Next Big Thing AG joins “International Building Performance & Data Initiative”
- IBPDI fosters effective strategies for decarbonization in the building sector
- Digital technologies play a key role in making the economy more sustainable
Berlin, September 21, 2021 – Next Big Thing AG (NBT), a venture studio for the Machine Economy based in Berlin, has joined the "International Building Performance & Data Initiative" (IBPDI). The alliance of 50 leading organizations and research institutions is committed to promoting digitization and sustainability in the real estate industry via a common, open data standard. NBT is taking yet another important step in contributing to a more sustainable world through the use of digital technologies. This initiative also aims to motivate the real estate industry to rethink current business models and use technologies that manage the transition to zero-carbon buildings.
A Standard for Industry Players to Speak the Same Data Language
IBPDI advocates for a global, industry-wide data and performance standard for real estate. The initiative provides advanced data-driven insights, enables benchmarking of portfolio performance, and integrates industry-specific KPIs to promote effective decarbonization strategies. IBPDI’s members include industry pioneers such as Microsoft, BuildingMinds, RICS and, pom+ that are continuously working to develop the Common Data Model for Real Estate.
"We are excited to be part of this important initiative as it supports our focus of using technology to achieve greater sustainability," said Harald Zapp, CEO, and founder of NBT. "Smart building systems are the future. Therefore, it’s desirable to combine expert resources in IBPDI to remove existing industry hurdles and data silos and replace them with new technologies and business models. This is the only way to make significant progress quickly and effectively."
"NBT has a deep understanding of the technology sector and will bring this perspective to enrich and advance IBPDI's work to create a unified data language for the real estate industry," said Rebekka Ruppel, president of IBPDI.
Meeting Growing Demands for Building Efficiency
The real estate and construction sector has a major role to play in achieving the United Nations’ sustainability goals. After all, the sector currently has one of the largest carbon footprints and consumes more than 40 percent of the world's energy and about 40 percent of its raw materials each year. The fight against climate change represents a major opportunity for PropTech players. The development of affordable, digital technologies is crucial to effectively lower these figures quickly — even in existing buildings.
"We have a responsibility to find effective solutions to the growing demands for building efficiency, value creation, and decarbonization strategies," explains Frank Brehm, Senior Venture Developer at NBT. "In all of our ventures in the energy, construction, and building sectors, we repeatedly encounter proprietary data formats or communication protocols. This inhibits the adoption of new solutions and creates dependencies between vendors and buildings. IBPDI's common, open data model covers the complete lifecycle of a building with all its stakeholders. This solution is both advantageous and promotes sustainability."
For a More Sustainable Society
Next Big Thing AG has always addressed the challenge of sustainability by critically selecting its investments in startups based on their future viability. By focusing on the Sustainable Development Goals (SDGs), more than 70 percent of NBT’s existing portfolio ventures leverage technological innovations to contribute to a more sustainable planet. The Machine Economy also helps in the areas of affordable and clean energy (SDG 7), sustainable cities and communities (SDG 11), and sustainable consumption and production (SDG 12). NBT ventures such as metr, Auxolar, ConcR, its close cooperation with BuildingMinds, and its own founder initiative "IoT Residency Program" all contribute to positioning Germany as an ideal business location in the sustainable building sector.
About Next Big Thing AG
Founded in 2016 in Berlin, Next Big Thing AG (NBT) is a venture studio for the Machine Economy that co-founds deep-tech ventures with aspiring founders to deliver real-world impact. With its comprehensive portfolio of startups in IoT, AI, and DLT, NBT provides long-term support for B2B companies, including the full range of development toolkits, innovation strategies, mentoring for entrepreneurs and startups, as well as technical expertise and smart financing to future-proof Germany's position as an innovation location in Europe.
The International Building Performance & Data Initiative (IBPDI) was launched in 2020 to develop the first global data standard for the real estate industry. Based on existing international standards, the initiative’s members and partners work in different working clusters to develop the open-source Common Data Model (CDM) for Real Estate. The integration of a Common Data Model provides a new level of consistency and coherence for industry-related data. This enables the integration of industry-specific KPIs into real estate management and the application of national and international benchmarks. A uniform data language is also a prerequisite for the use of advanced technologies such as machine learning and artificial intelligence in real estate management applications.