Placemake: applied genius

5 November 2016 – by Emily Wright

When a mathematical genius and a hedge fund analyst join forces to create a piece of technology, chances are they might be onto something. And when the primary function of that piece of technology is to help the property sector, so much the better.

Portrait by Louise Haywood-Schiefer

Portrait by Louise Haywood-Schiefer

Introducing Placemake, a revolutionary mapping system that entrepreneurs Chlump Chatkupt and Nikhil Vadgama have been developing since January. A simple idea based on mind-bogglingly complicated software, it is in essence a location analysis tool that will help the real estate sector pick the optimum areas in cities around the world in which to develop, invest and ultimately make the best returns.

This is a system that could not only tell the industry exactly which areas in a city are going to deliver the highest returns, but how much those returns are likely to be and when (and why) they are likely to mature. It can scientifically predict urban and demographic trends. It can automatically identify comparable areas based on stacks of data so comprehensive that it takes the concept of location analysis from instinctive guesswork to mathematical certainty.

The pair are already talking to the biggest players in property, from Lendlease to Land Securities and KMPG to Kajima about the tool. And they are nearly two times oversubscribed for their £750,000 funding round, which is due to close next month, as investors from across the globe scramble to get in on the action.

But there is still one big hurdle to overcome. How do you introduce, implement and market a new system which has been thought up by a pair of minds so great it becomes unfathomably complex to anyone without a PhD in game theory?

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