Public Funding for Fastr Property Limited

Fastr Property Ltd is an innovative SME seeking to develop a world-first PropTech autonomous residential development ecosystem that will accelerate and streamline planning & housing delivery, democratise functionality and take a pioneering technical skillset and provision to the global property market. This project builds upon a previously successful 2018 innovate UK grant, which saw the project go from POC to MVP. It is currently in beta with early adopters, with a number of clients across multiple sectors including Local authorities, SME developers and Property funders. Through a combination of innovative modules/technologies, Fastr is set to revolutionise the way in which residential housing delivery operates; delivering significant improvements alongside numerous economic benefits (time and resource savings) to suppliers, SME developers and local government housing development teams. Fastr has developed the Fastr Platform to address the growing UK housing shortfall, a shortfall that is projected to reach 4 million in England by 2031[heriot-Watt-University,2018]. With existing processes unable to meet growing housing demands Fastr has identified an opportunity to develop an innovate Machine Learning based platform that supports the development lifecycle, improving production efficiency. In particular, supporting the re-emergence of local authorities & SME's as housebuilders both of whom have steadily declined over the last 20Yrs. This project will see completion and swift commercialisation of the project (within 6 months).

Fastr Property are building on Fastr Land's software success, by innovatively developing the Fastr platform for construction and supply chain management, enabling Fastr adoption by SME developers and expanding their supply chain, allowing them to collaboratively compete against large housebuilders, building low carbon, sustainable homes that tackle the UK's housing shortage. The Fastr team, composed of property development veterans, start-up entrepreneurs and software developers will work collaboratively with SME partners MGM New Homes, ELK Developments, and Calton Developments. With energy performance standards for new homes remaining static since 2015\[Building,2019\] large house builders have avoided advancing sustainability, instead focusing on volume and maximising margins through poor quality, 'Identikit' homes, in part due to incentives from the UK Government's Help to Buy scheme. Market conditions for construction sector SMEs are tough, they're second most likely to fail due to insolvency \[ONS, 2018\], often due to extremely tight margins exacerbated by poor productivity due to inefficient, paper based solutions that are labour intensive and error prone. This is compounded by lenders becoming more risk averse with SMEs due to valuation uncertainty \[JLL,2020\]. With only 28% of construction companies currently having a digital strategy, an SME focused Construction and Supply Chain Management Software solution has the potential to significantly improve SME Developers productivity and margins, whilst reducing development risk. Fastr enables SME Developers to use BIM for the design and construction of modular, energy efficient housing built to Passivhaus and Future Home Standards, providing low carbon, energy efficient homes with minimised maintenance costs that target eco-conscious buyers.Fastr's development will deliver an industry leading solution, with entry into the Construction and Supply Chain Management Software arena combined with BIM integration transforming Fastr Property's growth through increased UK and international adoption of Fastr.

"Fastr is a leading, UK based, Construction Management Software provider that is seeking to develop a world first PropTech autonomous residential development ecosystem, stream-lining the approach to building, democratising functionality and taking a pioneering technical skillset and provision to the global property market. This project will develop a cloud based property ecosystem that has the ability to enable new markets & accelerate the entire process of residential new build developments."