners, you get valuable feedback from them when you speak to them.”
For Spaceflow employees, getting positive feedback on their work and a sign that they are on the right track was also very important. In Jan’s view, the good news is the real estate market is so big that in the initial phase, the startup - as well as all its competitors, who operate in New York - can be successful.
From January on, Spaceflow wants to find a new investor. Until the investor is found, the startup plans to focus mainly on expansion in Europe. The stay in the US, however, changed plans a bit. In the first half of 2019, there will be quite a lot of traveling between the US and Europe, as Jan plans to conduct some activities out of Prague and some out of New York. Negotiations of new deals are upcoming and so, Spaceflow plans new travel to the US in January of this year.