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Data Intelligence for Accurate and Transparent Expert Real Estate Valuation

Objective

DataScience Service GmbH (DataScience Service) is an Austrian RE-tech company that was founded in 2016 with the aim to make real estate property valuation more accurate and transparent. ImmAzing, our in-house developed Automated Valuation Model (AVM) software is based on hedonic statistic prediction models that are fed with useful geographical, sales and property data from external sources. By applying Machine-Learning algorithms and Big Data approaches, ImmAzing allows banks, real estate brokers and professional appraisers to determine the objective value range for any residential property in a faster and more accurate and transparent way, by taking away the tedious processes of data collection and data manipulation.

Today, ImmAzing provides the official residential property price index for the Austrian National Bank (OeNB) and, since September 2017, it has been launched into the Austrian Real Estate market, serving banks, real estate brokers, funds and investors and professional appraisers and helps them to increase the accuracy, transparency, and operational efficiency of the property valuation process.

With this project we want to extend the technical features and datasets of ImmAzing, improve user experience and prepare ImmAzing for expansion towards the DACH countries and Central and Eastern Europe (CEE). Commercial launch in 2021 is expected to boost our annual sales revenues in 2025 to €20.8 Million and extend our company to 28 employees.

Fields of science (EuroSciVoc)

CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.

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Programme(s)

Multi-annual funding programmes that define the EU’s priorities for research and innovation.

Topic(s)

Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.

Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

SME-1 - SME instrument phase 1

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) H2020-EIC-SMEInst-2018-2020

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Coordinator

DATASCIENCE SERVICE GMBH
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 50 000,00
Address
ALSER STRASE 21/6
1080 WIEN
Austria

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Ostösterreich Wien Wien
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 71 429,00
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