Over the last few years, crowdfunding has become a popular way for people to raise the seed money they need to get their dream off the ground. Here at Inhabitat we’ve seen hundreds of small scale projects come to fruition through the likes Kickstarter and Indiegogo. Now crowdfunding is set to revolutionize the real estate industry, and at the forefront of this movement is real-estate crowdfunding company Prodigy Network. This innovative new venture founded by Rodrigo Nino wants to democratize the way we build, and they’ve just announced plans to crowdsource both the cash and the design for their new 17 John “Cotel“, a crowdfunded business hotel located in the Financial District of NYC (collaborative + hotel = “cotel”). So, how do you successfully crowdsource a project of such a massive scale? Prodigy Network will be broadcasting a live webcast conversation during Social Media Week called Crowdsourcing and Crowdfunding: A Social Media Revolution In Real Estate. This panel discussion will feature renowned thought-leaders Karim R. Lakhani, Associate Professor at Harvard Business School; Graham Hill, founder of LifeEdited.com; Piers Fawkes, founder and Editor-in-Chief at PSFK; and Rodrigo Nino, CEO and founder of Prodigy Network, and will look at how crowdsourscing and crowdfunding will transform the built environment.
WHEN: Thursday, February 20, 2014, 12:00 p.m. – 1:15 p.m. EST
(Or if you happen to be in NYC, and want to attend the live event in person, find out how you can win a pass to Social Media Week here.)
ABOUT THE PANELISTS:
Karim R. Lakhani is the Lumry Family Associate Professor of Business Administration at the Harvard Business School and the Principal Investigator of the Harvard-NASA Tournament Lab at the Institute for Quantitative Social Science. He specializes in the management of technological innovation in firms and communities. His research is on distributed innovation systems and the movement of innovative activity to the edges of organizations and into communities. He has extensively studied the emergence of open source software communities and their unique innovation and product development strategies. He has also investigated how critical knowledge from outside of the organization can be accessed through innovation contests. Currently Professor Lakhani is investigating incentives and behavior in contests and the mechanisms behind scientific team formation through field experiments on the TopCoder platform and the Harvard Medical School.
Founder and CEO of LifeEdited.com Graham Hill brings years of visionary startup experience to every one of his projects. In 1995, he helped found the early Internet consultancy firm SiteWerks, building the company to sixty people before selling to Bowne in 1998. In 2003, he married his environmental consciousness with the burgeoning online media world to launch Treehugger.com, still one of the web’s top environmental news-sites. He sold Treehugger to Discovery Networks in 2007.
Graham began LifeEdited in 2010 with idea of translating the ideas of Treehugger into design and architecture. The company is now working with real estate developers to design and market a new breed of house that packs big function in small spaces. The company’s prototype apartment was featured in the NY Times, Dwell, Wired UK, Daily Mail UK, Gizmodo as well as a top read/emailed NY Times Op Ed called “Living with Less. A lot Less”; Graham’s TED Talk about the project has had over 2M views. And segments about the project have appeared on theToday Show, ABC World News and CNN’s Next List.
Rodrigo Nino, CEO and founder of Prodigy Network, is revolutionizing both the real estate and crowdfunding industries by being the first to meld the two worlds. Nino developed a crowdfunding model as a safe and innovative way of giving smaller investors access to large real estate assets. With this model, he set the world record in crowd funding by summoning 4,200 investors and raising more than $200 million in less than two years to fund the tallest building in Colombia, the BD Bacata.
Nino is also the creator of My Ideal City, an initiative sponsored by the project BD Bacata in Bogotá, the first skyscraper in Colombia. My Ideal City is essentially an urban planning model that allows people to engage in a conversation with world-class experts on the future of the city thanks to a technology platform and social networks. This innovative crowd creation and bottom-up approach, combined with crowdfunding, allows citizens to not only define the ideal city in which to live, but also to finance it. My Ideal City was featured in the architectural gallery AEDES in Berlin, gaining global relevance as the way to define the cities of the future.
With Nino’s direction Prodigy Network leads a range of impressive crowdfunding projects worth over 250 million dollars in Colombia including BD Bacata, Bacata Express, Aeropuerto Business Hub and Bogota Art District.
By completing AKA Wall Street, a 90 million dollar project in Manhattan under the Reg-S exemption for foreign nationals, Nino pioneered crowdfunding in the U.S. with investors from over six different nationalities. Nino’s crowdfunding model is known for encompassing a third party fiduciary company to ensure full disclosure and added transparency. His current project is 17 John, an extended stay hotel in lower Manhattan, which upon completion will stand 23 stories high, and have 191 furnished units. World-renowned architect Winka Dubbeldam is the lead architect on the project.
Piers Fawkes is the founder and editor-in-chief of the daily news and innovation site PSFK.com, and president of PSFK Labs. For almost a decade, Piers has steered the content direction of PSFK.com so that today it is read by 1.5 million creative professionals. In that time, he has driven thought leadership into health, retail, marketing and other key sectors with a series of provocative ‘Future Of’ reports and the hosting of insightful events where he brings to stage the next generation of change makers. With his team at PSFK Labs, Piers has provided product and marketing strategy advice to the world’s leading brands including Apple, BMW, Google and Target. Piers is often called to give his point of view through leading media publications such as BBC, Bloomberg, New York Times, Wall Street Journal. Previously, Piers has collaborated with Prodigy Network on My Ideal City and hosted CEO Rodrigo Nino onstage at the PSFK Conference to discuss crowdfunding in real estate.