TONOMUS, a leading technology enterprise powering the world’s first ecosystem of cognitive technologies at NEOM, is partnering with PIF (Public Investment Fund) on Project PropTech.
Build the future with us
Project PropTech will influence what and how the world builds. We’re gathering bold ideas from around the globe, shaping them with our unique methodology, and pioneering them in one of the world's fastest-evolving national PropTech landscapes.
Don’t miss your opportunity. The future will build on this.
In Saudi Arabia, the real estate market is valued at over $1.25 trillion and growing, with a global value of nearly $380 trillion. But with new construction come new challenges. The Kingdom of Saudi Arabia, guided by the transformative Vision 2030, is uniquely poised to solve them.
The Kingdom is one of the world’s fastest growing PropTech markets, supported by a flourishing entrepreneurial ecosystem. Record levels of venture capital funding is flowing into the country, helping Saudi Arabia build what’s only been imagined until now.
Whether you’re an aspiring entrepreneur or an industry professional, working with greenfield or built environments, we invite you to submit your idea or startup. Up to five teams will be invited to join TONOMUS Venture Studio, where you’ll receive dedicated support and mentorship from Silicon Valley experts as you validate your venture in the Kingdom of Saudi Arabia, a testing ground for the future’s most significant ideas.
Our goals
To solidify Saudi Arabia and the Middle East’s position as a leading global hub for PropTech, we need ideas that leverage the power of artificial intelligence, machine learning, data analytics, and other cognitive technologies. The most competitive venture submissions will apply to one or more of the following impact areas:
Visibility
Compelling ideas and innovative technology solutions that stand out in the construction and real estate market with potential to transform the industry.
Scalability
Business models that show promise to grow and expand inside and beyond the borders of Saudi Arabia.
Adoptability
Solutions that break free from a one-size-fits-all approach, integrate seamlessly into the Saudi Arabian construction and real estate landscape, and can be localized to meet the needs of the industry.
Sustainability
Demonstrate a commitment to sustainable practices and offer solutions that improve the industry’s impact on the planet.
Design
How might we develop data-driven solutions for designers in the pre-build phase so that they can stay on top of changing market dynamics and more effectively predict and manage the economics and success factors of their projects?
Construction
How might we develop predictive and cognitive systems that leverage data (including supply and demand, materials, methods, etc.) to provide insights for construction companies during the build phase, so that we can more accurately predict project costs, minimize overruns, and mitigate supply chain risks?
Property Financial Transaction
How might we leverage technology and data analytics to create more efficient, transparent, and user-friendly processes for end-to-end real estate transactions such as bid management, risk assessment, financing, and debt management?
Facilities Management
How might we develop new technologies for real estate operators that improves property evaluations, contracting and procurement, and maintenance processes in a way that saves money, enhances functionality, and improves the consumer experience?
Sustainability
How might we innovate and introduce new materials and building methods for construction and real estate firms, aiming to alleviate environmental pressure and promote the use of sustainable building materials and practices?
Surprise Us (Open)
How can we use new innovations and technologies to transform and evolve the real estate and construction industry for investors, developers, planners, and other stakeholders in the ecosystem?
What makes this competition unique?
Joining our Venture Studio will provide you and your team with invaluable resources that can help bring your venture to life (and even accelerate it by several years).
We’ll help develop and sharpen venture-building skills with learning sessions that explore the latest PropTech trends and emerging opportunities in the Kingdom. As you progress through the competition, you’ll gain even more access to expert resources to strengthen your proposal and better position your venture for the final pitch event, including one-on-one mentoring and seminars that address integral entrepreneurial topics.
Select finalists will have the opportunity to participate in a final pitch to TONOMUS and PIF. Others may have the chance to connect with development companies in the region. And finalists will get to launch their ideas in the Kingdom before sharing them with the world.
TONOMUS Venture Studio
Competition winners will be invited to join TONOMUS Venture Studio for an immersive venture-building program that features Silicon Valley–influenced methodology and guidance. Benefits include:
About 
PIF is driving the growth of new sectors, companies and jobs, as a catalyst of Vision 2030. As a global impactful investor, the Fund has a world-class investment portfolio with a focus on sustainable investments, both domestically and internationally.
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| John Albright | Jane Nguyen | Diana Russo | Carl Collins |
| VP of Product | Chief Strategy Officer | VP of Technology | VP of Sales |
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