March 11, 2019
Today, Schindler announced the formation of BuildingMinds, a start-up created to optimize the management of real estate assets through a software-as-a-service platform.
Partnering with Microsoft, BuildingMinds is using Microsoft’s Azure and Dynamics 365 cloud platforms. Building owners will benefit from the combination of Microsoft’s intelligent cloud and business applications and Schindler’s domain knowledge in servicing real estate customers globally.
BuildingMinds will offer a one-stop service platform for real estate asset optimization, transforming the way buildings are managed in the real estate sector. The start-up will develop a fully integrated, product-agnostic, cloud solution that improves transparency and operational efficiency by allowing building owners to centrally manage all their properties and service providers.
Founded in Berlin, Europe’s prominent hub for property technology start-ups, BuildingMinds will serve customers worldwide and plans to grow its team to over 100 digital experts by year-end.
“Our partnership combines Schindler’s world-class expertise in the building management industry with the power of Microsoft technology to drive innovation across the sector. BuildingMinds will offer a range of smart building solutions, tailored to help building owners around the world facing daily operational challenges,” said Jean-Philippe Courtois, Executive Vice President and President, Microsoft Global Sales, Marketing and Operations.
“Today, properties use different supplier applications often unconnected with one another. As digitization advances, real estate owners face the challenge of managing the data locked in such an array of diverse applications within their portfolio of buildings,” said Jens Mueller, Chief Operating Officer of BuildingMinds.
“The demand for data-driven intelligence in building management and real estate asset optimization is significant and growing. Combining our industry insights with our digitization expertise will enable BuildingMinds to play a role in leading the change taking place in the sector,” said Silvio Napoli, Chairman of the Schindler Group. “This will close a long-standing gap in the advent of smart buildings, and we are pleased to be partnering with a global leader such as Microsoft on this pivotal initiative.”
Market research firm Orbis Research forecasts that the global smart-building market is expected to grow from around USD 8 billion in 2016 to around USD 58 billion by 2023. To tap into the opportunities of digitization, real estate companies are investing in new solutions that integrate their properties with their suppliers’ ecosystems and broader asset portfolio. By joining forces, BuildingMinds and Microsoft are bringing together the capabilities needed to accelerate this transformation.
BuildingMinds will operate as a stand-alone company within the Schindler Group. As its sole shareholder, Schindler has allocated funding of up to EUR 150 million to the start-up, a quarter of which it expects to expense in 2019.